Avalon Technologies Limited is the leading fully integrated Electronic Manufacturing Services (“EMS”) companies with end-to-end capabilities in delivering box build solutions in India, focusing on high value precision engineered products.
Avalon Technologies provide a full stack product and solution suite, right from printed circuit board (“PCB”) design and assembly to the manufacture of complete electronic systems (“Box Build”), to certain global original equipment manufacturers (“OEMs”), including OEMs located in the United States, China, Netherlands and Japan.
The offerings of Avalon Technologies Limited include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.The company is specialize in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals.
Certain of Avalon Technologies key customers include Kyosan India Private Limited, Zonar Systems Inc., Collins Aerospace, e-Infochips Private Limited, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation, with whom the company has relationships for more than seven years.
Avalon Technologies has 12 manufacturing units located across the United States and India: one unit in Atlanta, Georgia, one unit in Fremont, California, seven units in Chennai, Tamil Nadu, one unit in Kanchipuram, Tamil Nadu and two units in Bengaluru, Karnataka.
Avalon Technologies IPO – Details
| IPO Opening Date | 03 April 2023 |
| IPO Closing Date | 06 April 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,98,39,450 Shares Worth ₹865 Crore Fresh Issue: 73,39,450 Shares Worth ₹320 Crore OFS: 1,25,00,000 Shares Worth ₹545 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹415 – ₹436 |
| Market Lot | 34 Shares |
| Min Order | 34 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Avalon Technologies IPO – Date Schedule
| IPO Open Date | 03 April 2023 |
| IPO Close Date | 06 April 2023 |
| Basis of Allotment Date | 12 April 2023 |
| Initiation of Refunds | 13 April 2023 |
| Credit of Shares to Demat Account | 17 April 2023 |
| IPO Listing Date | 18 April 2023 |
Avalon Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | 14,824 |
| Retail (Max) | 13 | 442 | 1,92,712 |
| S-HNI (Min) | 14 | 476 | 2,07,536 |
| B-HNI (Min) | 68 | 2312 | 10,08,032 |
Competitive Strengths
- End – to – end integrated solutions, providing a “One Stop Shop” for electronics and electro – mechanical design and manufacturing services.
- High entry barriers to business through our collective cross-industry experience, customer engagement capabilities and leading position in the high mix flexible volume product manufacturing segment.
- Well-diversified business leading to strong growth avenues.
- Established relationships with marquee customer base.
- Global delivery footprint with high quality standards and advanced manufacturing and assembly capabilities.
- Strong financial performance, stable cash flows and visible growth profile.
Company Promoters
- Kunhamed Bicha
- Bhaskar Srinivasan
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2020 | 653.14 | 637.85 | 12.32 |
| 31 March 2021 | 695.89 | 667.06 | 23.08 |
| 30 November 2021 | 543.72 | 510.04 | 42.30 |
| 31 March 2022 | 851.65 | 785.20 | 68.16 |
| 30 November 2022 | 596.97 | 549.58 | 34.18 |
Object Of The Issue
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and one of our Material Subsidiaries, ATSPL.
- Funding the working capital requirements of our Company.
- General corporate purposes.
Avalon Technologies IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Dixon Technologies (India) Limited | 89.61 |
| 2 | 10 | Amber Enterprises India Limited | 59.50 |
| 3 | 10 | Syrma SGS Technology Limited | 49.91 |
| 4 | 10 | Kaynes Technology India Limited | 106.55 |
Avalon Technologies IPO Strengths
- Well-diversified business leading to strong growth avenues.
- Established relationships with marquee customer base.
- Strong financial performance, stable cash flows and visible growth profile.
Avalon Technologies IPO Risks
- Their factories are essential to their operations. Their business, operational results & financial condition would be materially harmed by any interruption to the ongoing operations of their manufacturing facilities.
- Avalon Technologies’s activities, financial situation, operational results and Business could all be negatively impacted by the COVID-19 pandemic or a comparable public health hazard.
- They may be impacted by any industry disruptions since the markets in which their customers compete are characterized by sectors peculiar to the industries they serve, their frequently changing preferences, and other relevant factors like decreasing production costs.
- Due to the nature of their business, they are subject to a number of risks that could considerably and negatively impact their Business, Cash flow financial situation and operational results.
Avalon Technologies IPO Promoter Holding
| Pre Issue Share Holding | 70.75% |
| Post Issue Share Holding | 51.24% |
Avalon Technologies IPO Prospectus
- Avalon Technologies IPO DRHP
- Avalon Technologies IPO RHP
- Anchor Investors in Avalon Technologies IPO
Company Contact Information
| Avalon Technologies Limited B – 7, First Main Road, MEPZ, Tambaram, Chennai – 600 045 Phone: +9144 42220 400 Email: investorsrelations@avalontec.com Website: http://www.avalontec.com/ |
Avalon Technologies IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: avalontec.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
Avalon Technologies IPO Lead Manager(s)
| 1. JM Financial Limited 2. DAM Capital Advisors Ltd 3. IIFL Securities Ltd 4. Nomura Financial Advisory And Securities (India) Pvt Ltd |
Avalon Technologies IPO FAQs
| What is Avalon Technologies IPO? Avalon Technologies IPO is a main-board IPO. The issue is priced at ₹415 to ₹436 per equity share. The IPO is to be listed on BSE & NSE. |
| When Avalon Technologies IPO will open? The IPO is to open on 03 April 2023 for QIB, NII, and Retail Investors. |
| What is Avalon Technologies IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Avalon Technologies IPO? You can apply Avalon Technologies IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Avalon Technologies IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Avalon Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Avalon Technologies IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Avalon Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Avalon Technologies IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Avalon Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Avalon Technologies IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Avalon Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Avalon Technologies IPO Size? Avalon Technologies IPO size is ₹865 Cr. |
| What is Avalon Technologies IPO Price Band? Avalon Technologies IPO Price Band is ₹415 to ₹436. |
| What is Avalon Technologies IPO Minimum and Maximum Lot Size? The minimum bid is 34 Shares with ₹14,824 amount while the maximum bid is 442 shares with ₹1,92,712. |
| What is the Avalon Technologies IPO Allotment Date? Avalon Technologies IPO allotment date is 12 April 2023. |
| What is the Avalon Technologies IPO Listing Date? Avalon Technologies IPO listing date is 18 April 2023. The IPO is to list on BSE and NSE. |
