January 14, 2025
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Avax Apparels listing Review
The shares issued at Rs. 70 are listed at Rs. 133, 90% premium over the issue price. The listing has been very much above the expectations of the grey market.
B.R.Goyal Infrastructure
Rs. 10
Subscription status of Avax Apparels IPO
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Avax Apparels & Ornaments IPO Price Rs. 70 Lot 2000 shares, Rs. 1.92 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 140.46 | 372.35 | 260.42 | 28,111 | |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Avax ApparelsIPO?
The Company engages in two distinct lines of business:
● Wholesale trading
● Online retail of silver ornaments
Wholesale trading: The Company operates in the wholesale trading of knitted cloth. They directly buy from manufacturers and supply wholesale to companies and readymade garment manufacturers in Punjab. The company specializes in knitted cloth, which are used for manufacturing of ladies and gents’ jackets
Online retail silver ornaments business: The Company operates in the business of online retail of silver ornaments. They offer a wide range of designs and articles with a choice of weight of products, such as silver rings, silver ladies pajeb, silver gents kada, silver plate set, silver glass, silver bangles, silver bowls, silver chains, and other silver jewellery. They are capable of supplying in all major cities across the country.
Get more information about the company @ https://www.avaxapparels.com
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Avax Apparels IPO Details |
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| IPO opens on | 7 January 2025 |
| IPO closes on | 9 January 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 274000 Shares / Rs 1.92 Crore |
| * Fresh Issue | 274000 Shares / Rs 1.92 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 16,000 Shares |
| Net offer to Public | 260000 Shares/ Rs.1.82 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 70 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (0%) | – | 0 |
| HNI (50%) | 130000 | 0.91 |
| RII (50%) | 130000 | 0.91 |
| Total Shares | 260000 | 1.82 |
| Retail portion will be oversubscribed by |
65 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 2000 Shares | Rs.140000 |
| Min HNI Application | 4000 Shares | Rs. 280000 |
Who are the Promoters of Avax Apparels?
(i) HARINDERPAL SINGH SODHI (ii) HARISH KUMAR are the promoters of the company.
What are the Objects of Avax Apparels IPO?
The Offer comprises of fresh issue of shares.
The Company intend to utilize the net proceeds of the Issue to meet the following objects:
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. To meet out the Working Capital requirements of the Company;
2. To meet out the General Corporate Purposes;
Tentative timetable |
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| IPO opens on | 7 January 2024 |
| IPO Closes on | 9 January 2025 |
| IPO Allotment on | 10 January 2025 |
| Refund Initiation | 13 January 2025 |
| Credit of Shares | 13 January 2025 |
| Listing on | 14 January 2025 |
| Registered Office of the Company 611 6th Floor Jaina Tower II Distt. Centre Janakpuri, West Delhi, Delhi- 110058 |
| Who is the Lead Manager of this IPO? SKI Capital Services ltd |
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Who is the Registrar to IPO? |
Avax Apparels IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Avax Apparels IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 0.29 | – | 9.40 | |
| 2022-23 | 14.70 | – | 9.07 | |
| 2023-24 | 22.06 | – | 18.06 | 43.91 |
| Book Value of the Share on 31.03.2024 |
41.13 | |||
| BV of the Share at cap price after IPO |
Rs. | – | ||
| Offer Price/upper band | Rs. | 70 | ||
Key Performance
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| Price/EPS of 23-24 | 3.88 |
| Price/BV Ratio | 1.70 |
| Debt/Equity Ratio | |
How Avax Apparels IPO compares with the Peers?
| As on date of RHP | FV | RONW | PE |
| Rs. | % | Ratio of | |
| Avax Apparels | 10 | 43.91 | 3.88 |
| Anand rayons | 10 | 9.02 | 21.60 |
| Arnav Fashions | 10 | 3.20 | 41.30 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Avax Apparels IPO Review by Paresh Gordhandas, CA & Research Analyst.
The Company engages in two distinct lines of business: 1) wholesale trading and 2) online retail of silver ornaments. The company has shown sharp rise in its topline and bottomline during last 3 years. However considering extremely small size of the IPO, such discussion on business and valuation aspect has no significance. With just 65 applications, retail portion can get one time subscribed. So huge oversubscription is anticipated.
+ from fundamental angle: May avoid
+ from grey market angle: Apply
Quicklinks
Avax Apparels IPO GMP today allotment, review?
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