The Avax Apparels and Ornaments IPO will open for subscription on September 20, 2024, and close on September 24, 2024. This is a Fixed Price Issue aiming to raise approximately ₹1.92 crores. The offer consists of a fresh issue worth ₹1.92 crores along with an offer for sale of equity shares, each carrying a face value of ₹10.
The IPO is priced at ₹70 per share, with a 50% allocation for retail investors and the remaining 50% reserved for High Net-Worth Individuals (HNIs). No portion is allocated to Qualified Institutional Buyers (QIBs). The shares are expected to be listed on the BSE on September 27, 2024, with allotment scheduled for September 25, 2024.
In terms of financials, the company reported revenues of ₹22.06 crores in 2024, up from ₹14.70 crores in 2023. Net profits also saw notable growth, reaching ₹1.38 crores in 2024 compared to ₹0.69 crores in 2023. Given this financial performance, long-term investors might see potential in this IPO.
Avax Apparels and Ornaments IPO Objectives
The company intends to use the net proceeds from the IPO for the following purposes:
To fund its working capital requirements.
To cover general corporate purposes.
Avax Apparels and Ornaments IPO Review (Should You Apply?)
Review update: Coming soon
Avax Apparels and Ornaments IPO Date & Price Band Details
| IPO Open Date: | September 20, 2024 |
| IPO Close Date: | September 24, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹70 Per Share |
| Issue Size: | Approx ₹1.92 Crores |
| Fresh Issue: | Approx ₹1.92 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Fixed Price Issue |
| IPO Listing: | BSE SME |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 00% |
| NII Quota: | Not more than 50% |
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Avax Apparels and Ornaments IPO Lot Size
The minimum lot size for the Avax Apparels and Ornaments IPO is 2,000 shares, with a required application amount of ₹1,40,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2000 | ₹ 1,40,000 |
| Retail Maximum | 1 | 2000 | ₹ 1,40,000 |
| HNI Minimum | 2 | 4000 | ₹ 2,80,000 |
Avax Apparels and Ornaments IPO Timeline
The Avax Apparels and Ornaments IPO will open for subscription on September 20 and close on September 24. Allotments will be finalized on September 25, with the company’s shares expected to be listed on September 27.
| IPO Open Date: | September 20, 2024 |
| IPO Close Date: | September 24, 2024 |
| Basis of Allotment: | September 25, 2024 |
| Refunds: | September 26, 2024 |
| Credit to Demat Account: | September 26, 2024 |
| IPO Listing Date: | September 27, 2024 |
Promoters of the Avax Apparels and Ornaments IPO
The Avax Apparels and Ornaments IPO is spearheaded by Mr. Harinderpal Singh Sodhi and Mr. Harish Kumar.
About Avax Apparels and Ornaments
Avax Apparels and Ornaments Limited operates in two primary sectors: wholesale trading and online retail of silver ornaments. The company engages in the wholesale trading of knitted fabric, which it sources from manufacturers to supply to wholesale businesses and ready-made garment producers in Punjab. Recently, Avax has invested in advanced machinery to improve its knitted fabric production.
Additionally, Avax specializes in the online retail of silver jewelry, offering a wide array of products, including silver rings, ladies’ pajeb, gents’ kada, plate sets, glasses, bangles, bowls, chains, and more. The company plans to begin manufacturing its own products soon, marking a significant move towards backward integration and reducing dependency on external suppliers.
Avax Apparels and Ornaments IPO Financial Report
In the financial year 2024, the company reported a revenue of ₹22.06 crores, an increase from ₹14.70 crores in 2023. The profit for 2024 was ₹1.38 crores, up from ₹0.69 crores the previous year.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹ 0.29 | ₹ 0.28 | ₹ 0.01 | ₹ 0.58 |
| 2023 | ₹ 14.70 | ₹ 13.76 | ₹ 0.69 | ₹ 3.47 |
| 2024 | ₹ 22.06 | ₹ 20.12 | ₹ 1.38 | ₹ 4.85 |
Avax Apparels And Ornaments IPO Valuation – FY2024
Check Avax Apparels And Ornaments IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 43.91% |
| ROCE: | 37.50% |
| EBITDA Margin: | 9.52% |
| PAT Margin: | 6.26% |
| Debt to equity ratio: | 0.23 |
| Earning Per Share (EPS): | ₹18.06 (Basic) |
| Price/Earning P/E Ratio: | 3.88 |
| Return on Net Worth (RoNW): | 43.91% |
| Net Asset Value (NAV): | ₹ 41.13 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Anand Rayons Limited | 2.09 | 21.6 | 9.02 | 24.2 | 3 Cr. |
| Aarnav Fashions Limited | 1.33 | 41.3 | 3.2 | 42.4 | 6 Cr. |
Avax Apparels And Ornaments IPO Registrar
- Skyline Financial Services Private Ltd
- Phone: 02228511022
- Email: ipo@skylinerta.com
- Website: https://www.skylinerta.com/ipo.php
IPO Lead Managers aka Merchant Bankers
SKI Capital Services Limited
Company Address
- Avax Apparels And Ornaments Limited
- 611 6th Floor
- r Jaina Tower II Distt. Centre
- anakpuri, West Delhi,-110058
- Phone: +011-44750642
- Email: secretarial@avaxapparels.com
- Website: https://avaxapparels.com/
Avax Apparels and Ornaments IPO FAQs
What is the Avax Apparels and Ornaments?
The Avax Apparels and Ornaments IPO is a main-board IPO aiming to raise ₹1.92 crores. The issue is priced at ₹70 per equity share, and the IPO will be listed on the BSE.
When will the Avax Apparels and Ornaments IPO open for subscription?
The IPO will open for subscription on September 20, 2024, for Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors. It will close on September 24, 2024.
What is the investor portion for the Avax Apparels and Ornaments IPO?
The investor allocation for the IPO is 0% for QIB, 50% for NII, and 50% for Retail Investors.
How can I apply for the Avax Apparels and Ornaments IPO?
You can apply for the Avax Apparels and Ornaments IPO through ASBA online via your bank account. Alternatively, you can apply through UPI via your stockbroker or by filling out an offline form with your stockbroker.
What is the issue size of the Avax Apparels and Ornaments IPO?
The issue size for the Avax Apparels and Ornaments IPO is ₹1.92 crores.
What is the price band for the Avax Apparels and Ornaments IPO?
The price band for the Avax Apparels and Ornaments IPO is ₹70.
What is the lot size for the Avax Apparels and Ornaments IPO?
The minimum bid size is 2,000 shares, requiring an investment of ₹1,40,000