Schedule of Avi Ansh Textile
| Issue open date | 20 Sep 2024 |
| Issue close date | 24 Sep 2024 |
| UPI mandate deadline | 24 Sep 2024 (5 PM) |
| Allotment finalization | 25 Sep 2024 |
| Refund initiation | 26 Sep 2024 |
| Share credit | 26 Sep 2024 |
| Listing date | 27 Sep 2024 |
| Mandate end date | 09 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 25 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 24 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Avi Ansh Textile
Avi Ansh Textile Limited, incorporated in April 2005, is engaged in the manufacturing and export of 100% cotton yarn, including combed and carded varieties in various counts. The company holds ISO 14001:2015 and ISO 9001:2015 certifications. It operates spinning factories with a capacity of 26,000 spindles, producing approximately 4,500 metric tons of cotton yarn annually, along with various fabric types such as Single Jersey, Rib Knit, and Interlock Fabric.
Financials of Avi Ansh Textile
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹26.00 crores |
| Fresh Issue | ₹26.00 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 20.12 (77.39%) |
| Debt reduction | 3.95 (15.17%) |
| Issue related expenses | 1.37 (5.27%) |
| General corporate purposes | 0.56 (2.16%) |
Strengths
- The manufacturing plant is located in Derabassi, Punjab, offering good connectivity and access to skilled and unskilled labour at competitive costs.
- The company holds ISO 9001:2015 and 14001:2015 certifications for quality management and environmental compliance.
- The company manufactures a range of yarns and fabrics with attention to maintaining consistent quality.
Risks
- High working capital needs could negatively impact the company’s operations and financial results if not met.
- The company’s reliance on a single production facility in Punjab exposes it to risks from potential disruptions.
- Dependence on third-party transportation providers poses supply chain risks and potential delays.
- Delays or defaults in customer payments could strain the company’s financial health and cash flow.