There is good news for those investing in the stock market through IPO. The IPO of electronic manufacturing services firm Avalon Technologies is opening next week. Investors will be able to subscribe to this IPO from 3 April 2023. The IPO of Avalon Technologies will be open for investors till 6 April 2023. Let us tell you, the company’s IPO will open for anchor investors on March 31, 2023.
What is the company’s position in the gray market?
As per media reports, tracking the gray market, Avalon Technologies is performing well. The company is trading at a premium of Rs 22 in the gray market. Avalon Technologies may be listed on BSE and NSE on 18th April.
Avalon Technologies is looking to raise Rs 865 crore through this IPO. The company plans to collect Rs 329 crore through fresh issue and Rs 545 crore through off sale. The company will use the money raised through the IPO to repay debt, working capital and corporate purposes.