Avax Apparels IPO subscription started on Monday, January 7, 2025, and will close on January 9, 2025, as per the schedule. The price band is set at ₹70 per share with a face value of ₹10.
Avax Apparels IPO Subscription Status
Avax Apparels IPO Subscribed over 27.92x on its First day till 05.00 PM on 7th January 2025.
- Avax Apparels IPO subscription QIB investors portion is 0.00x times, while NII subscribed 6.29x times and RII investors subscribed 49.55x times.
- The company has received bids for 72,60,000 shares against 2,60,001 shares on offer on the First day.
- Avax Apparels IPO Subscribed over 27.92x on day 1.
About Avax Apparels IPO
After establishing in 2005, Avax Apparels started a business in two different areas such as; wholesale trading and online retail of silver ornaments. Additionally, it sells large quantities of knitted fabric to other companies and jewelry products such as anklets, bracelets a bangles, bowls, and chains through its website. The company has key advantages in wholesale trading. Its location in a major cloth manufacturing area gives it an edge. Moreover, they have good strategies regarding their business such as expanded business relationships, available resources, improved operating efficiency, and building up a professional organization. Financially, the revenue portion is increased by 50% (2,205 lakhs) in 2024 respectively. Mr. Harinderpal Singh Sodhi is the Managing Director and Mr. Harish Kumar is the main member of the leading company. Notably, this company’s majority of work has been completed by skilled women.
Avax Apparels IPO Company Financial Report
The company reported revenue of ₹22.06 crore in 2024 against ₹14.70 crore in 2023. The company reported a profit of ₹1.38 crores in 2024 against a Profit of ₹0.69 crores in 2023.
Avax Apparels IPO GMP:
Avax Apparels IPO GMP was ₹20 as of Tuesday, 7th January. That indicates the IPO is trading at ₹90 with ₹20 premium in the grey market against the issue price of ₹70.
