Avalon Technologies IPO: The IPO of Avalon Tech, a Chennai-based provider of IT services and solutions, to raise up to Rs 865 crore hit the street on Monday. The initial share sale of Avalon Technologies comprises fresh issuance worth Rs 320 crore and an offer for sale (OFS) worth Rs 545 crore by existing shares. 

Avalon Tech IPO: Subscription status

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By 2:12 pm on Monday, the first day of the bidding process, the Avalon Tech IPO received bids for 2.2 lakh shares as against the 1.1 crore shares on offer — a subscription of two per cent, according to provisional exchange data. 

Investor category Subscription
Qualified institutional buyer Nil
Non-institutional investor 1%
Retail investor 10%
Overall 2%

Avalon Tech IPO: Here's all you need to know about the first initial public offer of the new financial year: 

Avalon Tech IPO: Issue price

Potential investors can bid for Avalon Tech shares in a range of Rs 415-436 apiece under the IPO.

Avalon Tech IPO: Lot size 

Bids will be accepted in multiples of 34, translating to Rs 14,110-14,824 per lot. 

Avalon Tech IPO: Important dates

The bidding process, which began on April 3, will conclude on April 6 — three days of bidding given the Mahavir Jayanti holiday on Tuesday. 

The basis of allotment will likely be finalised on April 12, the shares credited to the accounts of winning bidders on Apr 17, and the listing of Avalon Tech shares on stock exchanges BSE and NSE on April 18.

What does Avalon Technologies do?

Avalon Tech is a fully integrated electronic manufacturing services (EMS) company, offering a full stack product and solution suite.

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