Avax Apparels IPO shares debuted on the BSE SME platform on January 14 with an impressive 90% premium, listing at ₹133 per share against the IPO price of ₹70. The strong demand in the primary market drove the company’s market valuation to ₹14.51 crore post-listing.
Avax Apparels IPO Subscription Status
Avax Apparels and Ornaments IPO was subscribed 260.42 times and listed on January 14, 2025, The Avax Apparels and Ornaments IPO saw strong demand across investor categories. The Non-Institutional Buyers’ portion was subscribed 140.46 times, while Retail Investors’ quota was oversubscribed 372.35 times. A total of 2.6 lakh shares were offered, with bids for 6.77 crore shares, amounting to ₹473.97 crores. The IPO received 28,111 total applications.
Avax Apparels IPO GMP
Avax Apparels IPO Listed at ₹133, a 90% premium over its issue price of ₹70. The last Grey Market Premium (GMP) stood at ₹20, indicating an expected listing price of ₹90, which was surpassed with the actual listing price being higher than the GMP. This marked a positive listing for the IPO, with a notable 28.57% potential profit for investors.
About Avax Apparels IPO
The Avax Apparels IPO opens for subscription from January 7 to January 9, 2025, aiming to raise ₹1.92 crores with a fixed price of ₹70 per share. The IPO will allot shares on January 10, 2025, and is expected to list on BSE SME on January 14, 2025.
- Retail Investors: Minimum investment of ₹1,40,000 for 2,000 shares.
- HNI Investors: Minimum investment of ₹2,80,000 for 4,000 shares.
- No QIB Allocation: 50% of shares allocated to retail investors, 50% to HNIs.
The company reported ₹22.06 crores in revenue and ₹1.38 crores in profit for 2024, making it a promising opportunity for long-term investors.
About Company
Incorporated in June 2005, Avax Apparels and Ornaments Limited operates in two distinct business segments: wholesale trading of knitted fabric and online retail of silver ornaments. The company wholesales knitted fabric and sells a wide range of silver jewellery products such as rings, ladies’ payal, gents’ kada, plate sets, glass, bangles, bowls, chains, and other jewellery across major cities in India.
The company benefits from its strategic location in the hub of cloth manufacturing, allowing it to leverage geographical advantages. Additionally, the growing demand for these products and the strong business relationships built by the management contribute to its success.
Avax Apparels stands out due to its excellent customer relations, a skilled and professional team, and a strong track record of management. As of September 2024, the company employs 7 full-term employees, further reinforcing its operational capacity and expertise in both business segments.
Financial Information
Avax Apparels’ financial performance shows significant growth from 2022 to September 2024. In 2024, revenue reached ₹22.06 crores, with a profit of ₹1.38 crores. As of September 2024, the company reported a revenue of ₹15.01 crores, with a profit of ₹0.91 crores and assets totaling ₹10.89 crores.