On Monday, April 3, 2023, Avalon Technologies plans to initiate its initial public offering (IPO) of 19,839,450 shares with a par value of €2 each with a maximum of €865 cr. A reissue of shares with a maximum value of €320 cr and an offer for sale (OFS) shares with a maximum value of €545 Cr make up the IPO.
On Monday, April 3, 2023, Avalon Technologies plans to initiate its initial public offering (IPO) of 19,839,450 shares with a par value of €2 each with a maximum of €865 cr. A reissue of shares with a maximum value of €320 cr and an offer for sale (OFS) shares with a maximum value of €545 Cr make up the IPO.
The range of the offer price for shares is determined €415 to €436. A minimum of 34 shares should be offered, after which bids may be made in multiples of 34 shares. The acceptance deadline for the anchor investor’s offer is Friday, March 31, 2023. The subscription period for the offer begins on Monday, April 3, 2023 and ends on Thursday, April 6, 2023.
The range of the offer price for shares is determined €415 to €436. A minimum of 34 shares should be offered, after which bids may be made in multiples of 34 shares. The acceptance deadline for the anchor investor’s offer is Friday, March 31, 2023. The subscription period for the offer begins on Monday, April 3, 2023 and ends on Thursday, April 6, 2023.
The offer for sale includes shares with a total value of up to €131 Cr from Kunhamed Bicha and up to €172 Cr by Bhaskar Srinivasan; the “Promoter Selling Shareholders”; up to €16 cr by TP Imbichammad; up to €10 cr by Mariyam Bicha; up to €75.5 Cr by Anand Kumar; up to €65 Cr from Sareday Seshu Kumar and up to €75.5 Cr by Luquman Veedu Ediyanam.
The offer for sale includes shares with a total value of up to €131 Cr from Kunhamed Bicha and up to €172 Cr by Bhaskar Srinivasan; the “Promoter Selling Shareholders”; up to €16 cr by TP Imbichammad; up to €10 cr by Mariyam Bicha; up to €75.5 Cr by Anand Kumar; up to €65 Cr from Sareday Seshu Kumar and up to €75.5 Cr by Luquman Veedu Ediyanam.
Avalon Technologies said it intends to use the net proceeds from the new offering to fund the prepayment or repayment of all or a portion of certain outstanding debt held by the Company and one of its principal subsidiaries, ie Avalon Technology and Services Private Limited May be €145 cr; Funding of the estimated working capital needs of the company €90 cr; and balance for general corporate purposes.
Avalon Technologies said it intends to use the net proceeds from the new offering to fund the prepayment or repayment of all or a portion of certain outstanding debt held by the Company and one of its principal subsidiaries, ie Avalon Technology and Services Private Limited May be €145 cr; Funding of the company’s estimated working capital needs €90 cr; and balance for general corporate purposes.
The shares are being offered via the Company’s Red Herring prospectus dated 23 March 2023 (the “RHP”) filed with the Registrar of Companies, Tamil Nadu in Chennai. It is proposed to list the shares on recognized stock exchanges, namely the BSE and NSE. The intended exchange for the offering is the NSE.
The shares are being offered via the Company’s Red Herring prospectus dated 23 March 2023 (the “RHP”) filed with the Registrar of Companies, Tamil Nadu in Chennai. It is proposed to list the shares on recognized stock exchanges, namely the BSE and NSE. The intended exchange for the offering is the NSE.
JM Financial Limited, DAM Capital Advisors Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers of the public offering. Avalon Technologies is one of the leading companies for fully integrated Electronic Manufacturing Services (“EMS”).
JM Financial Limited, DAM Capital Advisors Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers of the public offering. Avalon Technologies is one of the leading companies for fully integrated Electronic Manufacturing Services (“EMS”).
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