The Avax Apparels and Ornaments Ltd. IPO has garnered significant attention from investors, witnessing massive oversubscription during its three-day offering. Here’s a comprehensive overview of the IPO, including subscription status, financial details, and expected listing gains.
IPO Details
- Price Per Share: ₹70
- Lot Size: 2,000 shares
- Minimum Investment: ₹1,40,000 per lot
- Total Issue Size: ₹1.92 crore (2.74 lakh shares)
- IPO Subscription Period: January 7–9, 2025
- Listing Date: January 14, 2025
- Market: BSE SME
The IPO does not include an offer-for-sale (OFS) component, ensuring all proceeds go directly to the company.
Subscription Details (as of Final Day)
The IPO has seen remarkable interest, with an overall subscription of 243.4 times, as per the latest updates:
- Retail Investors: 342.85 times
- Non-Institutional Investors (NIIs): 135.92 times
This overwhelming response reflects strong investor confidence in the company’s prospects.
Grey Market Premium (GMP)
The GMP for Avax Apparels and Ornaments stood at ₹10 as of January 9, 2025. Based on the fixed price of ₹70 per share, the expected listing price is ₹80, indicating potential listing gains of approximately 14.29%.
Allotment and Refund Schedule
- Allotment Finalization: January 10, 2025
- Refund Initiation: January 13, 2025
- Demat Credit for Shares: January 13, 2025
Investors can check their allotment status through the BSE or KFin Technologies website:
- BSE: Check Allotment Status
- KFin Technologies: Check Allotment Status
Company Overview
Avax Apparels and Ornaments Ltd. operates in two core areas:
- Wholesale Trading of Knitted Fabrics: Benefiting from its strategic location in a key fabric manufacturing hub.
- Online Retail of Silver Jewellery: Catering to diverse customer preferences across India.
Financial Highlights
- Q2 FY25: Revenue ₹15 crore; Profit After Tax (PAT): ₹90.61 lakh.
- FY24: Revenue ₹22.05 crore; PAT ₹1.38 crore.
- FY23: Revenue ₹14.70 crore; PAT ₹69.44 lakh.
The company plans to utilize IPO proceeds for working capital requirements and general corporate purposes.
Final Thoughts
With its strong subscription figures, attractive GMP, and well-diversified business model, the Avax Apparels and Ornaments IPO has positioned itself as a promising opportunity for investors. The expected listing gains and robust financial performance further add to its appeal.
Disclaimer: IPO investments are subject to market risks. Always consult with financial advisors and review the prospectus before investing.
