Avax Apparels And Ornaments IPO - Day 3 Subscription at 113.28 Times

Avax Apparels And Ornaments' initial public offering (IPO) has received exceptional investor interest over the three-day period. The IPO witnessed remarkable growth in demand, with subscription rates progressing from 27.92 times on day one, to 78.86 times on day two, and reaching an impressive 113.28 times by 11:14:11 AM on the final day.
 

Avax Apparels And Ornaments IPO opened on 7th January 2025 and has seen outstanding participation across categories. The Retail Investors segment has shown exceptional interest, reaching 195.58 times subscription, while Non-Institutional Investors achieved remarkable subscription at 30.95 times.

This robust response comes amid positive sentiment in the Indian stock market, particularly towards companies in the textile and ornaments sector. Being listed on BSE SME platform, the issue has attracted significant attention from retail investors.
 

Subscription Status of Avax Apparels And Ornaments IPO:

*As of 11:14:11 AM

Here are the subscription details for Avax Apparels And Ornaments IPO as of Day 3 (9th January 2025, 11:14:11 AM):

Note:
 

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
The portions of anchor investors and market maker are not included in the total shares offered.

Key Highlights Avax Apparels IPO - Day 3 Subscription

• Overall subscription reached exceptional 113.28 times on the final day
• Retail investors showing overwhelming response at 195.58 times subscription
• Non-Institutional Investors achieved remarkable 30.95 times subscription
• Total bids worth ₹206.18 crores received
• Applications reached 16,459 showing strong retail interest
• Market response indicating robust demand
• Final day demonstrating tremendous investor confidence
• All categories showing significant oversubscription

Avax Apparels IPO - Day 2 Subscription at 78.86 Times

Key Highlights

• Overall subscription grew significantly to 78.86 times
• Retail investors showed strong growth to 139.45 times
• Non-institutional investors progressed to 18.28 times
• Day two witnessed accelerated momentum
• Market response indicating growing confidence
• Subscription trend showing strong momentum
• All segments demonstrated substantial growth
• Strong retail participation continued

Avax Apparels IPO - Day 1 Subscription at 27.92 Times

Key Highlights:

• Overall subscription opened strong at 27.92 times
• Retail investors began remarkably at 49.55 times
• Non-institutional investors showed good interest at 6.29 times
• Opening day demonstrated exceptional response
• Market confidence evident in retail segment
• Initial momentum indicating strong interest
• Day one subscription exceeded expectations
• Strong retail demand visible from start

About Avax Apparels And Ornaments Limited

Incorporated in June 2005, Avax Apparels And Ornaments Limited operates in two distinct business segments: wholesale trading of knitted fabric and online retail of silver ornaments. The company has established itself in major cities across India, offering a diverse range of products including silver jewelry such as rings, ladies' payal, gents kada, plate sets, glass, bangles, bowls, and chains.

The company's strategic location in a major cloth manufacturing hub provides significant competitive advantages. Their business model is strengthened by strong management relationships and excellent customer service. The company maintains a lean operation with 7 full-term employees as of September 2024.

Their financial performance demonstrates strong growth, with revenue of ₹15.00 crores and profit after tax of ₹0.91 crores for the period ended September 30, 2024. The half-yearly results show promising growth trends in both top line and bottom line performance.
 

Highlights of the Avax Apparels And Ornaments IPO:

• IPO type: Fixed Price Issue SME IPO
• IPO size: ₹1.92 crores
• Fresh Issue: 2.74 lakh shares
• Face value: ₹10 per share
• Issue price: ₹70 per share
• Lot size: 2,000 shares
• Minimum investment for retail investors: ₹1,40,000
• Minimum investment for HNI: ₹2,80,000 (2 lots)
• Market maker reservation: 14,000 shares
• Listing at: BSE SME
• IPO opens: 7th January 2025
• IPO closes: 9th January 2025
• Allotment date: 10th January 2025
• Refund initiation: 13th January 2025
• Credit of shares: 13th January 2025
• Listing date: 14th January 2025
• Lead Manager: SKI Capital Services Limited
• Registrar: Skyline Financial Services Private Ltd
• Market Maker: SKI Capital Services Limited