The Avax Apparels And Ornaments IPO is one of the most awaited SME IPOs in 2024. This fixed-price issue aims to raise ₹1.92 crores by offering 2.74 lakh fresh shares. For potential investors, it is crucial to understand the IPO details, subscription timeline, allotment, grey market premium (GMP), and other key financial aspects to make informed decisions. In this blog post, we will cover all relevant details, providing an overview of Avax Apparels and Ornaments’ business and their financial strengths.
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Key IPO Details
| IPO Date | September 20, 2024 – September 24, 2024 |
|---|---|
| Listing Date | September 27, 2024 (Tentative) |
| Face Value | ₹10 per share |
| IPO Price | ₹70 per share |
| Lot Size | 2000 shares |
| Total Issue Size | 2,74,000 shares (₹1.92 crore) |
| Market Maker Portion | 14,000 shares |
| Listing At | BSE SME |
For more details about SME IPOs, you can check the upcoming IPOs section on our website.
Avax Apparels And Ornaments IPO Timeline
| Activity | Date |
|---|---|
| IPO Open Date | September 20, 2024 |
| IPO Close Date | September 24, 2024 |
| Basis of Allotment | September 25, 2024 |
| Initiation of Refunds | September 26, 2024 |
| Credit of Shares | September 26, 2024 |
| Listing Date | September 27, 2024 (Tentative) |
Make sure you monitor the IPO allotment for Avax Apparels on our platform for updates.
Financial Overview
Avax Apparels And Ornaments Limited has shown strong financial growth, with a significant increase in revenue and profit over the past few years. Here’s a snapshot of the financials:
| Financial Year Ended | Revenue (₹ Lakhs) | PAT (₹ Lakhs) | Assets (₹ Lakhs) | Net Worth (₹ Lakhs) |
|---|---|---|---|---|
| March 31, 2024 | 2,205.98 | 138.19 | 484.6 | 314.68 |
| March 31, 2023 | 1,470.21 | 69.44 | 346.89 | 176.49 |
| March 31, 2022 | 28.87 | 1.01 | 57.66 | 1.65 |
The company’s revenue increased by 50%, while profit after tax (PAT) rose by 99%, making it an attractive proposition for investors.
Check out our IPO review section for detailed analysis and reviews from market experts.
Competitive Strengths of Avax Apparels And Ornaments Limited
Avax Apparels And Ornaments has several competitive strengths that give it an edge in the market:
- Locational Advantage: The company is located in a cloth manufacturing hub, providing it with easy access to materials and other resources.
- Good Network: They maintain excellent relationships with key players in the sector, which contributes to smooth business operations.
- Customer Relations: The company prides itself on strong customer relationships, ensuring repeat business.
- Experienced Management: Avax Apparels’ management team is seasoned and has a good track record of delivering consistent results.
Visit our IPO forms section for more details on how to apply for this IPO.
Grey Market Premium (GMP) Insights
Grey Market Premium (GMP) often reflects investor sentiment before an IPO is listed on the exchange. As of September 16, 2024, the GMP for Avax Apparels And Ornaments IPO stood at ₹0, indicating no significant movement. It’s important to remember that GMP can be volatile, and investment decisions should not be based solely on this factor.
Check the live IPO GMP for updates on the premium for Avax Apparels And Ornaments and other upcoming IPOs.
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Investors | 50% of the Net Issue |
| Other Investors | 50% of the Net Issue |
Investors can bid for a minimum of 2000 shares in this IPO. Here’s a breakdown of the minimum and maximum investments:
| Investor Type | Minimum Lot | Shares | Investment (₹) |
|---|---|---|---|
| Retail | 1 | 2000 | ₹1,40,000 |
| HNI | 2 | 4000 | ₹2,80,000 |
Get more details on SME IPOs and the upcoming listings on our dedicated page.
Company Promoters and Business Overview
Avax Apparels And Ornaments Limited was incorporated in June 2005. The company operates in two main areas:
- Wholesale Trading of Knitted Fabrics
- Online Retail of Silver Ornaments
The company is known for selling silver ornaments such as rings, bangles, gents’ kadas, payals, and other jewellery online. The company serves customers across various major cities in India. With an efficient and professional team, the company has established itself as a trusted player in both wholesale and retail markets.
The promoters of the company are Mr. Harinderpal Singh Sodhi and Mr. Harish Kumar, who hold a strong majority of the shares pre-IPO.
For more SME IPOs and reviews, you can visit our NCD section.
FAQs
1. What is the Avax Apparels And Ornaments IPO listing date?
The tentative listing date for Avax Apparels And Ornaments IPO is September 27, 2024.
2. What is the GMP of Avax Apparels And Ornaments IPO?
As of the latest update, the GMP is ₹0, but keep checking our GMP tracker for live updates.
3. How can I check the Avax Apparels And Ornaments IPO allotment status?
The allotment status will be available on the IPO allotment page after September 25, 2024.
4. What are the financials of Avax Apparels And Ornaments Limited?
Avax Apparels has shown significant growth in both revenue and profit in the past financial years. For more details, check the company’s financial overview in this blog.
