The listing price of Avalon Technologies IPO will be around Rs 446 per equity share. Because the shares of the company are available in the gray market today at a premium of Rs.10.
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The date of Avalon Technologies IPO listing has been fixed as 18 April 2023 i.e. today. According to the official website of BSE, the equity shares of Avalon Technologies Limited will be listed on the Indian exchanges (BSE and NSE) in the ‘B’ list of securities. Avalon Technologies IPO The listing price will be approximately Rs.446 per equity share. Because the shares of the company are available in the gray market today at a premium of Rs.10.
According to market experts, the public issue of Rs 865 crore received low response from all categories of investors as the issue price was very high. High valuations may fail to fetch high premium for allottees as Avalon Technologies shares may have a flat opening on Dalal Street today.
Speaking on the Avalon Technologies IPO listing, Abhay Doshi, Founder of Unlisted Arena.com, says that the Avalon Technologies IPO received a lukewarm response across categories. While the company has reported attractive margins compared to its peers, market sentiments remain volatile, which could lead to a flat listing for Avalon Technologies. The IPO is likely to be listed around its exit price.
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likely to decline after listing
Expecting further fall in Avalon Technologies share price after flat listing AR Ramachandran, co-founder and trainer, Tips2Trades said that even though the fundamentals of Avalon Technologies Ltd. are very good in terms of profitability and return ratios, the current has a PE ratio above 50. After the listing, there is a possibility of further decline in the shares of Avalon Technologies.
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What does the Avalon Technologies GMP indicate
As per market experts, Avalon Technologies IPO GMP (grey market premium) is Rs 10 today, which means gray market is also expecting flat listing of Avalon Technologies shares. Non-listed stock market experts said Avalon Technologies IPO GMP today is Rs 10, which means gray market is expecting Avalon Technologies IPO listing price to be around Rs 446 (Rs 436 + Rs 10), which is around 2 percent is more. The price band of Avalon Technologies IPO is Rs 415 to Rs 436 per equity share.
The company making this plan
Avalon Technologies Management has already announced for repayment of all or a part of the outstanding borrowings of its subsidiaries Avalon Technologies & Services. In addition, the company plans to utilize the fresh capital proceeds for working capital requirements and general corporate purposes.
Source: www.tv9hindi.com”