IPO: Do you always look for initial public offerings (IPO) then you will have the opportunity to subscribe to the IPO of Avalon Technologies Limited in the stock market from tomorrow ( April 3).
Avalon Technologies Limited has brought an IPO that will remain open for retail investors till 6 April. The IPO of Avalon Technologies Limited has received a good response from anchor investors. Now it has to be seen how much enthusiasm the retail investors show for this offering. the promoters of the company have fixed the price band from Rs 415 to Rs 436 for IPO.
Avalon Technologies Limited has raised Rs 389.25 crore through anchor investors. The company has allotted 89.27 lakh shares to 24 fund companies at Rs 436 per share.
Avalon Technologies Limited’s IPO is trading at a premium of Rs 12 on the morning of April 2, as per a report by a top stockbroker. A few days back it was above Rs 20. This means that the situation in the grey market is worse than before. However, the good news is that the company is still trading positively in the grey market.
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Important information
1- Allotment of shares can be done on April 12.
2- The lot size for the company IPO has been fixed at 34 shares.
3- A retail investor will have to invest at least Rs 14,824.
4- The listing of the company can be done in BSE and NSE on 18th April.
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