Electronic manufacturing services company Avalon Technologies is expected to finalise the IPO share allotment on April 12. The subscribers can check their allotment status either on the BSE website or the portal of IPO registrar by following a few easy steps.
On BSE website
a) Select issue type as equity and issue name Avalon Technologies Limited
b) Enter either the application number or the permanent account number (PAN)
c) Check the box "I'm not a robot" and click on the search button
a) Select the company name as Avalon Technologies Limited - IPO
b) Select and accordingly enter either the PAN, application number, or DP client ID
C) Click on the search button
The company will credit refunds into the accounts of unsuccessful investors by April 13 and shares will be credited to eligible investors by April 17.
The stock will list on the bourses on April 18.
The grey market is indicating a tepid debut for Avalon, as shares are trading at around 2 percent premium over the expected final price of Rs 436 a share despite positive equity market conditions, analysts said.
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The grey market is an unofficial platform for trading in IPO shares and investors track it to get an idea about the listing price.
The Rs 865-crore IPO of the electronic manufacturing services company got a good response. The offer, which closed on April 6, was subscribed 2.21 times. The portion set aside for qualified institutional buyers was booked 3.57 times but the portions set aside for other investors did not get fully subscribed.
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Retail investors bought 84 percent of their allotted shares and high net worth individuals only 41 percent.
The offer, which opened for subscription on April 3, was the first offer of the FY24 . It comprised fresh issuance of shares worth Rs 320 crore and an offer for sale of Rs 545 crore by shareholders and promoters.
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