1 day Ago
Avax Apparels And Ornaments IPO : The initial public offering (IPO) of Avax Apparels And Ornaments opened for subscription today, January 7 and will close on January 9. The company, which aims to raise ₹ 1.92 crore through the SME IPO , has set a price band of ₹ 70 per share.
Subscription Status Avax Apparels SME IPO was booked 11.88 times by 1:14 pm on Day 1. Investors bid for 30.
90 lakh shares as against 2.6 lakh on offer. The retail portion of the public issue was subscribed 21.
18 times while the Non-Institutional Investors’ (NII) category received 2.58 times bids. Avax Apparels GMP today The company's shares in the grey market traded at a premium of ₹ 21.
This indicates an estimated listing price of ₹ 91, up 30 percent from the IPO price of ₹ 70. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. Avax Apparels IPO details The IPO is entirely a fresh issue of 2.
74 lakh shares with no offer-for-sale component. For prospective investors, the minimum lot size for application is 2,000 shares and in multiples thereof. Retail investors are required to invest a minimum amount of ₹ 1.
4 lakh to participate in the offering. The company intends to utilize the net proceeds from the issue to address its working capital requirements and support general corporate purposes. SKI Capital Services Limited is the book running lead manager of the Avax Apparels And Ornaments IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.
The market maker for Avax Apparels And Ornaments IPO is SKI Capital Services Limited. The allotment for the Avax Apparels IPO is expected to be finalised on Friday, January 10. The IPO will list on BSE SME with the tentative listing date fixed as Tuesday, January 14.
Review “The company is engaged in wholesale trading of cloth and online retailing of silver ornaments. It marked growth in its top and bottom lines for the reported periods and based on FY24 earnings, the issue appears lucratively priced. But considering tiny post-IPO equity and the highly competitive and fragmented segment raises concern over sustainability of such margins going forward.
Small equity base post listing also indicates longer gestation period. We are witnessing fancy for textile segment counters. Well-informed investors may park moderate fund in this lucrative but “High Risk/Low Return” bet,” said Dilip Davda of Chittorgarh.
com with a ‘may apply’ rating. About Avax Apparels Avax Apparels And Ornaments Limited, established in June 2005, operates in two distinct business segments: wholesale trading and online retail of silver ornaments. The company specializes in wholesaling knitted fabrics and offers a wide range of silver ornaments through its online platform, including rings, ladies' payals, gents' kadas, plate sets, glasses, bangles, bowls, chains, and other jewelry items.
Its distribution network spans major cities across India..
