Avana Electrosystems IPO Opens Today; Price Band Set at ₹56 to ₹59 Per Share

Mumbai, 12 January 2026: The ₹35.22 crores Avana Electrosystems IPO opens today, 12 January 2026, for subscription and shall be opened until 14 January 2026. The IPO comprises a fresh issue of 0.52 crore shares and an offer for sale of 0.08 crore shares.

Incorporated in 2010, Avana Electrosystems Limited is engaged in the manufacturing of customised Control and Relay Panels. The company offers Control and Relay Panels ranging from 11kv to 220kv for Power System Monitoring, Control and Protection Applications Transmission Lines, Power Transformers, Bus Bar, Capacitor Bank, etc, for both indoor and outdoor usage, MV and LV Panels, Protection Relays and Substation Automation Systems.

Price Band at ₹56 to ₹59 Per Share; Lot Size 200 share

Avana Electrosystems IPO is a book build issue of ₹35.22 crores. The issue is a combination of fresh issue of 0.52 crore shares aggregating to ₹30.54 crores and offer for sale of 0.08 crore shares aggregating to ₹4.68 crores.

The IPO opens for subscription today, January 12, 2026, and closes on January 14, 2026. The allotment for the IPO is expected to be finalised on January 15, 2026. The IPO will list on NSE SME with a tentative listing date fixed as January 19, 2026.

Avana Electrosystems’ IPO price band is set at ₹56 to ₹59 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,36,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,54,000.

Indcap Advisors Pvt. Ltd is the book running lead manager, and Integrated Registry Management Services Pvt. Ltd is the registrar of the issue. The Market Maker of the company is Asnani Stock Broker Pvt. Ltd.

Avana Electrosystems IPO Reservation and Anchor Investors

With regard to IPO reservation, Avana Electrosystems IPO offers a total of 59,70,000 shares. Out of which 28,18,000 (47.20%) has been allocated to QIB, 11,28,000 (18.89%) allocated to QIB (Ex- Anchor), 8,64,000 (14.47%) allocated to NII, 19,88,000 (33.30%) allocated to RII and 16,90,000 (28.31%) allocated to Anchor investors. Avana Electrosystems IPO raises ₹9.97 crore from anchor investors. 

Avana Electrosystems had raises ₹9.97 crore from anchor investors on January 9, 2026. Some of the key investors are Fortune Hands Growth Fund, Founders Collective Fund, Aarth AIF Growth Fund, Shrem Investments Private Limited, and NAV Capital VCC.

Utilisation of Proceeds

The company proposes to utilise the net proceeds from the issue towards capital expenditure towards civil construction, internal electric work, and internal plumbing to set up an integrated manufacturing unit (₹11.55 crore), to meet working capital requirements (₹8.40 crore), and for general corporate purposes.

Key Financials of Avana Electrosystems

As of 30 September 2025, the company had assets worth ₹53.91 cror͏e, up from ₹49.42 cror͏e in March 2025 and ₹38.07 cror͏e in March 2024, indicating a steadily growing balance sheet. The consolidated net profit stood at ₹36.28 crore compared to ₹62.93 crore in 2025 and ₹53.26 crore in 2024. Post tax profit was ₹5.61cror̲e, lower than ₹8.31 crore in March 202͏5͏ but above ₹4.02 c͏rore in March 2024. The EBITDA was at ₹7.63 crore, while the net worth grew to ₹27.41 crore, and the borrowings remained stable at ₹5.68 crore. 

Avana Electrosystems IPO Subscribed 0.65 Times So Far on Day 1

Avana Electrosystems IPO subscribed 0.65 times. The public issue subscribed 0.70 times in the individual investors category, 0.00 times in QIB (Ex Anchor), and 1.38 times in the NII category by January 12, 2026, 12:25:01 PM (Day 1).

The QIB (excluding anchor) category was͏ offered 1͏1.28 ͏lakh shares but received no bids. Non-institutional investors were offered 8.64 lakh shares and bid ͏for 11.͏94 lakh shares, with bNII ͏bidding for 9.22 lakh ͏shares against 5.76 lakh ͏offered and sNII bidding for 2.72͏ ͏lakh shares against 2.88͏ lakh offered. Individual investors were offered 19.88͏ lakh sha͏res an͏d ͏submitted bids for 13.92 lakh shares. Anchor investors were offered 16.90 lakh shares a͏nd placed͏ bids for 16.90 lakh shares. 

Overall, the issue offered 39.80 lakh shares and received bids for 25.86 lakh shares.

References: https://www.nseindia.com/market-data/issue-information?symbol=AVANA&series=SME&type=Active

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