Avi Ansh Textile IPO booked over 8 times on day 3; check allotment and listing date

Avi Ansh Textile IPO saw strong demand on the last day of bidding, September 24. The public offer closed with a subscription of more than 8 times, driven by retail investors.

The NSE SME issue was overall subscribed 8.36 times, receiving bids for over 3.33 crore shares compared to the 39.81 lakh shares available for bidding.

The Non-Institutional Investors (NIIs) applied for more than 1.06 crore shares, surpassing the 19.91 lakh shares allocated for their category. The NIIs booked their quota 5.35 times.

The retail segment was subscribed 11.38 times, with applications for 2.26 crore shares against the 19.89 lakh shares reserved for the segment.

Avi Ansh Textile IPO offer size and price band

Avi Ansh Textile IPO was worth ₹25.99 crore. The fixed-price issue comprised an entirely new issue of 41.92 lakh shares. Avi Ansh Textile IPO share price was set at ₹62 apiece.

The minimum bidding size for retail investors was a single lot of 2,000 shares, amounting to an investment of ₹1,24,000. For high net-worth individuals (HNIs) the minimum application size was 2 lots (4,000 shares), aggregating to ₹2,48,000.

Avi Ansh Textile IPO allotment status and listing date

The subscription period for the Avi Ansh Textile IPO opened on September 20 and closed on September 24.

After a successful subscription, the IPO allotment status is expected to be finalised on September 25. Refunds for unsuccessful bidders will be processed on Thursday, September 26, while successful bidders will receive shares in their Demat accounts the same day.

Shares of Avi Ansh Textile are expected to be listed on the NSE SME platform on Friday, September 27.

Avi Ansh Textile IPO registrar

Skyline Financial Services Private Limited is the registrar for the Avi Ansh Textile IPO, while 3Dimension Capital Services Limited is the book-running lead manager for the offering.

The market maker for the Avi Ansh Textile IPO was Nikunj Stock Broker Limited.

Avi Ansh Textile IPO objective

The company plans to use the net proceeds from the IPO to meet working capital requirements. A portion of the funds will also be utilised for term loan repayment and general corporate purposes.

About Avi Ansh Textile

Founded in April 2005, Avi Ansh Textile Limited specialises in the manufacturing and exporting of 100% cotton yarn. The company’s products include both combed and carded varieties of cotton yarn across different counts.

The company serves both domestic and international markets. It produces around 4,500 metric tons of cotton yarn each year from its spinning factories, which have a combined capacity of 26,000 spindles and cover counts ranging from 20s to 40s.