- IPO Price: ₹70 per share.
- Issue Size: ₹1.92 crore (2.74 lakh shares).
- IPO Dates: January 7–9, 2025.
- Minimum Investment: ₹1.40 lakh for retail investors.
- Market Maker Shares: 14,000 (5.11%).
- Listing Date: January 14, 2025, on BSE SME.
- Objectives: Funding working capital and general corporate purposes.
- Lead Manager: SKI Capital Services Limited.
Avax Apparels And Ornaments IPO is set to raise ₹1.92 crore through a fresh issue of 2.74 lakh shares. The IPO opens for subscription on January 7, 2025, and will close on January 9, 2025. This is a fixed price issue, with shares priced at ₹70 each. The allotment will be finalized by January 10, 2025, and the company is expected to list on the BSE SME platform on January 14, 2025.
Here’s a detailed breakdown of the IPO:
Avax Apparels and Ornaments IPO Details
| IPO Details | Description |
|---|---|
| IPO Date | January 7–9, 2025 |
| Listing Date | January 14, 2025 |
| Face Value | ₹10 per share |
| Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | ₹1.92 crore (2,74,000 shares) |
| Fresh Issue | ₹1.92 crore (2,74,000 shares) |
| Issue Type | Fixed Price Issue |
| Listing At | BSE SME |
| Market Maker Portion | 14,000 shares (5.11%) |
The Avax Apparels and Ornaments IPO offers 2,74,000 shares in total, with retail investors and non-institutional investors (NII) each getting 1,30,000 shares, making up 47.45% of the issue. A total of 14,000 shares (5.11%) will be allocated to the market maker.
IPO Reservation Breakdown
| Investor Category | Shares Offered |
|---|---|
| Retail (RII) | 1,30,000 (47.45%) |
| Non-Institutional Investors (NII) | 1,30,000 (47.45%) |
| Market Maker | 14,000 (5.11%) |
| Total Shares | 2,74,001 (100%) |
Avax Apparels and Ornaments IPO Timeline
| Event | Date |
|---|---|
| IPO Opening Date | January 7, 2025 |
| IPO Closing Date | January 9, 2025 |
| Basis of Allotment | January 10, 2025 |
| Refunds Initiation | January 13, 2025 |
| Shares Credit to Demat | January 13, 2025 |
| Listing Date | January 14, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on January 9, 2025 |
Investment Details
For retail investors, the minimum lot size is 2,000 shares, with an investment of ₹1,40,000. High-net-worth individuals (HNI) need to apply for a minimum of 4,000 shares (2 lots), amounting to ₹2,80,000.
| Application Type | Shares | Amount |
|---|---|---|
| Retail (Min) | 2,000 | ₹1,40,000 |
| HNI (Min) | 4,000 | ₹2,80,000 |
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About Avax Apparels and Ornaments Ltd.
Founded in June 2005, Avax Apparels and Ornaments Limited deals in wholesale trading of knitted fabric and online retail of silver ornaments. The company is well-positioned geographically, located in the hub of cloth manufacturing, and benefits from strong business relationships and a growing demand for its products.
The company supplies silver jewellery such as rings, payals, bangles, and chains to major cities across India. Its wholesale trading business and strong customer relations are key factors contributing to its success.
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹1,089.09 Lakhs | ₹484.6 Lakhs | ₹346.89 Lakhs | ₹57.66 Lakhs |
| Revenue | ₹1,500.93 Lakhs | ₹2,205.98 Lakhs | ₹1,470.21 Lakhs | ₹28.87 Lakhs |
| Profit After Tax | ₹90.61 Lakhs | ₹138.19 Lakhs | ₹69.44 Lakhs | ₹1.01 Lakhs |
| Net Worth | ₹405.3 Lakhs | ₹314.68 Lakhs | ₹176.49 Lakhs | ₹1.65 Lakhs |
| Total Borrowing | ₹72.02 Lakhs | ₹71.5 Lakhs | – | ₹30 Lakhs |
Objects of the Issue
The funds raised through this IPO will be used for the following objectives:
- General Corporate Purposes
- Working Capital Requirements
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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