Avalon Technologies will bring ₹ 865 crore IPO- Watch Video

The IPO of Avalon Technologies, an electronic manufacturing services company, will open for retail investors on 3 April. The company has fixed a price band of Rs 415-436 per share for the IPO on Tuesday. The company plans to raise Rs 865 crore from the public issue. Recently, Avalon completed a pre-IPO placement of Rs 160 crore. 

According to the information given by the company, the public subscription of IPO will be open till 3-6 April. The issue will open for anchor investors on March 31. Fresh equity shares worth Rs 320 crore will be issued in the IPO. While the promoters and existing shareholders will sell a stake worth Rs 545 crore through Offer for Sale (OFS). 

Avalon recently completed a pre-IPO placement of Rs 160 crore. This includes primary or fresh insurance of Rs 80 crore and secondary share sales of Rs 80 crore. In the pre-IPO placement, the company has raised Rs 60 crore from UNIFI Financial Pvt Ltd, Rs 60 crore from Ashoka India Equity Investment Trust Plc and Rs 40 crore from India Acron Fund Ltd.