Avax Apparels and Ornaments IPO Details: The Avax Apparels And Ornaments IPO is set to open on September 20, 2024, and will close on September 24, 2024. This is a Fixed Price Issue, aiming to raise approximately ₹1.92 crores. The offer consists of a fresh issue worth ₹1.92 crores and an offer for sale of equity shares, each with a face value of ₹10.
The IPO is priced at ₹70 per share, with a retail investor quota of 50%, and the remaining 50% reserved for High Net-Worth Individuals (HNIs), while there is no allocation for Qualified Institutional Buyers (QIBs). The listing is expected to take place on the BSE on September 27, 2024, with allotment set for September 25, 2024.
In terms of financial performance, the company reported revenues of ₹22.06 crores in 2024, an increase from ₹14.70 crores in 2023. Net profits also saw significant growth, reaching ₹1.38 crores in 2024 compared to ₹0.69 crores the previous year. Given the company’s financials, long-term investors may find this IPO to be a promising opportunity.
Avax Apparels and Ornaments IPO Objectives:
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- To meet the Working Capital requirements of the Company;
- To meet the General Corporate Purposes
Avax Apparels and Ornaments IPO Review (Apply or Not)
- Update soon
Avax Apparels and Ornaments IPO Date & Price Band Details:
| IPO Open Date: | September 20, 2024 |
| IPO Close Date: | September 24, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹70 Per Share |
| Issue Size: | Approx ₹1.92 Crores |
| Fresh Issue: | Approx ₹1.92 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Fixed Price Issue |
| IPO Listing: | BSE SME |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 00% |
| NII Quota: | Not more than 50% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Avax Apparels and Ornaments IPO Lot Size:
The minimum market lot for the Avax Apparels And Ornaments IPO is 2,000 shares, requiring an application amount of ₹1,40,000.
| Application | Lot Size | 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 Timeline:
The Avax Apparels and Ornaments IPO is set to open on September 20 and will close on September 24. Allotments for the IPO will be determined on September 25, with the company’s shares scheduled to list on September 27.
| IPO Open Date: | September 20, 2024 |
| IPO Close Date: | September 24, 2024 |
| Basis of Allotment: | September 25, 2024 |
| Refunds: | September 26, 2024 |
| Credit to Demat Account: | September 26, 2024 |
| IPO Listing Date: | September 27, 2024 |
Avax Apparels and Ornaments IPO GMP Today:
*The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Promoters of the Avax Apparels and Ornaments IPO
The Avax Apparels and Ornaments IPO is led by promoters Mr. Harinderpal Singh Sodhi and Mr. Harish Kumar.
About Avax Apparels and Ornaments IPO
Avax Apparels and Ornaments Limited operates in two distinct sectors: wholesale trading and online retail of silver ornaments. The company engages in wholesale trading of knitted cloth, sourced from manufacturers and supplied to wholesale companies and ready-made garment producers in Punjab. Recently, Avax has invested in state-of-the-art machinery to enhance their knitted cloth production.
In addition, Avax specializes in online retail of silver jewelry, offering a diverse range of products including silver rings, ladies’ pajeb, gents’ kada, plate sets, glasses, bangles, bowls, chains, and more. The company plans to begin manufacturing their own products in the near future, marking a significant step towards backward integration and reducing their reliance on external suppliers.
Avax Apparels And Ornaments IPO Company Financial Report
The company reported revenue of ₹22.06 crores in 2024 against ₹14.70 crores in 2023. The company reported a profit of ₹1.38 crores in 2024 against a profit of ₹0.69 crores in 2023.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹0.29 | ₹0.28 | ₹0.01 | ₹0.58 |
| 2023 | ₹14.70 | ₹13.76 | ₹0.69 | ₹3.47 |
| 2024 | ₹22.06 | ₹20.12 | ₹1.38 | ₹4.85 |
Avax Apparels And Ornaments IPO Valuation – FY2024
Check Avax Apparels And Ornaments IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 43.91% |
| ROCE: | 37.50% |
| EBITDA Margin: | 9.52% |
| PAT Margin: | 6.26% |
| Debt to equity ratio: | 0.23 |
| Earning Per Share (EPS): | ₹18.06 (Basic) |
| Price/Earning P/E Ratio: | 3.88 |
| Return on Net Worth (RoNW): | 43.91% |
| Net Asset Value (NAV): | ₹41.13 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Anand Rayons Limited | 2.09 | 21.60 | 9.02 | 24.2 | 3 Cr. |
| Aarnav Fashions Limited | 1.33 | 41.3 | 3.2 | 42.4 | 6 Cr. |
Avax Apparels And Ornaments IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
IPO Lead Managers aka Merchant Bankers
- SKI Capital Services Limited
Company Address
Avax Apparels And Ornaments Limited
611 6th Floor
r Jaina Tower II Distt. Centre
anakpuri, West Delhi,-110058
Phone: +011-44750642
Email: secretarial@avaxapparels.com
Website: https://avaxapparels.com/
Avax Apparels And Ornaments IPO FAQs
1. What are the key dates for the Avax Apparels and Ornaments IPO?
- IPO Open Date: September 20
- IPO Close Date: September 24
- Allotment Date: September 25
- Listing Date: September 27
2. Who are the promoters of Avax Apparels and Ornaments?
- The promoters of the company are Mr. Harinderpal Singh Sodhi and Mr. Harish Kumar.
3. What does Avax Apparels and Ornaments Limited do?
- Avax Apparels and Ornaments Limited is involved in two main business areas: wholesale trading of knitted cloth and online retail of silver ornaments. They procure knitted cloth from manufacturers and supply it to wholesale companies and ready-made garment manufacturers in Punjab. The company also sells a wide range of silver jewelry online, including rings, bangles, and more.
4. What are the company’s plans for the future?
- Avax Apparels and Ornaments plans to start its own manufacturing operations shortly. This move is part of their strategy for backward integration, allowing them to produce items they have previously outsourced.
5. How can I apply for the Avax Apparels and Ornaments IPO?
- Applications for the IPO can be submitted through various channels including online trading platforms, brokerage firms, or via physical application forms at designated banks and brokers.
6. What are the risks associated with investing in the IPO?
- As with any investment, there are risks involved, including market fluctuations and company-specific risks. It is advisable to conduct thorough research or consult with a financial advisor before making an investment decision.
7. How can I check my IPO allotment status?
- IPO allotment status can typically be checked on the official website of the IPO registrar or through the website of the stock exchange where the IPO is listed.
8. What should I do if I face issues with the IPO allotment or listing?
- If you encounter any issues, contact the IPO registrar or your brokerage firm for assistance. They can provide guidance and support regarding any concerns related to allotment or listing.
