Avi Ansh Textile makes decent debut, shares list at nearly 10% premium on NSE SME

Shares of Avi Ansh Textile Limited made a decent debut on the NSE SME platform, Emerge on Friday, September 27, with its shares listing at a nearly 10% premium to issue price.

Avi Ansh Textile shares opened at ₹68 apiece, up 9.67% compared to its initial public offering (IPO) price of ₹62, on the NSE SME platform. After listing, the stock declined 5% and was locked at the lower circuit limit of ₹64.6 apiece.

Soon after the stock began to trade, 15.12 lakh shares of the company changed hands on the NSE. The total traded value stood at ₹10.14 crore. The company's market capitalisation stood at ₹90.29 crore.

The minimum bidding quantity for Avi Ansh Textile IPO was 2,000 shares, successful bidders who were allotted shares in the primary issue would have made a profit of at least ₹12,000 (₹6 x 2,000) as soon as the stock started trading on the exchange.

Avi Ansh Textile IPO details

Avi Ansh Textile aimed to raise ₹25.99 crore through its initial public offering (IPO). The fixed price offer consisted of an entirely fresh issue of 41.92 lakh shares. Avi Ansh Textile IPO price was fixed at ₹62 per share.

Avi Ansh Textile IPO was open for subscription from September 20 to September 24.

The NSE SME issue saw decent subscription in its three-day bidding period as the initial public offer was booked 8.49 times across categories. The IPO was booked 5.37 times in the Non-institutional investors (NIIs) category while the retail portion was booked 11.61 times.

The company plans to use the proceeds of the public issue to meet working capital requirements and for term loan repayment. The proceeds will also be used for general corporate purposes.

Incorporated in April 2005, Avi Ansh Textile manufactures and exports 100% cotton yarn. Avi Ansh Textile operates in both Indian and international markets. It primarily supplies a variety of yarns and fabrics to its customers. The company runs its spinning factories with a total capacity of 26,000 spindles. The company had 281 employees as of September 2024.