The initial public offering of Avax Apparels and Ornaments Ltd. went live on Tuesday. The BSE SME issue consists entirely of 2.74 lakh shares valued at Rs 1.92 crore with no offer-for-sale component. The SME IPO was fully subscribed within minutes of opening for share sale.

Those planning to invest in the Avax Apparels And Ornaments IPO are advised to review these details before the bidding process begins.

Avax Apparels And Ornaments IPO: Key Details

The Avax Apparels and Ornaments IPO’s subscription window closes on Jan. 9, giving investors three days to participate in the offering. The allotment of shares is scheduled to be finalised on Jan. 10. Once the basis of allotment is confirmed, the process for initiating refunds will commence on Jan. 13, for those who did not receive shares. On the same day, successful applicants will see the credited shares reflected in their Demat accounts. 

The Avax Apparels and Ornaments IPO is expected to make its debut on the BSE SME on Tuesday, January 14, marking the official listing date.

The Avax Apparels and Ornaments IPO is priced at Rs 70 per share, with the minimum application lot size being set at 2,000 shares. For retail investors, this translates to a minimum investment of Rs 1,40,000 for one lot. 

Avax Apparels And Ornaments Ltd. has reserved 50% of the net issue for retail investors, while the remaining 50% has been allocated to other investor categories, ensuring a diversified shareholding base.

SKI Capital Services Ltd. is the book-running lead manager for the Avax Apparels and Ornaments IPO, while Skyline Financial Services Pvt. is the registrar. 

SKI Capital Services Ltd. also serves as the market maker for this BSE SME issue.

Avax Apparels and Ornaments IPO Subscription Status

The IPO has been subscribed 1.3 times as of 10:40 a.m. on Tuesday:

  • NII: 0.31 times

  • Retail Investors: 2.29 times

The subscription status will be updated at regular intervals

Avax Apparels and Ornaments IPO GMP Today

The Grey Market Premium (GMP) on Avax Apparels and Ornaments SME IPO stood was Rs 21 as of 7:59 a.m. on Jan. 7, according to InvestorGain. Based on the IPO’s fixed price of Rs 70 per share, the estimated listing price is projected to be around Rs 91, combining the cap price with the current GMP. This suggests an expected gain of 30% per share upon listing.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Avax Apparels and Ornaments: Business And Financials

Avax Apparels and Ornaments Ltd., established in June 2005, operates in two key areas — wholesale trading of knitted fabrics and online retail of silver jewellery. Through its digital platform, Avax serves customers in major cities across India, catering to both traditional and modern tastes. One of the company’s strengths lies in its strategic location within a prominent fabric manufacturing hub, allowing it to source materials efficiently and meet rising market demands.

Use Of Proceeds

The primary objective of the Avax Apparels and Ornaments IPO is to raise funds to support the company’s working capital needs and cover general corporate expenses.

Financials

For the quarter ending September 30, 2024, Avax Apparels and Ornaments Ltd. reported a revenue of Rs 15 crore, with a profit after tax of Rs 90.61 lakh. In comparison, for the financial year ending March 31, 2024, the company generated Rs 22.05 crore in revenue, with a profit after tax of Rs 1.38 crore. 

In FY23, the company achieved a revenue of Rs 14.70 crore and a profit after tax of Rs 69.44 lakh.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The Grey Market Premium (GMP) on Avax Apparels and Ornaments SME IPO stood was Rs 21 as of 7:59 a.m. on Jan. 7, according to InvestorGain.  Read MoreIPOs 

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