New Delhi, 12 January (H.S.): Avana Electrosystems, a manufacturer of electrical equipment, launched its ₹35.22 crore initial public offering (IPO) for public subscription on Monday. Bidding remains open until January 14, followed by share allotment on January 15 and crediting of allotted shares to demat accounts on January 16, with listing anticipated on the NSE SME platform on January 19.
The IPO features a price band of ₹56 to ₹59 per share, with a lot size of 2,000 shares. Retail investors must bid for a minimum of two lots, or 4,000 shares, requiring an investment of ₹2,36,000 at the upper price band. The issue comprises 59,70,000 equity shares of ₹10 face value, including 48,76,000 fresh shares worth ₹29 crore and 7,94,000 shares offered for sale valued at ₹5 crore.
On January 9, a trading day before the IPO opened, Avana Electrosystems raised ₹9.97 crore from five anchor investors. Fortune Hands Growth Fund emerged as the largest, subscribing to 5,86,000 shares, alongside Fortune Collective Fund, Arth AIF Growth Fund, NAV Capital Emerging Star Fund, and Shrem Investments Private Limited.
Qualified Institutional Buyers (QIBs) receive 47.20% reservation, retail investors 33.30%, Non-Institutional Investors (NIIs) 14.47%, and market makers 5.03%, with Indcap Advisors Private Limited as book-running lead manager, Integrated Registry Management Services Private Limited as registrar, and Asani Stock Broker Private Limited as market maker.
The company's financials, as disclosed in the Draft Red Herring Prospectus (DRHP) filed with SEBI, demonstrate consistent strengthening. Net profit rose from ₹92 lakh in FY 2022-23 to ₹4.02 crore in FY 2023-24 and surged to ₹8.31 crore in FY 2024-25, reaching ₹5.61 crore in the first half of FY 2025-26 (April-September 2025).
Total revenue grew from ₹28.59 crore in FY 2022-23 to ₹53.26 crore in FY 2023-24 and ₹62.93 crore in FY 2024-25, with ₹36.28 crore recorded in the April-September 2025 period. Debt levels fluctuated, standing at ₹7.33 crore at the end of FY 2022-23, rising to ₹9.27 crore in FY 2023-24, then declining to ₹5.69 crore in FY 2024-25 and ₹5.68 crore by September 2025.
Reserves and surplus expanded from ₹8.67 crore in FY 2022-23 to ₹12.69 crore in FY 2023-24 and ₹21.01 crore in FY 2024-25, though reported at ₹9.95 crore for April-September 2025. EBITDA climbed from ₹1.92 crore in FY 2022-23 to ₹7.42 crore in FY 2023-24, ₹12.52 crore in FY 2024-25, and ₹7.63 crore in the first half of FY 2025-26.
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Hindusthan Samachar / Jun Sarkar
