Avax Apparels And Ornaments IPO

NiftyTrader • September 17, 2024

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Avax Apparels And Ornaments IPO opens for subscription on January 7, 2025 and closes on January 9, 2025. The allotment for the Avax Apparels And Ornaments IPO is expected to be finalized on Friday, January 10, 2025. Avax Apparels And Ornaments IPO will list on BSE SME with tentative listing date fixed as Tuesday, January 14, 2025.

Avax Apparels And Ornaments IPO price is ₹ 70 per share. The minimum lot size for an application is 2000. The minimum amount of investment required by retail investors is ₹1,40,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹2,80,000.

Avax Apparels And Ornaments IPO is a fixed price issue of Rs 1.92 crores. The issue is entirely a fresh issue of 2.74 lakh shares.

Avax Apparels And Ornaments IPO Details

IPO Date	January 7, 2025 to January 9, 2025
Listing Date	[.]
Face Value	₹10 per share
Price	₹70 per share
Lot Size	2000 Shares
Total Issue Size	274,000 shares (aggregating up to ₹1.92 Cr)
Fresh Issue	274,000 shares (aggregating up to ₹1.92 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Shareholding pre-issue	765,158
Shareholding post-issue	1,039,158
Market Maker portion	14,000 shares

Avax Apparels And Ornaments IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amounts.

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹140,000
Retail (Max)	1	2000	₹140,000
S-HNI (Min)	2	4000	₹280,000

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

About Avax Apparels And Ornaments

Incorporated in June 2005, Avax Apparels And Ornaments 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 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

Locational advantage
Good network and connections with the players in the Sector
Excellent Customer Relations
Experienced and professional Team
Good Track record of the management

As of September 2024, the company has 7 full term employees.

Avax Apparels And Ornaments Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	484.6	346.89	57.66
Revenue	2,205.98	1,470.21	28.87
Profit After Tax	138.19	69.44	1.01
Net Worth	314.68	176.49	1.65
Total Borrowing	41.13	23.07	15.28
			Amount in ₹ Lakhs

Avax Apparels And Ornaments IPO Reservation

Investor Category	Shares Offered
Retail Shares Offered	50% of the Net Issue
Other Shares Offered	50% of the Net Issue

Avax Apparels And Ornaments IPO Timeline (Tentative Schedule)

Avax Apparels And Ornaments IPO opens on January 7, 2025, and closes on January 9, 2025.

IPO Open Date	Tuesday, January 7, 2025
IPO Close Date	Thursday, January 9, 2025
Basis of Allotment	Friday, January 10, 2025
Initiation of Refunds	Monday, January 13, 2025
A credit of Shares to Demat	Monday, January 13, 2025
Listing Date	Tuesday, January 14, 2025
Cut-off time for UPI mandate confirmation	5 PM on January 9, 2025