Initial Public Offerings (IPO) Another opportunity is coming for investors earning through Electronic manufacturing services company Avaloan Technologies is set to launch its IPO. The company raised Rs. 1025 crore has been filed with market regulator SEBI. Under this IPO, Rs. 400 crores of new equity shares will be issued. Shares will be offered for sale worth Rs 625 crore. 28 companies have been allowed to bring IPO in the current year. Through this IPO, a total of Rs. These companies plan to raise 45,000 crores.
How many shares will sell under OFS?
According to the information, under this IPO Rs. 400 crores of new equity shares will be issued. Shares will be offered for sale worth Rs 625 crore. Through this offer for sale, the shareholders and promoters of the company will sell their stake. Under Kunhamed Bicha OFS Rs. 130 crore shares will be sold. On the other hand Bhaskar Srinivasan Rs. 210 crore shares will be sold. TP Imbichammad his Rs. 34 crore will sell shares and Maryam Bicha will sell Rs. 12 crore shares will be sold.
The company to repay its debt Rs. 150 crore will be used.
By June 2022, the company has a total of Rs. 312.27 crores in debt. Out of the proceeds from the company’s IPO, Rs. 150 crore will be used to repay the debt. Apart from this IPO Rs. 150 crore will be used to meet the working capital requirements of the company. Company Rs. 80 crore may also consider a pre-IPO issue. In such a situation the size of the new IPO will decrease.
Avaloan Tech is a fully integrated electronic manufacturing company. The company sells its products to all companies in the US, China, Netherlands and Japan along with the domestic market. The company has a total of 12 manufacturing units in India and the US.
Merchant bankers JM Financial, DAM Capital Advisors, IIFL Securities, Nomura Financial Advisory and Security India are the book running lead managers for the IPO.
Avaloan Technologies’ total revenue in FY 2022 is Rs. 851.65 crores. The company’s profit in FY 2022 is Rs. 68.16 crore, while the company’s profit in FY 2021 was Rs. 23.08 crores.
28 companies got approval for IPO
SEBI has approved 28 companies to bring initial public offering (IPO) during April-July in the financial year 2022-23. Through this IPO, a total of Rs. These companies plan to raise 45,000 crores. Companies that have received regulatory approval for the IPO include lifestyle retail brand Fabindia, FIH Mobiles and Foxconn Technology Group subsidiary-India FIH, TVS Supply Chain Solutions, Blackstone-backed Aadhaar Housing Finance and McLeods Pharmaceuticals and Kids Clinic India. So far in the current financial year, 11 companies have raised Rs. 33,254 crore has been collected. A major part of this is LIC’s IPO at Rs. 20,557 crores.
. Source