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Avax Apparels and Ornaments IPO
Avax Apparels and Ornaments Ltd
₹1,40,000 /2000 sharesMinimum Investment
Avax Apparels and Ornaments IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹70.00 | ₹133.00 | ₹63.00 (90.00%) |
Avax Apparels and Ornaments IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 Jan ‘25 - 9 Jan ‘25 | ₹1,40,000 | 2,000 | ₹70 - ₹70 |
| Issue Size | IPO Doc |
|---|---|
| 1.92Cr | RHP PDF |
Subscription rate
As of 09 Jan'25, 05:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 140.48x |
| Retail Individual Investor | 368.98x |
| Total | 245.53x |
About Avax Apparels and Ornaments
Founded in
2005
Managing director
Mr. Harinderpal Singh Sodhi
Parent organisation
Avax Apparels and Ornaments Ltd
Strengths & Financials of Avax Apparels and Ornaments
Strengths
Risks
The company has recently invested in machinery to begin manufacturing knitted cloth.
The company has an in-house design team that creates custom designs tailored to customer preferences.
The company claims to have a dedicated quality assurance team that carefully inspects each piece to ensure it meets the company’s strict quality standards.
The company’s plant is equipped with high-speed knitting machines (GSJZ 360, 10G), an air compressor, a 15 KWA generator with a soundproof canopy, single and double needle lock stitching machines, and many other essential machines.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 0.29 crore in FY22 to Rs 14.70 crore in FY23 to Rs 22.06 crore in FY24, while PAT increased from Rs 0.01 crore in FY22 to Rs 0.69 crore in FY23 to Rs 1.38 crore in FY24.
The current promoters of the company are not the original founders of the company. Since the business was acquired from previous owners, there could be unforeseen legacy issues that may arise later related to the company’s past.
The top 10 customers of the company accounted for Rs 19.23 crore (87.17%) in FY24, Rs 9.84 crore (66.95%) in FY23, and Rs 0.26 crore (85.69%) in FY22. Any loss of these customers, a reduction in business from them, or any inability to retain these customers can negatively impact the company’s operations and finances.
Avax Apparels and Ornaments has no long-term agreements with most of its suppliers and customers. Therefore, Avax Apparels and Ornaments cannot assure or determine whether the company will get any repeat business from them.
The company depends on third-party manufacturers for its entire product range. Any adverse developments vis-à-vis these manufacturers can adversely affect the company's functioning.
The company's operations are concentrated in Northern India, specifically in Punjab. Any economic downturns or adverse changes in the business environment of this specific region can disrupt the company’s business operations.
As of March 31, 2024, the company had outstanding loans worth Rs 0.71 crore. Any inability to service or repay these loans can be detrimental to the company’s financial standing.
Avax Apparels and Ornaments Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Avax Apparels and Ornaments IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹70 - 70 | ₹2 - 5 Lakh |
| High Networth Individual | ₹70 - 70 | ₹2 - 5 Lakh |
For Avax Apparels and Ornaments IPO, eligible investors can apply as Regular.