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As On 02-Jun-2023 11:26
59.82 (0.10%)
27.50 (0.15%)
    No Companies Visited

IPO Synopsis

Avalon Technologies Ltd

Registered Office: B-7 First Main Road MEPZ,Tambaram , Chennai - 600045 , Tamil Nadu , India.
Phone : 91-44-42220400
Fax :
Email :  investorsrelations@avalontec.com  
Website :  www.avalontec.com
Initial public offering of 19,839,446*** equity shares of face value of (Rs)2 each ("Equity Shares") of Avalon Technologies Limited (The "Company" or the "Company" or the "Issuer") for cash at a price of (Rs)436 per equity share (including a share premium of (Rs)434 per equity share) (the "Offer Price") aggregating to (Rs)865.00 crores*** (the "Offer") comprising a fresh issue of 7,339,449*** equity shares by the company aggregating to (Rs)320.00*** crores (the "Fresh Issue") and an offer for sale of 12,499,997*** equity shares aggregating to (Rs)545.00*** crores comprising an offer for sale of 3,004,587*** equity shares aggregating to (Rs)131.00*** crores by Kunhamed Bicha, 3,944,954*** equity shares aggregating to (Rs)172.00*** crores by Bhaskar Srinivasan, (the "Promoter Selling Shareholders"), 366,972*** equity shares aggregating to RS. 16.00*** crores by T P Imbichammad, 229,357*** equity shares aggregating to (Rs)10.00*** crores by Mariyam Bicha ("Promoter Group Selling Shareholders"), 1,731,651*** equity shares aggregating to (Rs)75.50*** crores by Anand Kumar, 1,490,825*** equity shares aggregating to (Rs)65.00*** crores by Sareday Seshu Kumar, 1,731,651*** equity shares aggregating to (Rs)75.50*** crores by Luquman Veedu Ediyanam (the "Other Selling Shareholders", and together with the promoter selling shareholders and promoter group selling shareholders, the "Selling Shareholders" and such offer for sale of equity shares by the selling shareholders, the "Offer for Sale***"). The company, in consultation with the brlms, has undertaken two pre-ipo placements of equity shares aggregating to approximately (Rs)30.00 crores and approximately (Rs)50.00 crores, respectively. The size of the fresh issue has been reduced by (Rs)80.00 crores pursuant to the pre - ipo placements. Accordingly, the revised fresh issue size aggregates to (Rs)320.00 crores. ***Subject to finalisation of basis of allotment. Bids can be made for a minimum of 34 equity shares and in multiples of 34 equity shares thereafter.

Issue Money Payable On
Opened On Closed On Offer Price Application Money Allotment Money
03-Apr-23 06-Apr-23 (  )436.00 (  )436.00 (  )0.00
Minimum Application for shares in Nos :34  Further Multiples of :34

  (   Cr) Lead Managers to the Issue
Project Cost 299.40
DAM Capital Advisors Ltd
IIFL Securities Ltd
JM Financial Ltd
Nomura Financial Advisory & Securities (I) Pvt Ltd
Project Financed through Current Offer 865.00  
Post Issue Equity Share Capital 13.06  
Face Value 2  
Issue Price (  )436.00  
Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and one of its material subsidiaries ATSPLGeneral corporate purposes
Funding the working capital requirements of the company
Promoted By
Kunhamed Bicha  
Bhaskar Srinivasan  
Listing At
Registrar to the Issue
Link Intime India Pvt Ltd 

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Flash News 02-Jun-2023
  •  ( 11:22) Central Bank of India inks co-lending deal with ISFCL for MSME loans  
  •  ( 11:05) SJVN signs pact for hydro electric project in Nepal  
  •  ( 11:01) Spandana Sphoorty board Oks NCD issue upto Rs 100 crore  
  •  ( 10:44) Aditya Birla Capital to raise Rs 1,250 cr via preferential issuance to promoters  
  •  ( 10:44) Aditya Birla Capital to raise Rs 1,250 cr via preferential issuance to promoters  
  •  ( 10:37) MOIL production jumps 43% YoY in May  
  •  ( 10:33) Metal shares gain on value buying  
  •  ( 10:33) Key indices turn red  
  •  ( 10:22) Bank of Maharashtra launches QIP issue  
  •  ( 10:13) Astrazeneca Pharma gets CDSCO nod to sale Tremelimumab solution  
  •  ( 09:55) Paras Defence forms JV with Israel-based CONTROP  
  •  ( 09:41) NHPC inks pact with Vidhyut Utpadan, Nepal  
  •  ( 09:34) TVS Motor May sales rises 9% YoY  
  •  ( 09:33) Market breadth in favor of buyers  
  •  ( 09:32) Sensex, Nifty trade with decent gains  
  •  ( 09:30) Eicher Motors total motorcycles sales climbs 22% YoY in May  
  •  ( 09:30) Hero Motocorp auto sales rises 7% YoY in May'23  
  •  ( 08:43) Tata Elxsi, Cultos Global tie up for driver reward program  
  •  ( 08:30) Asian stocks trading higher  
Show News
02 June 2023 11:23
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