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Avi Ansh Textile’s IPO Takes Off Strong Then Slips: Read To Know More !

Avi Ansh Textile debuted at ₹68, up 9.7%, on the NSE SME. Despite an initial 10% rise, the stock dipped by 3.57% shortly after its Friday launch.
Avi Ansh Textile's IPO Takes Off Strong Then Slips: Read To Know More !

Avi Ansh Textile’s share price debuted on the NSE SME at ₹68, a 9.7% premium over its issue price. Launching on Friday, the stock initially saw about a 10% increase but experienced a slight 3.57% decline shortly after listing.

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Avi Ansh Textile Limited IPO witnessed strong investor interest on its third day, achieving a 8.07x subscription. This strong response signals initial demand and positive market sentiment, showcasing confidence in the company’s future growth prospects.

Avi Ansh Group, a global textile leader, utilises advanced German and European technology to produce and supply premium cotton and blended yarns, and fabrics. With three decades of experience, the company focuses on sustainability and continuous technology improvement, offering products like carded cotton yarns and various knitted fabrics, aligning with evolving market demands through vertical integration.

Avi Ansh Textile Ltd aims to use IPO funds to repay ₹3.95 crores in loans, allocate ₹20.12 crores to working capital, and spend ₹0.56 crores on general corporate purposes.

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