Avi Ansh Textile IPO fully subscribed on first day: Check price band, offer size and other details

Avi Ansh Textile Limited IPO opened to a strong demand on the first day of bidding on September 20, as the public offer was fully subscribed, driven by non-retail investors. The NSE SME issue was booked 1.13 times.

The initial public offering (IPO) of the manufacturer and exporter of cotton yarn received bids for more than 45.18 lakh shares compared to 39.81 lakh shares on offer.

The Non-Institutional Investors (NIIs) submitted applications for more than 28.5 lakh shares exceeding the 19.91 lakh shares allocated for the category, resulting in a subscription of 1.43 times.

The retail portion of the IPO was booked 83% with applications for 16.68 lakh shares against 19.89 lakh shares set aside for the segment.

Avi Ansh Textile IPO dates

The subscription window for Avi Ansh Textile IPO is open from September 20 to September 24. The IPO share allotment status is expected to be finalised on September 25.

Shares will be credited into the Demat accounts of successful bidders on September 26 and refunds for non-allottees will also be processed the same day.

Shares of the company are likely to be listed on the NSE SME platform on Friday, September 27.

Avi Ansh Textile IPO offer size, price band and minimum investment

The ₹25.99-crore fixed price public offer comprises an entirely fresh issue of 41.92 lakh shares.

The price for Avi Ansh Textile IPO has been set at ₹62 per share. The minimum lot size for retail investors is 2,000 shares, amounting to an investment of ₹1,24,000 and for High Networth Individuals (HNIs) the minimum investment is 2 lots (4,000 shares), aggregating to an investment of ₹2,48,000.

Avi Ansh Textile IPO registrar

The registrar for the company's IPO is Skyline Financial Services Private Limited and 3Dimension Capital Services Limited is the book-running lead manager for the issue.

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

Avi Ansh Textile IPO objective

The company plans to use the net proceeds from the offering 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

Avi Ansh Textile Limited, founded in April 2005, manufactures and exports 100% cotton yarn, including combed and carded varieties in various counts.

The company operates in both domestic and international markets and Avi Ansh Textile produces approximately 4,500 metric tons of cotton yarn annually from its spinning factories which have a total capacity of 26,000 spindles covering counts from 20s to 40s.