Avax Apparels And Ornaments IPO Closed
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Schedule of Avax Apparels And Ornaments
| Issue open date | 07 Jan 2025 |
| Issue close date | 09 Jan 2025 |
| UPI mandate deadline | 09 Jan 2025 (5 PM) |
| Allotment finalization | 10 Jan 2025 |
| Refund initiation | 13 Jan 2025 |
| Share credit | 13 Jan 2025 |
| Listing date | 14 Jan 2025 |
| Mandate end date | 24 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 09 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 10 Apr 2025 |
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 Avax Apparels And Ornaments
Avax Apparels And Ornaments Limited, incorporated in June 2005, is engaged in wholesale trading of knitted fabric and online retail of silver ornaments. The company supplies knitted fabric to readymade garment manufacturers and has recently invested in machinery to begin manufacturing its own knitted cloth. It also offers a range of silver jewellery, including rings, payals, kadas, bangles, and other items, with distribution across major cities in India.
Financials of Avax Apparels And Ornaments
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹1.92 crores |
| Fresh Issue | ₹1.92 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 1.51 (78.20%) |
| Issue related expenses | 0.21 (11.36%) |
| General corporate purposes | 0.20 (10.44%) |
Strengths
- Strong network with key sector players for strategic gains.
- Strategic location for efficient operations and cost savings.
- Excellent customer relations ensuring satisfaction and repeat business.
Risks
- Possible shift to focus only on the textile business, reducing reliance on silver ornaments.
- Seasonal demand fluctuations may impact revenue for silver ornaments and knitted fabric.
- Economic downturns could lower discretionary spending on silver ornaments.
- Vendor issues, counterfeits, or negative publicity may harm the brand.
- Lack of long-term contracts adds uncertainty to repeat business.
Allotment Status for Avax Apparels And Ornaments
To check your allotment status – click here.