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Avax Apparels IPO is a fixed price issue of ₹1.92 crores. The issue is entirely a fresh issue of 0.03 crore shares of ₹1.92 crore.
Avax Apparels IPO bidding started from Jan 7, 2025 and ended on Jan 9, 2025. The allotment for Avax Apparels IPO was finalized on Jan 10, 2025. The shares got listed on BSE SME on Jan 14, 2025.
Avax Apparels IPO price is ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,40,000 (2000 shares) (based on upper price). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
SKI Capital Services Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is SKI Capital Services Ltd..
Refer to Avax Apparels IPO RHP for detailed Information.
| IPO Date | January 7, 2025 to January 9, 2025 |
| Listing Date | January 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 2,74,000 shares (aggregating up to ₹1.92 Cr) |
| Reserved for Market Maker | 14,000 shares SKI Capital Services Ltd. (aggregating up to ₹0.0980 Cr) |
| Net Offered to Public | 2,60,000 shares (aggregating up to ₹1.82 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 7,65,158 shares |
| Share Holding Post Issue | 10,39,158 shares |
Avax Apparels IPO offers total 2,74,000 shares. Out of which 1,30,000 (47.45%) allocated to NII, 1,30,000 (47.45%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 14,000 (5.11%) |
| NII (HNI) Shares Offered | 1,30,000 (47.45%) |
| Retail Shares Offered | 1,30,000 (47.45%) |
| Total Shares Offered | 2,74,000 (100.00%) |
Avax Apparels IPO opens on January 7, 2025, and closes on January 9, 2025.
| IPO Open Date | Tue, Jan 7, 2025 |
| IPO Close Date | Thu, Jan 9, 2025 |
| Tentative Allotment | Fri, Jan 10, 2025 |
| Initiation of Refunds | Mon, Jan 13, 2025 |
| Credit of Shares to Demat | Mon, Jan 13, 2025 |
| Tentative Listing Date | Tue, Jan 14, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jan 9, 2025 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in June 2005, Avax Apparels And Ornaments Limited is involved in two separate lines of business:
The company wholesales knitted fabric and sells silver ornaments online, including rings, ladies' payal, gents kada, plate sets, glass, bangles, bowls, chains, and other jewellery. It supplies all major cities across the country.
The company has several key advantages in wholesale trading. It is geographically located in the hub of cloth manufacturing, which provides a significant advantage. In addition, the company benefits from the growing demand for these products and the strong business relationships maintained by the management, all of which contribute to the company's success in this segment.
Competitive Strengths
As of September 2024, the company has 7 full term employees.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,089.09 | 484.6 | 346.89 | 57.66 |
| Total Income | 1,500.93 | 2,205.98 | 1,470.21 | 28.87 |
| Profit After Tax | 90.61 | 138.19 | 69.44 | 1.01 |
| Net Worth | 405.3 | 314.68 | 176.49 | 1.65 |
| Total Borrowing | 72.02 | 71.5 | 30 | |
| Amount in ₹ Lakhs | ||||
The market capitalization of Avax Apparels IPO is ₹7.27 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 43.91% |
| ROCE | 61.68% |
| RoNW | 43.91% |
| PAT Margin | 6.26% |
| Price to Book Value | 1.70 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 18.06 | 17.44 |
| P/E (x) | 3.88 | 4.01 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is engaged in wholesale trading of cloth and online retailing of silver ornaments. It marked growth in its top and bottom lines for the reported periods and based on FY24 earnings, the issue appears lucratively priced. But considering tiny post-IPO equity and the highly competitive and fragmented segment raises concern over sustainability of such margins going forward. Small equity base post listing also indicates longer gestation period. We are witnessing fancy for textile segment counters. Well-informed investors may park moderate fund in this lucrative but “High Risk/Low Return” bet. Read detail review...
| Listing Date | January 14, 2025 |
| BSE Script Code | 544337 |
| NSE Symbol | |
| ISIN | INE0NQ401016 |
| Final Issue Price | ₹70 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹133.00 |
| Low | ₹133.00 |
| High | ₹139.65 |
| Last Trade | ₹139.65 |
Avax Apparels & Ornaments Ltd.
611 6th Floor
Jaina Tower II Distt. Centre
Janakpuri, West Delhi,-110058
Delhi, New Delhi
Phone: +011-44750642
Email: secretarial@avaxapparels.com
Website: https://avaxapparels.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Avax Apparels IPO is a SME IPO of 2,74,000 equity shares of the face value of ₹10 aggregating up to ₹1.92 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on January 7, 2025, and closes on January 9, 2025.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Avax Apparels IPO using UPI as a payment gateway. Zerodha customers can apply in Avax Apparels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Avax Apparels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Avax Apparels IPO opens on January 7, 2025 and closes on January 9, 2025.
Avax Apparels IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Avax Apparels IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Avax Apparels IPO will be done on Friday, January 10, 2025, and the allotted shares will be credited to your demat account by Monday, January 13, 2025. Check the Avax Apparels IPO allotment status.
The Avax Apparels IPO listing date is on Tuesday, January 14, 2025.
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