Avax Apparels IPO Overview
The Avax Apparels IPO is set to open for subscription on January 7, 2025, and close on January 9, 2025. This IPO is a Fixed Price Issue, aiming to raise ₹1.92 crores, consisting entirely of a fresh issue. Shares will have a face value of ₹10 each, with the IPO price set at ₹70 per share. Avax Apparels plans to list on the BSE SME platform on January 14, 2025. The allotment date for the IPO is January 10, 2025.
The IPO has allocated 50% for retail investors and the remaining 50% for non-institutional investors (HNIs). There is no allocation for qualified institutional buyers (QIBs).
Avax Apparels IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | January 7, 2025 |
| IPO Close Date | January 9, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹70 per share |
| Issue Size | ₹1.92 crores |
| Fresh Issue | ₹1.92 crores |
| Offer for Sale (OFS) | – |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| Retail Quota | 50% |
| QIB Quota | 0% |
| NII Quota | 50% |
Avax Apparels IPO Market Lot
The minimum market lot for the Avax Apparels IPO is 2,000 shares, amounting to an application value of ₹1,40,000.
| Application Type | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 2,000 | ₹1,40,000 |
| Retail Maximum | 1 | 2,000 | ₹1,40,000 |
| S-HNI Minimum | 2 | 4,000 | ₹2,80,000 |
Avax Apparels IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | January 7, 2025 |
| IPO Close Date | January 9, 2025 |
| Basis of Allotment | January 10, 2025 |
| Refunds Initiated | January 13, 2025 |
| Credit to Demat Accounts | January 13, 2025 |
| IPO Listing Date | January 14, 2025 |
Promoters of Avax Apparels IPO
The primary promoters of the company are Harinderpal Singh Sodhi and Harish Kumar.
About Avax Apparels
Established in 2005, Avax Apparels operates in two primary business areas: wholesale trading and online retail of silver ornaments. The company specializes in supplying large quantities of knitted fabric and silver jewelry such as anklets, bracelets, bangles, bowls, and chains through its online platform.
Located in a major textile manufacturing hub, Avax Apparels leverages strategic advantages such as expanded business relationships, improved operational efficiencies, and access to skilled labor, predominantly women.
The company’s financial performance has been commendable, with a 50% revenue increase in FY2024, showcasing growth and stability for long-term investors.
Avax Apparels Financial Performance
| Period Ended | Revenue (₹ Cr.) | Expenses (₹ Cr.) | Profit After Tax (₹ Cr.) | Assets (₹ Cr.) |
|---|---|---|---|---|
| 2022 | 0.29 | 0.28 | 0.01 | 0.58 |
| 2023 | 14.70 | 13.76 | 0.69 | 3.47 |
| 2024 | 22.06 | 20.12 | 1.38 | 4.85 |
| Sept 2024 | 15.01 | 13.75 | 0.91 | 10.89 |
Avax Apparels IPO Valuation Metrics
| KPI | Value |
|---|---|
| ROE | 43.91% |
| ROCE | 61.68% |
| EBITDA Margin | 9.52% |
| PAT Margin | 6.26% |
| Debt-to-Equity Ratio | 0.23 |
| Earnings Per Share | ₹18.06 |
| P/E Ratio | 2.96 |
| Return on Net Worth | 43.91% |
| Net Asset Value | ₹41.13 |
Peer Comparison
| Company | EPS | P/E Ratio | RoNW (%) | NAV (₹) | Revenue (₹ Cr.) |
|---|---|---|---|---|---|
| Anand Rayons Ltd. | 2.09 | 21.60 | 8.37% | 25.3 | 1.59 |
| Aarnav Fashions Ltd. | 1.33 | 41.30 | 4.3% | 43.3 | 3.93 |
Objects of the Issue
- To meet working capital requirements.
- To cover general corporate purposes.
Company Address
Avax Apparels And Ornaments Limited
611, 6th Floor, Jaina Tower II, Distt. Centre, Janakpuri, West Delhi, Delhi – 110058
Phone: +011-44750642 / +91-9599497767
Email: secretarial@avaxapparels.com
Website: www.avaxapparels.com
Avax Apparels IPO Summary
The Avax Apparels IPO is scheduled to open on January 7, 2025, and close on January 9, 2025. This Fixed Price Issue aims to raise ₹1.92 crores through a fresh issue of shares priced at ₹70 each. The IPO is set to list on the BSE SME platform on January 14, 2025, with allotment finalization on January 10, 2025.
The IPO allocation is divided into 50% for retail investors and 50% for non-institutional investors (HNIs), with no portion reserved for qualified institutional buyers (QIBs). The minimum application size is 2,000 shares, amounting to ₹1,40,000.
Key Financials
- Revenue for FY2024: ₹22.06 crores (50% growth from FY2023’s ₹14.70 crores)
- Profit After Tax (PAT) for FY2024: ₹1.38 crores (compared to ₹0.69 crores in FY2023)
Valuation Metrics
- Return on Equity (ROE): 43.91%
- Debt-to-Equity Ratio: 0.23
- Earnings Per Share (EPS): ₹18.06
- Price-to-Earnings (P/E) Ratio: 2.96
Business Overview
Avax Apparels, established in 2005, operates in wholesale trading and online retail of silver ornaments. Its strategic location in a textile manufacturing hub and focus on operational efficiency have supported significant growth. The company emphasizes its reliance on skilled women workers for its operations.
Important Dates
- Open Date: January 7, 2025
- Close Date: January 9, 2025
- Allotment Date: January 10, 2025
- Listing Date: January 14, 2025
Objects of the Issue
- To meet working capital needs.
- To fund general corporate purposes.
Investors considering this IPO are advised to view it as a long-term investment opportunity due to the company’s robust growth trajectory and strong financial performance.
FAQs on Avax Apparels IPO
1. What is Avax Apparels IPO?
Avax Apparels IPO is an SME IPO raising ₹1.92 crores at a fixed price of ₹70 per equity share, listing on the BSE SME platform.
2. When does the IPO open and close?
The IPO opens on January 7, 2025, and closes on January 9, 2025.
3. How can I apply for this IPO?
Investors can apply via ASBA through their bank accounts or UPI-enabled stock brokers.
4. What is the lot size for Avax Apparels IPO?
The minimum lot size is 2,000 shares, amounting to ₹1,40,000.
5. When will the shares be listed?
The shares are scheduled to be listed on January 14, 2025, on the BSE SME platform.