Avalon Technology's IPO opens, you will get a chance to earn like this - Newztezz Online


Monday, April 3, 2023

Avalon Technology's IPO opens, you will get a chance to earn like this

Avalon Technology will use the money raised from the IPO to pay down debt, raise funds for working capital and meet general corporate needs. You can also earn by buying this IPO. Let's know how?

If you are planning to invest in IPO then you have a great opportunity. We are saying this because the IPO of Avalon Technologies, an electronic manufacturing services company, has opened today and you have only a few days to buy the IPO. Let us give you complete information about it.

Let us tell you, the public offering price of this IPO is Rs 415-436 per share. You have only time till April 6 to invest in it. If you buy this in the meantime, you can earn well from it. Avalon Technology wants to raise Rs 865 crore through this IPO.

Earning opportunity is till 6th April

According to the company details in the DRHP filing, the opportunity to buy the IPO will be available to the common people from April 3-6. In this, fresh equity shares worth Rs 320 crore will be issued. At the same time, promoters and existing shareholders will sell stake worth Rs 545 crore through offer for sale.

Let me tell you, the company had recently completed a pre-IPO placement of Rs 160 crore. This includes primary share sales of Rs 80 crore and secondary share sales of Rs 80 crore. The company will work with the amount received in the IPO to repay its debt, fund for working capital and meet general corporate needs. The distribution of this IPO will be 75% for qualified institutional investors (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors. In this, investors can bid for at least 34 shares.

How will you get the opportunity to earn?

According to Choice Broking, investing in this IPO will be a profitable deal. At the same time, Reliance Securities has also given the right advice to invest in this IPO. Swastika Investmart and Canara Bank Securities have advised to buy this IPO for long term investment. According to experts, if you invest in it, you are likely to make huge profits in the coming times.

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