Avax Apparels And Ornaments
CLOSEDIPO Date: 7 Jan - 9 Jan 2025
Listing Date: 14 Jan 2025
Price Range
₹70 - ₹70 per share
Issue Size
2 Cr
Min Investment
₹1,40,000
Lot Size
2000 Shares
Schedule of Avax Apparels And Ornaments
Issue open date
7 Jan 2025
Issue close date
9 Jan 2025
UPI mandate deadline
9 Jan 2025 (5 PM)
Allotment finalization
10 Jan 2025
Share credit
13 Jan 2025
Listing date
14 Jan 2025
Mandate end date
24 Jan 2025
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 2 Cr |
| Fresh Issue | 1.92 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 10 Jan 2025 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 14 Jan 2025 | ₹70 | ₹20 | ₹90 (28.57%) |
| 13 Jan 2025 | ₹70 | ₹20 | ₹90 (28.57%) |
| 11 Jan 2025 | ₹70 | ₹10 | ₹80 (14%) |
| 10 Jan 2025 | ₹70 | ₹10 | ₹80 (14%) |
| 9 Jan 2025 | ₹70 | ₹10 | ₹80 (14%) |
| 8 Jan 2025 | ₹70 | ₹10 | ₹80 (14%) |
| 7 Jan 2025 | ₹70 | ₹10 | ₹80 (14%) |
| 6 Jan 2025 | ₹70 | ₹21 | ₹91 (30%) |
Performance Avax Apparels And Ornaments
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| ₹70 - ₹70 per share | ₹ 138 (99.5%) | ₹ 111 | 58.57% |
About Avax Apparels And Ornaments
Avax Apparels And Ornaments Limited, incorporated in June 2005, is engaged in wholesale trading of knitted fabric and online retail of silver ornaments. The company supplies knitted fabric to readymade garment manufacturers and has recently invested in machinery to begin manufacturing its own knitted cloth. It also offers a range of silver jewellery, including rings, payals, kadas, bangles, and other items, with distribution across major cities in India.
| Founded in | 2005 |
| Managing director | Mr. Harinderpal Singh Sodhi |
| Parent organization | Avax Apparels and Ornaments Ltd |
Financial Overview
Strengths
- Strong network with key sector players for strategic gains
- Strategic location for efficient operations and cost savings
- Excellent customer relations ensuring satisfaction and repeat business
Risks
- Possible shift to focus only on the textile business, reducing reliance on silver ornaments.
- Seasonal demand fluctuations may impact revenue for silver ornaments and knitted fabric.
- Economic downturns could lower discretionary spending on silver ornaments.
- Vendor issues, counterfeits, or negative publicity may harm the brand.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | N/A |
| Non-Institutional Investors (NIIs) | 140 |
| Retail Individual Investors (RIIs) | 372 |
| Employee | N/A |
| Total | 260 |