Key Points
After a lower-than-expected demand for the IPO, Avalon Technologies shares got listed at a mild discount of 1% to the issue price on Tuesday..
The IPO, which comprised fresh issue of shares up to Rs 324 crore and an offer for sale (OFS) of up to Rs 545 crore, was fully priced-in at a P/E ratio of around 39x...
"Fully priced-in valuations and larger portion of funds raised going to promoters via OFS followed by lower promoter holding post the issue seems concerning to new IPO investors," said Prashanth Tapse, Senior VP (Research), Mehta Equities...
Hence, we advise conservative investors to avoid holding and watch out for better companies and opportunities, while risk takers can hold based on their risk appetite," Tapse said.. Avalon Technologies is one of the leading fully-integrated electronic manufacturing services (EMS) companies with end-to-end operations in delivering box-build solutions in India..
"Investors with a high-risk tolerance may consider holding Avalon Technologies shares for long-term, with a recommended stop loss of around 405, which is the lower price band of the issue," said Pravesh Gour...
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