Fixed Price IPO | ₹2 Cr | Listed at BSE SME | Tue, Jan 7, 2025 - Thu, Jan 9, 2025
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 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 for investment in 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 Open
Tue, Jan 7, 2025
IPO Close
Thu, Jan 9, 2025
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹7.27 Cr
| IPO Date | 7 to 9 Jan, 2025 |
| Listed on | Tue, Jan 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 2,74,000 shares (agg. up to ₹2 Cr) |
| Reserved for Market Maker | 14,000 shares SKI Capital Services Ltd. (agg. up to ₹0.0980 Cr) |
| Fresh Issue (Ex Market Maker) | 2,60,000 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 2,60,000 shares (agg. up to ₹2 Cr) |
| Share Holding Pre Issue | 7,65,158 shares |
| Share Holding Post Issue | 10,39,158 shares |
| BSE Script Code | 544337 |
| ISIN | INE0NQ401016 |
Avax Apparels IPO comprises a total issue size of 2,74,000 shares. The net offer to the public is 2,60,000 shares, after excluding 14,000 shares allotted on a firm basis. Of the Net offer 1,30,000 (50.00%) allocated to NII 1,30,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 1,30,000 | 50.00% | 47.45% |
| Retail Shares Offered | 1,30,000 | 50.00% | 47.45% |
| Firm Reservations | |||
| Market Maker Shares Offered | 14,000 | 5.11% | |
| Total Shares Offered | 2,74,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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 |
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 | 10.89 | 4.85 | 3.47 | 0.58 |
| Total Income | 15.01 | 22.06 | 14.70 | 0.29 |
| Profit After Tax | 0.91 | 1.38 | 0.69 | 0.01 |
| NET Worth | 4.05 | 3.15 | 1.76 | 0.02 |
| Total Borrowing | 0.72 | 0.72 | 0.30 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet out the Working Capital requirements of the Company | 1.50 |
| 2 | To meet out the General Corporate Purposes; and | 0.22 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 43.91% |
| ROCE | 61.68% |
| RoNW | 43.91% |
| PAT Margin | 6.26% |
| Price to Book Value | 1.70 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 18.06 | 17.44 |
| P/E (x) | 3.88 | 4.01 |
| Promoter Holding | 57% | 41.97% |
| Market Cap | ₹7.27 Cr. |
The Avax Apparels And Ornaments IPO is subscribed 260.42 times on January 9, 2025 6:19:09 PM (Day 3). The public issue subscribed 372.35 times in the retail category, [.] times in the QIB category, and 140.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 140.46 | 1,30,000 | 1,82,60,000 | 1,824 |
| Retail | 372.35 | 1,30,000 | 4,84,06,000 | 24,203 |
| Total | 260.42 | 2,60,001 | 6,77,10,000 | 28,111 |
Total Application : 28,111
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission | 0.11 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the issue | 0.01 |
| 4 | Legal Advisors | 0.01 |
| 5 | Peer Review Auditor | 0.01 |
| 6 | Advertising and marketing expenses | 0.01 |
| 7 | Regulators including stock exchanges | 0.03 |
| 8 | Printing and distribution of issue stationary | 0.00 |
| 9 | Others, if any include Bankers to the Issue, Depository, certifications, miscellaneous, etc. | 0.02 |
| Total | 0.20 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹133.00 |
| Low | ₹133.00 |
| High | ₹139.65 |
| Last Trade | ₹139.65 |
Lead Manager Reports
Avax Apparels IPO is a SME IPO of 2,74,000 equity shares of the face value of ₹10 aggregating up to ₹2 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Jan 7, 2025, and closes on Thu, Jan 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 Tue, Jan 7, 2025 and closes on Thu, Jan 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 Mon, Jan 13, 2025. Check the Avax Apparels IPO allotment status.
The Avax Apparels IPO listing date is on Tue, Jan 14, 2025.
