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Business News/ Markets / Ipo/  Avalon Technologies IPO fully subscribed on last day. Latest GMP, review, subscription status, apply or not?
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Avalon Technologies IPO fully subscribed on last day. Latest GMP, review, subscription status, apply or not?

Avalon Technologies IPO GMP today is ₹30, say stock market observers

Avalon Technologies IPO subscription will end on 6th April 2023 i.e. on Thursday. (Shutterstock)Premium
Avalon Technologies IPO subscription will end on 6th April 2023 i.e. on Thursday. (Shutterstock)

Avalon Technologies IPO: The initial public offering (IPO) of Avalon Technologies Limited opened for subscription on 3rd April 2023 and it will remain open for bidding till 6th April 2023. This means, today is the last date to apply for the public issue worth 865 crore. Meanwhile, after trend reversal on Dalal Street, grey market is also dropping positive signals in regard to Avalon Technologies IPO. 

According to market observers, shares of Avalon Technologies Limited are available at a premium of 30 in grey market today. However, after dull response to the IPO on first two days, Avalon Technologies IPO has got fully subscribed. on last day of bidding. By 2:35 PM on day 3 of bidding, Avalon Technologies IPO subscription status reveals that the public issue has been subscribed 1.43 times whereas its retail portion has been subscribed 0.70 times.

Avalon Technologies IPO GMP today

According to market observers, Avalon Technologies IPO grey market premium (GMP) today is 30, which is 5 higher from its yesterday's close. Market observers said that trend reversal on Dalal Street has a big role in rising grey market premium of the public issue as it was once at 10 ahead of the Avalon Technologies IPO subscription opening date. They said that Avalon Technologies IPO GMP today is 30, which means grey market is expecting that Avalon Technologies IPO listing price would be around 466 ( 436 + 30), which is around 7 per cent higher from Avalon Technologies IPO price band of 415 to 436 per equity share.

Avalon Technologies IPO subscription status

By 2:35 PM on day 3 of bidding, Avalon Technologies IPO has been subscribed 1.43 times whereas its retail portion has been subscribed 0.70 times. The public issue has been subscribed 0.16 times in NII category.

Avalon Technologies IPO review

Giving 'subscribe' tag to high risk investors for long term, Swastika Investmart said, "Avalon Technologies Ltd. is a fully integrated EMS company with end to end operations in delivering box-build solutions in India. It operates a business with high entry barriers and has a global delivery footprint. The company has strong order book. It has strong and stable financial performance with improving margins; however, its PAT margin for the first eight months of FY22 marked a decline, and it also has a high debt ratio currently. Secondly, it has a limited number of clients and serves a specific segment where a change in customer preference might affect it adversely. The issue is fully priced at a P/E ratio of around 39X; thus, after considering all the factors, we will recommend to subscribe this issue for high risk Investors for long term."

Giving 'subscribe' tag for long term, Investmentz report says, "ATL is engaged in the global supply of critical and specialized components to industries across the board with a major focus on clean energy and new product developments used in Automotive (EV’s), Aerospace, Defence and Hydrogen space. Favourable policy initiatives such as ‘Make in India’ program of GOI, leading to high customer retention and cost-efficient manufacturing. Further, Company stand to benefit from the tailwinds of Aatmanirbhar Bharat and the Production Linked Incentive Scheme (PLI Scheme) across verticals, which would help to reduce import dependence as well as position India as an export hub. Hence, we recommend subscribing the issue from a long-term prospective."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 06 Apr 2023, 08:02 AM IST
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