Avalon Technologies Limited is an Electronic Manufacturing Services (EMS) company that was founded in 1999. The company has a unique global delivery model that allows them to offer end-to-end capabilities in delivering box-build solutions in India. They are one of the leading companies in the EMS segment in India in terms of revenue in Fiscal 2022.
Avalon Technologies Limited provides a full stack product and solution suite, from PCB design and assembly to the manufacture of complete electronic systems, to global OEMs located in various countries such as China, Netherlands, United States, and Japan. The company’s offerings include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
Avalon Technologies IPO Details
| IPO Date | Apr 3, 2023 to Apr 6, 2023 |
| Listing Date | Apr 18, 2023 |
| Face Value | ₹2 per share |
| Price | ₹415 to ₹436 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 19,839,450 shares (aggregating up to ₹865.00 Cr) |
| Fresh Issue | 7,339,450 shares (aggregating up to ₹320.00 Cr) |
| Offer for Sale | 12,500,000 shares of ₹2 (aggregating up to ₹545.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Avalon Technologies IPO Tentative Timetable
IPO opens on Apr 3, 2023, and closes on Apr 6, 2023.
| Event | Tentative Date |
| Opening Date | Apr 3, 2023 |
| Closing Date | Apr 6, 2023 |
| Basis of Allotment | Apr 12, 2023 |
| Initiation of Refunds | Apr 13, 2023 |
| Credit of Shares to Demat | Apr 17, 2023 |
| Listing Date | Apr 18, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Company Overview
Avalon Technologies Limited is a leading Electronic Manufacturing Services (EMS) company that provides end-to-end capabilities for delivering box-build solutions in India. The company was founded in 1999 and has a unique global delivery model that allows them to offer a full-stack product and solution suite, from printed circuit board (PCB) design and assembly to the manufacture of complete electronic systems (Box Build).
Avalon Technologies Limited has established itself as one of the leaders in the EMS segment in India, with a focus on high-value precision engineered products. The company serves global original equipment manufacturers (OEMs) located in various countries including China, Netherlands, United States, and Japan. Its offerings include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
Industry Overview
The electronic manufacturing services (EMS) industry is a fast-growing sector that provides outsourced design, manufacturing, and testing services to various industries such as automotive, aerospace, telecommunications, and consumer electronics. The EMS market is driven by the increasing demand for electronic devices, the need for cost-effective manufacturing solutions, and the growth of the Internet of Things (IoT) and Industry 4.0.
The global EMS market is expected to grow at a compound annual growth rate (CAGR) of around 7% between 2021 and 2026, driven by factors such as the increasing adoption of automation in manufacturing processes, the growth of e-commerce, and the increasing demand for high-quality and reliable electronic products. The EMS market in India is also growing rapidly, driven by factors such as the government’s initiatives to promote electronics manufacturing in the country, the availability of skilled labor at competitive costs, and the increasing demand for electronic products in the domestic market.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
| 31-Mar-20 | 449.65 | 653.15 | 12.33 | 248.48 |
| 31-Mar-21 | 512.48 | 695.90 | 23.08 | 295.33 |
| 31-Mar-22 | 587.96 | 851.65 | 68.16 | 294.05 |
| Amount in ₹ Crore | ||||
Objects of the Issue
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and one of the Material Subsidiaries, i.e. Avalon Technology and Services Private Limited (ATSPL);
- Funding the working capital requirements of the Company;
- General corporate purposes.
Strengths
- End-to-end capabilities
- Global delivery model
- High-value precision engineering
Weaknesses
- Intense competition
- Dependence on OEM customers
- Exposure to supply chain risks
Avalon Technologies IPO Prospectus
- › Avalon Technologies IPO DRHP
- › Avalon Technologies IPO RHP
- › Anchor Investors in Avalon Technologies IPO
Company Contact Information
Avalon Technologies Limited
B – 7, First Main Road,
MEPZ, Tambaram,
Chennai – 600 045
Phone: +9144 42220 400
Email: investorsrelations@avalontec.com
Website: http://www.avalontec.com/
Avalon Technologies IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: avalontec.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Avalon Technologies IPO Lead Manager(s)
- JM Financial Limited (Past IPO Performance)
- DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) (Past IPO Performance)
- IIFL Securities Ltd (Past IPO Performance)
- Nomura Financial Advisory And Securities (India) Pvt Ltd (Past IPO Performance)
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