Avalon Technologies IPO
Avalon Technologies Limited (AVALON) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 18 April 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -1.4% (likely range -12% to +4%), day's high +2.9%, chance of a gain 33%. Actual: 0.0% at the open, 0.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 62,53,012 | 2,23,03,864 | 3.57x | |
| NII (HNI) total | 31,26,505 | 12,76,326 | 0.41x | |
| Big NII (above ₹10 lakh) | 20,84,337 | 8,66,286 | 0.42x | |
| Small NII (₹2-10 lakh) | 10,42,168 | 4,10,040 | 0.39x | |
| Retail | 20,84,337 | 17,52,666 | 0.84x | |
| Total | 1,14,63,854 | 2,53,32,856 | 2.21x |
Bids on NSE and BSE together, as published by NSE, as of 06 Apr 2023, 07:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Avalon Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
| KFin TechnologiesDec 2022 | 4.17x | 0.23x | 1.36x | 2.59x | ₹1,582 Cr | +0.3% | +1.9% |
| Paradeep PhosphatesMay 2022 | 3.01x | 0.82x | 1.37x | 1.75x | ₹1,637 Cr | +4.8% | +12.5% |
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| DAM Capital Advisors | 37 | +13.6% | 59% |
| IIFL Securities | 94 | +19.3% | 71% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Avalon Technologies IPO price band and lot size? ₹415–436 per share, with a lot of 34 shares, so the smallest retail bid is ₹14,824.
How many times has it been subscribed? 2.21x overall: QIB 3.57x, NII 0.41x, retail 0.84x.
How did it list? It opened at ₹436, +0.0% against the issue price of ₹436, and closed its first day -8.7%.
