Avi Ansh Textile IPO GMP Today; Check Day 3 Subscription Status

The initial public offering of Avi Ansh Textile Ltd. opened for subscription on September 20 and will close on September 24. The offering is entirely a fresh issue of 41.94 lakh shares to raise Rs 26 crore from the market. Investors can submit their bids for the IPO till September 24. The SME IPO was subscribed 1.16 times on Friday (Day 1) and 4.08 times on Monday.

The offering is a fixed price issue, offering shares at Rs 62 apiece. Retail investors can participate in the IPO with a minimum lot size of 2,000 shares, requiring an investment of Rs 1,24,000 for one lot.

The IPO has been subscribed 7.66 times as of 3:12 p.m. on Tuesday

• Non-institutional buyers: 4.82 times

• Retail investors: 10.50 times

The subscription status will be updated at regular intervals.

The grey market premium (GMP) of Avi Ansh Textile Limited IPO is Rs 2 as of 12:55 p.m. on September 23, implying a 3.23% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 64 per share.

GMP is not an official price quote for the stock and is based on speculation. 

Also Read: How To Increase Chances Of IPO Allotment?

The share allotment status for Avi Ansh Textile IPO is expected to be finalised on September 25. This will be followed by the initiation of refunds for the non-allottees and credit of shares to demat accounts of successful bidders on September 26. Shares of Avi Ansh Textile Ltd. are set to list on NSE SME platform, Emerge, with a tentative listing date of September 27.  For high net-worth individuals, the minimum lot size in Avi Ansh Textile IPO is 2 lots or 4,000, totalling an investment of Rs 2,48,000.

The company has appointed Skyline Financial Services Pvt. as the registrar for the issue whereas 3Dimension Capital Services Ltd. is the book-running lead manager of Avi Ansh Textile IPO. 

Nikunj Stock Brokers Ltd. is the market maker of the offering.

Avi Ansh Textile, established in April 2005, is a manufacturer and exporter of cotton yarn. The company has a production capacity of 4,500 metric tonnes. The company caters to both domestic and international markets. Apart from cotton yarns, the company also produces various fabric types such as single jersey, rib knit and interlock fabric.

Avi Ansh Textile Ltd. plans to use the net proceeds from the IPO to support its capital requirement. Further, a portion of the money raised through the offer will be used for debt reduction and covering issue-related expenses. 

For the financial year ending March 31, 2024, Avi Ansh Textile Ltd. recorded consolidated revenue from operations of Rs 142.14 crore as against Rs 121.49 crore in the previous fiscal. The company's net profit in fiscal 2024 was Rs 3.31 crore, up from  Rs 28.74 lakh in fiscal 2023.