Avax Apparels and Ornaments shares debut with 90% premium on BSE SME

Avax Apparels and Ornaments made a remarkable debut on the BSE SME platform on January 14, listing at ₹133 per share, a stunning 90% premium over its issue price of ₹70. The strong debut highlights the overwhelming investor interest in the IPO.

Key IPO Highlights:

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  • Issue Price: ₹70 per share
  • Listing Price: ₹133 per share
  • Premium: 90%
  • Shares Offered: 2.74 lakh
  • Total Subscriptions: Over 250 times, with bids for more than 6 crore shares

Business Overview:

Avax Apparels and Ornaments operates two distinct business lines:

  1. Wholesale Trading of Knitted Cloth:
    • Directly procures from manufacturers and supplies to garment manufacturers in Punjab.
    • Focuses on knitted cloth used for manufacturing jackets for both men and women.
    • Leverages its geographical advantage, being based in a major cloth manufacturing hub.
  2. Online Retail of Silver Ornaments:
    • Offers a wide range of silver products, including rings, bangles, chains, plates, and glasses.
    • Provides customization options for weight and design preferences.

Industry Insights:

The knitted cloth segment is a key contributor to India’s textile industry, with significant domestic and export demand. Similarly, the silver jewellery market continues to grow, driven by evolving consumer preferences and demand for customized products.

Conclusion:

Avax Apparels and Ornaments’ stellar listing reflects strong investor confidence in its diversified business model and growth potential in both the textile and silver ornament segments. The robust subscription levels further underscore its market appeal, positioning it as a noteworthy player in its industry segments.