Avax Apparels and Ornaments : Avax Apparels and Ornaments shares get listed at 90% premium!Avax Apparels and Ornaments : Avax Apparels and Ornaments shares get listed at 90% premium!

Avax Apparels and Ornaments Ltd debuted on the BSE SME platform with shares opening at Rs 133 each, marking a 90 percent premium over the initial offering price of Rs 70. This substantial premium highlighted strong investor enthusiasm.

Avax Apparels and Ornaments IPO witnessed significant investor demand on Day 3, with non-institutional investors subscribing 140.46 times and retail investors 372.35 times their respective quotas. Overall, the issue was subscribed 260.42 times, underscoring robust market confidence in the company.

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Avax Apparels and Ornaments Limited operates in wholesale trading of knitted cloth, catering to garment manufacturers in Punjab, and online retail of silver ornaments. The company offers diverse silver products, including jewellery and utensils, delivering nationwide, and specializes in knitted fabrics for jackets.

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Avax Apparels and Ornaments Ltd aims to use IPO proceeds to meet working capital needs and enhance operations. The funds will improve inventory management, marketing, and in-house production efficiency while also supporting general corporate purposes for business growth.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.