Friday, Apr 19 2024 | Time 09:02 Hrs(IST)
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Business Economy


Avalon Tech IPO on April 3

Mumbai, Mar 28 (UNI) Electronic manufacturing services firm, Avalon Technologies, announced on Tuesday that it is all set to kick off its bids for its initial public offering on 3 April to raise capital to repay debts.
The price band of IPO has been set in the range of Rs 415-436 per piece.
The company is looking to raise Rs 865 crore via IPO, of which Rs 320 crore will comprise fresh issuance of shares, while the remaining Rs 545 crore will be through an offer-for-sale by promoters and existing shareholders.
Avalon Technologies plans to use the net proceeds from the fresh issue to fund debt payments, working capital requirements and general corporate purposes.
It will close on 6 April, a release stated here.
UNI JM SS 1842
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