Avana Electrosystems Limited - IPO

Avana Electrosystems Limited IPO Details

Initial public offer up to 59,70,000 equity shares of face value Rs, 10 each (Equity Sharese) of Avana Electrosystems Ltd ( The Company or The Issuer) for cash at a price of Rs. 56-Rs.59 per equity share including a share premium of Rs.46-Rs. 49 per equity share (TheOffer Price) Aggregating to Rs. 33.43-Rs. 35.22 Crores (The Offer) Comprising of a fresh issue of up to 51,76,000 equity shares aggregating to Rs. 28.99-Rs. 30.54 Crores (TheFresh Issue) and an offer for sale of up to 7,94,000 equity shares by the promoter selling shareholders (Offer for Sale) aggregating to Rs. 4.45-Rs. 4.68 Crores of which up to 3,00,000 equity shares aggregating to Rs. 1.68-Rs. 1.77 Crores will be reserved for subscription by market maker to the offer (TheMarket Maker Reservation Portion). The Offer less the market maker reservation portion i.e. Net offer of up to 56,70,000 equity share aggregating to Rs. 31.75-Rs. 33.45 Crores (TheNet Offer). The Fresh offer and the net offer will constitute 26.36% and 25.04% respectively of the post offer paid-up equity share capital of the company.Price Band: Rs. 56 to Rs. 59 per equity share of face value Rs. 10/- each. The floor price is 5.6 times the face value of the equity shares and the cap price is 5.9 times the face value of the equity shares. Bids can be made for a minimum of 2000 equity shares and in multiples of 2000 equity shares thereafter.

Objective of issue

Capital expenditure towards civil construction, internal electric work and internal plumbing to set up an integrated manufacturing unit. To meet Working Capital requirements of the Company. General Corporate Purposes.

Avana Electrosystems Limited Contact Details

Avana Electrosystems Limited, #30 Ramana Residency, 4th Cross Sampige Rd, Malleswaram, Bangalore - 560003

Phone - 91-80-23460815-818

Fax - 91-80-23460819

Email - cs@avanelectrosystems.com

Website - www.avanaelectrosystems.com