Applications to subscribe to Avalon Technologies’ initial public offering (IPO) will open on Monday, April 3. It will run for four days until Thursday, April 6. For anchor investors, the Alavon Technologies IPO opened on March 31.
With the IPO, the company is aiming to raise Rs 865 crore. It will include a fresh issue of shares worth Rs 320 crore. The company intends to use the proceeds of the offering to fund working capital, debt repayments and general corporate purposes.
Market watchers said the IPO’s market premium (GMP) was as high as Rs 22 per share. Subscriptions will start on April 3 and end on April 6. The face value per share is set at Rs 2.