Avalon Technologies makes muted D-St debut; lists at Rs 431 on BSE
Avalon Technologies's IPO was open for subscription between April 3-6 as the company raised Rs 865 crore via primary route in the fixed price band of Rs 415-436.
- Apr 18, 2023,
- Updated Apr 18, 2023 10:10 AM IST
Shares of Avalon Technologies made a muted debut at Dalal Street on Tuesday as the company was listed at a price of Rs 431, a discount of a little more than a per cent, on BSE against its issue price of Rs 436. However, the stock was listed at Rs 436 on National Stock Exchange (NSE), the same issue price level. Just a day ahead of its listing, shares of Avalon Technologies were commanding a muted premium of Rs 8-10 per share in the grey market, suggesting a mild gain to the investors on their maiden trading session. Incorporated in 1999, Avalon Technologies has end-to-end capabilities in delivering box-build solutions in India, focusing on high-value precision-engineered products. It has 12 manufacturing units located across the US and India offering a variety of solutions and services to its clients. The initial public offering (IPO) of Avalon Technologies was open for subscription between April 3 and April 6 as the company was looking to raise Rs 865 crore from the primary markets. It has fixed the issue price in the range of Rs 415-436 apiece with a lot size of 34 equity shares. The issue was overall subscribed merely 2.34 times, thanks to qualified institutional buyers (QIBs), whose portion was booked 3.77 times. The quota for non-institutional investors (NIIs) and retail bidders failed to get subscriptions as their allocation was booked by 43 per cent and 88 per cent, respectively. The brokerage firms are majorly positive on the issue and suggest subscribing to it citing its reasonable valuations, health growth prospects, solid track record and sound balance sheet Avalon Technologies counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation as some of its key clients. It has 12 manufacturing units located across the US and India. Its offerings include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
Also read: Delhivery shares in focus today as Bernstein initiates coverage on logistics firm
Shares of Avalon Technologies made a muted debut at Dalal Street on Tuesday as the company was listed at a price of Rs 431, a discount of a little more than a per cent, on BSE against its issue price of Rs 436. However, the stock was listed at Rs 436 on National Stock Exchange (NSE), the same issue price level. Just a day ahead of its listing, shares of Avalon Technologies were commanding a muted premium of Rs 8-10 per share in the grey market, suggesting a mild gain to the investors on their maiden trading session. Incorporated in 1999, Avalon Technologies has end-to-end capabilities in delivering box-build solutions in India, focusing on high-value precision-engineered products. It has 12 manufacturing units located across the US and India offering a variety of solutions and services to its clients. The initial public offering (IPO) of Avalon Technologies was open for subscription between April 3 and April 6 as the company was looking to raise Rs 865 crore from the primary markets. It has fixed the issue price in the range of Rs 415-436 apiece with a lot size of 34 equity shares. The issue was overall subscribed merely 2.34 times, thanks to qualified institutional buyers (QIBs), whose portion was booked 3.77 times. The quota for non-institutional investors (NIIs) and retail bidders failed to get subscriptions as their allocation was booked by 43 per cent and 88 per cent, respectively. The brokerage firms are majorly positive on the issue and suggest subscribing to it citing its reasonable valuations, health growth prospects, solid track record and sound balance sheet Avalon Technologies counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation as some of its key clients. It has 12 manufacturing units located across the US and India. Its offerings include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
Also read: Delhivery shares in focus today as Bernstein initiates coverage on logistics firm