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Avax Apparels and Ornaments IPO: Key Information

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Avax Apparels and Ornaments IPO is a fixed price issue aimed at raising ₹1.92 crores through the issuance of 2.74 lakh fresh shares. The IPO subscription opens on September 20, 2024, and closes on September 24, 2024. The allotment is expected to be finalized on September 25, 2024, and the listing is scheduled for September 27, 2024 on the BSE SME platform.

The IPO is priced at ₹70 per share, with a minimum lot size of 2,000 shares. Retail investors need to invest at least ₹1,40,000, while High Net Worth Investors (HNI) must apply for at least 2 lots (4,000 shares) for ₹2,80,000.

SKI Capital Services Limited is the lead manager for the IPO, with Skyline Financial Services Private Ltd serving as the registrar. SKI Capital Services is also the market maker for this issue, ensuring liquidity for investors.

Avax Apparels and Ornaments IPO Details and Objectives

Purpose of the IPO
The proceeds from the Avax Apparels and Ornaments IPO will be primarily used to meet the company's working capital requirements and support general corporate purposes. The raised funds will help the company expand its operations and enhance its business capabilities.

IPO Details

  • IPO Date: September 20, 2024 to September 24, 2024
  • Face Value: ₹10 per share
  • Price: ₹70 per share
  • Lot Size: 2,000 shares
  • Total Issue Size: 2,74,000 shares (₹1.92 crores)

Key Dates to Remember

  • IPO Open Date: Friday, September 20, 2024
  • IPO Close Date: Tuesday, September 24, 2024
  • Basis of Allotment: Wednesday, September 25, 2024
  • Initiation of Refunds: Thursday, September 26, 2024
  • Credit of Shares to Demat Account: Thursday, September 26, 2024
  • Listing Date: Friday, September 27, 2024
  • Cut-off Time for UPI Mandate Confirmation: 5 PM on September 24, 2024

Avax Apparels and Ornaments IPO: Key Details

  • IPO Date: September 20, 2024, to September 24, 2024
  • Face Value: ₹10 per share
  • Issue Price: ₹70 per share
  • Lot Size: 2,000 shares per lot
  • Total Issue Size: 2,74,000 shares (₹1.92 crores)
  • Fresh Issue: 2,74,000 shares (₹1.92 crores)
  • Issue Type: Fixed Price Issue IPO
  • Listing At: BSE SME
  • Pre-Issue Shareholding: 765,158 shares
  • Post-Issue Shareholding: 1,039,158 shares
  • Market Maker Portion: 14,000 shares

This fixed price IPO offers an opportunity for investors, with the company issuing 2.74 lakh fresh shares to raise ₹1.92 crores, further enhancing its operational and financial strength.

How to Apply for the Avax Apparels and Ornaments IPO

  • Online Application Process:
    To apply for the Avax Apparels and Ornaments IPO, investors can use their demat account through platforms like Bajaj Broking. The application process includes:
    • Logging into your trading platform or demat account.
    • Selecting the Avax Apparels IPO from the IPO section.
    • Bidding for the lot size and completing the payment via UPI or ASBA.

Financial Performance of Avax Apparels and Ornaments Limited

  • Revenue Growth: The company’s revenue increased by 50%, reaching ₹2,205.98 lakhs in FY2024 compared to ₹1,470.21 lakhs in FY2023.
  • Profit After Tax (PAT): PAT surged by 99%, growing to ₹138.19 lakhs in FY2024 from ₹69.44 lakhs in FY2023.
  • Assets: Total assets increased to ₹484.6 lakhs in FY2024, up from ₹346.89 lakhs in FY2023.
  • Net Worth: The company’s net worth grew significantly, reaching ₹314.68 lakhs in FY2024, compared to ₹176.49 lakhs in FY2023.
  • Borrowings: Total borrowings rose to ₹41.13 lakhs in FY2024, up from ₹23.07 lakhs in FY2023. 

Investment Risks and Opportunities

Potential Risks of Investing in the IPO

  • Dependence on seasonal demand for garments and fashion accessories could affect revenue consistency.
  • Competition from well-established players in the fashion industry poses a challenge.

Opportunities and Growth Potential

  • The company’s focus on sustainable fashion and the growing demand for eco-friendly products offer significant growth opportunities.
  • Expansion into new international markets presents a chance to enhance its revenue streams.

Conclusion

The Avax Apparels and Ornaments IPO presents a promising opportunity for investors looking to participate in the growing fashion and accessories market. With strong fundamentals and ambitious growth plans, the company is well-positioned to capitalize on emerging market trends. 

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Frequently Asked Questions

What is the Avax Apparels and Ornaments IPO and why is it significant?

Answer Field

The IPO allows Avax Apparels to raise capital for business expansion, offering investors an opportunity to participate in a growing fashion industry.

What is the price band for the Avax Apparels and Ornaments IPO, and how was it determined?

Answer Field

The price band is ₹70 per share, determined based on the company’s financials and growth prospects.

What are the key risks and rewards of investing in the Avax Apparels and Ornaments Ltd IPO?

Answer Field

Key risks include competition and dependence on seasonal demand, while rewards include potential growth in eco-friendly fashion and international market expansion.

When will the Avax Apparels and Ornaments IPO shares be listed, and what is the expected market response?

Answer Field

The shares will be listed on September 27, 2024. Market response depends on several factors. 

What documents should I review before investing in the Avax Apparels and Ornaments IPO?

Answer Field

Before investing, review the company’s Red Herring Prospectus (RHP), financial statements, and IPO terms.

What are the lock-up period details for the Avax Apparels and Ornaments Ltd IPO?

Answer Field

The lock-up period for promoters and significant shareholders will typically be one year from the date of allotment.

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