Avax Apparels And Ornaments Limited IPO, GMP, Details, Price, And Review IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price | ₹ 70 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 2,74,000 shares (aggregating up to ₹ 1.92 Cr) |
| Fresh Issue | 2,74,000 shares (aggregating up to ₹ 1.92 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 7,65,158 |
| Shareholding post issue | 10,39,158 |
| Market Maker portion | 14,000 shares SKI Capital Services |
About Avax Apparels And Ornaments Limited IPO, GMP, Details, Price, And Review
The Company engages in two distinct lines of business:
- 1.Wholesale trading
- 2.Online retail of silver ornaments
Wholesale trading:
The Company operates in the wholesale trading of knitted cloth. They directly buy from manufacturers and supply wholesale to companies and readymade garment manufacturers in Punjab. The company specializes in knitted cloth, which is used for manufacturing ladies' and gents' jackets.
Online retail silver ornaments business:
The Company operates in the business of online retail of silver ornaments. They offer a wide range of designs and articles with a choice of the weight of products, such as silver rings, silver ladies' pajeb, silver gents kada, silver plate sets, silver glass, silver bangles, silver bowls, silver chains, and other silver jewelry. They are capable of supplying food in all major cities across the country.
- Avax Apparels And Ornaments IPO Overview:
- Total Issue Size ₹1.92 crores
- Issue Type: Fresh issue
- Number of Shares: 2.74 lakh shares
- Price per Share: ₹70
- Minimum Lot Size: 2000 shares
- IPO Opening Date: September 20, 2024
- IPO Closing Date: September 24, 2024
- Key Participants:
- Book Running Lead Manager: SKI Capital Services Limited
- Registrar: Skyline Financial Services Private Ltd
- Market Maker: SKI Capital Services
Avax Apparels And Ornaments Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Company & Financials
Incorporated in June 2005, Avax Apparels And Ornaments Limited is involved in two separate lines of business:
- Wholesale trading
- Online retail of silver ornaments
The company wholesales knitted fabric and sells silver ornaments online, including rings, ladies' payal, gents kada, plate sets, glass, bangles, bowls, chains and other jewelry. 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.
Objectives of Avax Apparels And Ornaments IPO
- The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objectives:
- 1. To meet the Working Capital requirements of the Company.
- 2. To meet the General Corporate Purposes.
Avax Apparels And Ornaments IPO Review
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. However, considering tiny post-IPO equity and the highly competitive and fragmented segment raises concern over the sustainability of such margins going forward. Small equity base post listing also indicates a longer gestation period. There is no harm in skipping this lucrative but “High Risk/Low Return” bet.
Avax Apparels And Ornaments Limited IPO, GMP, Details, Price, And Review Financial Information
Latest Revenue
2,205.98
₹ Crore
Profit After Tax
138.19
₹ Crore
Net Worth
314.68
₹ Crore
Total Borrowing
41.13
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 484.6 | 2,205.98 | 138.19 | 314.68 | 41.13 | ||||
| 31 Mar 2023 | 346.89 | 1,470.21 | 69.44 | 176.49 | 23.07 | ||||
| 31 Mar 2022 | 57.66 | 28.87 | 1.01 | 1.65 | 15.28 | ||||
| Amount in ₹ Crore | |||||||||
Avax Apparels And Ornaments Limited IPO, GMP, Details, Price, And Review Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 43.91% |
| ROCE | 37.50% |
| RoNW | 43.91% |
| P/BV | 1.7 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 18.06 | 13.3 |
| P/E (x) | 3.88 | 5.26 |
Frequently Asked Questions
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Competitive Strengths
1. Good network and connections with the players in the Sector.
2. Excellent Customer Relations.
3. Experienced and professional Team.
4. Good Track record of the management
Download regulatory filings
Avax Apparels And Ornaments Limited IPO, GMP, Details, Price, And Review IPO Timeline
| IPO Open Date | Friday, September 20, 2024 |
| IPO Close Date | Tuesday, September 24, 2024 |
| Basis of Allotment | Wednesday, September 25, 2024 |
| Initiation of Refunds | Thursday, September 26, 2024 |
| Credit of Shares to Demat | Thursday, September 26, 2024 |
| Listing Date | Friday, September 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 24, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4000 | ₹280,000 |