Avalon Technologies' IPO gets 3% subscription on Day 1

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Key Points

' initial share sale got subscribed 3 per cent on the first day of offer on Monday.. The Initial Public Offering (. ) received bids for 3.68 lakh equity shares against 1.14 crore shares on offer, according to the data available with the National Stock Exchange (NSE)...

The portion for retail individual investors (RIIs) received 16 per cent subscription while the quota for non-institutional investors (NIIs) was subscribed a mere 1 per cent...

However, no bids were made by Qualified Institutional Buyers (QIBs) for the IPO...

The IPO comprises a fresh issue of aggregating Rs 320 crore and an offer for sale of up to Rs 545 crore by promoters and existing shareholders...

JM Financial, DAM Capital Advisors, IIFL Securities and Nomura Financial Advisory and Securities (India) Pvt Ltd are the merchant bankers for the IPO...

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