Avalon Technologies files DRHP with SEBI- Looks to raise Rs 1025 crore via an IPO

Avalon Technologies files IPO papers with SEBI

Avalon files IPO papers with SEBI

Avalon technologies is a vertically integrated electronics manufacturing services firm founded in 1999. It has a total of 12 manufacturing facilities located in India and the USA. The company claims to have more than 1900 employees across its 12 facilities. The company has Zonar Systems Inc, Kyosan India, The US Malabar Company, Systech Corporation, etc., amongst its clients. In fiscal 2022, the company has a revenue of Rs 840 crores. The company has an order book of Rs 1039 crores. 

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Avalon Technologies IPO details

The company has plans to raise Rs 1025 crores via the IPO route. The fresh issue is expected to be Rs 400 crores. The offer for sale by the promoters and existing shareholders is to be around Rs 625 crores. The company might raise Rs 80 crores pre-IPO, and it will reduce the fresh issue size of the IPO. The company is raising money to pay its debt, generate working capital and other general corporate purposes.

The merchant bankers for the IPO include JM Financial, Nomura Financial Advisory and Securities (India) Private Ltd, IIFL Securities and DAM Capital Advisors. The company serves various markets, including clean energy, mobility, communication, etc. The interest in the IPO will depend on the market conditions prevalent at that time and the final IPO price decided by the company.

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The IPO of Avalon Technologies Limited can be expected after the SEBI nod to the IPO. The company has filed IPO papers to raise Rs 1025 crores. This year has been slow for the IPOs after a good 2021. Many start-up IPOs that listed last year fell on the bourses failed miserably and are down more than 50%. Whether this IPO will go through will depend on a number of factors like the market conditions prevalent at that time and the final IPO price decided by the company.

Related: What did the IPO's of 2021 teach us?

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