Electronic manufacturing services firm Avalon Technologies has filed primary papers with capital requests controller SEBI to raise Rs 1,025 crore through an original public immolation (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 400 crore and an Offer- for- trade (OFS) adding up to Rs 625 crore by promoters and being shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday.
The company may consider raising Rs 80 crore through a pre-IPO placement and if such a placement is accepted the size of the fresh issue will be reduced. Proceeds from the fresh issue would be used towards debt payment, funding the working capital conditions and general commercial purposes.
Incorporated in 1999, Avalon is an end- to- end electronic manufacturing service results provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt( Securaplane Technologies Inc) and Systech Corporation as some of its crucial guests.
It has 12 manufacturing units located across the United States and India. As of financial 2022, its profit from operations was at Rs 840 crore with an order book worth Rs 1,039 crore as of June 30, 2022. JM Financial NSE 2.43%, DAM Capital counsels, IIFL Securities NSE0.44% and Nomura Financial Advisory and Securities (India) Private Limited are the trafficker bankers for this IPO.
About Avalon Technologies
Our Focus…Dedication to our clients, Respect for our partners.
Continuous product and service innovation. With an expert staff and hundreds of successful deployments, Avalon’s focus is helping clients solve their unique IT business challenges with a refreshing, customer-friendly approach to projects of all sizes. Our team of professionals have years of experience in IT departments and understand real-world data center complexities. We are dedicated to knowing your business and anticipating your needs.
We accomplish this by:
- Maintaining the highest-level certification with our partners
- Nurturing positive pre- and post-sale client relationships
- Aggressively procuring hardware below market cost
- Training your company to identify best practices and maximize data center investment
In 2002, Avalon was founded on a simple premise – IT professionals who have worked on both the data center and consulting side are better equipped to understand different IT environments and the optimal product configurations that work best in each. We are collaborators, authentic, approachable and highly responsive. Avalon is a proud Dell Platinum Partner. As a Dell Partner, Avalon has an inside track on the latest hardware, software and services that help eliminate IT complexity for customers while gaining greater efficiencies in performance and cost. It really can be that simple.