Avax Apparels And Ornaments is scheduled to hit the market on September 20, 2024 and close on September 24, 2024. Avax Apparels And Ornaments plans to raise around ₹1.92 Cr through an IPO with a sale of up to 274,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Avax Apparels And Ornaments Limited, founded in June 2005, operates in two main areas: wholesale trading and online retail of silver ornaments. The company sells a variety of products, including rings, ladies' payal, gents kada, plate sets, glass, bangles, bowls, chains, and other jewellery through its online platform. It supplies to all major cities across India.
The company has several advantages in its wholesale trading business. Being located in a hub for cloth manufacturing gives it a strong edge. Additionally, the growing demand for its products and the solid relationships the management has built with other businesses help it succeed. Its strengths include a good location, a strong network in the industry, excellent customer relations, an experienced team, and a solid track record of management. As of September 2024, Avax Apparels has 7 permanent employees.
Avax Apparels And Ornaments IPO Details
Avax Apparels And Ornaments IPO opens on September 20, 2024, and closes on September 24, 2024. The Listing date for Avax Apparels And Ornaments IPO is on September 27, 2024. The price band for IPO is ₹70 per share and lot size of 2000 Shares.
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | September 27, 2024 |
| Price | ₹70 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹1.92 Cr |
| Face Value | ₹10 per share |
Avax Apparels And Ornaments IPO Tentative Timetable
Avax Apparels And Ornaments opening date is September 20, 2024 and close date is September 24, 2024. The IPO allotment date is September 25, 2024. Therefund initiation of IPO is on September 26, 2024. The credit of shares in demat account is on September 26, 2024. The listing date is on September 27, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 20, 2024 |
| IPO Closing | September 24, 2024 |
| IPO Allotment Date | September 25, 2024 |
| Refund Initiation | September 26, 2024 |
| Shares Credit to Demat | September 26, 2024 |
| Lisiting Date | September 27, 2024 |
Avax Apparels And Ornaments IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹140,000 |
| Retail(Maximum) | 1 | 2000 | ₹140,000 |
| HNI (Minimum) | 2 | 4000 | ₹280,000 |
Avax Apparels And Ornaments IPO Promoter Holding
| Pre Issue Share Holding | 57.00% |
| Post Issue Share Holding | 41.97% |
Avax Apparels And Ornaments IPO Review
The company is launching its first IPO with 274,000 equity shares priced at Rs. 10 each. The shares will be offered at a fixed price of Rs. 70 per share, aiming to raise Rs. 1.92 crore.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 0.29 cr. / Rs. 0.01 cr. (FY22), Rs. 14.70 cr. / Rs. 0.69 cr. (FY23), and Rs. 22.06 cr. / Rs. 1.38 cr. (FY24).
For the last three fiscals, the company has posted an average EPS of 12.21 and an average RoNW of 45.29%. The issue is priced at a P/BV of 1.70 based on its NAV of Rs. 41.13 as of March 31, 2024, and at a P/BV of 1.44 based on its posts-IPO NAV of Rs. 48.74 per share.
If we attribute FY24 earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 5.26. Based on FY23 earnings, the issue is at a P/E of 29.05. The issue relatively appears lucratively priced considering FY24 earnings.
For the reported periods, the company has posted PAT margins of 3.51% (FY22), 4.72% (FY23), 6.26% (FY24), and RoCE margins of 3.20%, 40.45%, 37.50% respectively for the referred periods.
According to the offer document, the company has mentioned Anand Rayons and Aarnav Fashions as similar companies. They are trading at a price-to-earnings (P/E) ratio of 20.9 and 33.6, respectively, as of September 17, 2024. However, these companies are not exactly the same and can't be compared directly.
The company is involved in selling cloth in bulk and also sells silver jewelry online. It has shown growth in both its sales and profits recently, and based on its earnings for FY24, the prices seem attractive. However, the small amount of shares available after the IPO and the tough competition in this market make it uncertain if these profits can be maintained in the future. With a small number of shares after listing, it might take longer to see good returns. So, it might be wise to avoid this tempting but risky investment that offers low returns.
Avax Apparels And Ornaments IPO Subscription Status (Bidding Details)
Table not foundAvax Apparels And Ornaments IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Avax Apparels And Ornaments IPO FAQs
What is Avax Apparels And Ornaments IPO?
Avax Apparels And Ornaments is issuing 274,000 equity shares with a face value of ₹10 each, totaling up to ₹1.92 Cr. The shares are being offered at a price of ₹70 each, with a minimum order quantity of 2000 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Avax Apparels And Ornaments IPO will open?
Avax Apparels And Ornaments will open on September 20, 2024 for QIB, NII, and Retail Investors.
When Avax Apparels And Ornaments IPO will end?
Avax Apparels And Ornaments will end on September 24, 2024.
What is Avax Apparels And Ornaments IPO Size?
Avax Apparels And Ornaments IPO size is ₹1.92 Cr.
What is Avax Apparels And Ornaments IPO Price Band?
Avax Apparels And Ornaments price band is ₹70 per share.
What is Avax Apparels And Ornaments IPO Allotment Date?
Avax Apparels And Ornaments allotment date is September 25, 2024.
What is Avax Apparels And Ornaments IPO Listing Date?
Avax Apparels And Ornaments listing date is September 27, 2024. The IPO is to be listed on BSE and NSE.
How to Apply Avax Apparels And Ornaments IPO through Zerodha?
To apply for the IPO “Avax Apparels And Ornaments” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Avax Apparels And Ornaments IPO through Upstox?
To apply for the IPO “Avax Apparels And Ornaments” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Avax Apparels And Ornaments IPO Allotment Status?
For Avax Apparels And Ornaments IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Avax Apparels And Ornaments IPO GMP?
You can check out here: Avax Apparels And Ornaments IPO GMP. Check all IPO GMP here.