Avi Ansh Textile’s shares debuted on the NSE SME at ₹68, marking a premium of about 10% over the issue price. However, after listing, the share price dipped by 3.57%.
The IPO, which was open for subscription from September 20 to 24, 2024, saw strong demand, with total subscriptions exceeding 8 times. By September 24, the retail category had subscribed 11.38 times, while the other categories saw a subscription of 5.25 times.
According to data from investorgain.com, the grey market premium (GMP) for Avi Ansh Textile was ₹2, indicating that shares were expected to list at around ₹64, resulting in a slight gain of 3.24% over the issue price of ₹62.
The IPO raised ₹25.99 crore by issuing 41.92 lakh new shares at a fixed price. The funds will be used for working capital needs, repaying term loans, and general corporate purposes.
Skyline Financial Services Private Ltd is the registrar for the IPO, while 3Dimension Capital Services Limited is the book-running lead manager.
Founded in April 2005, Avi Ansh Textile produces and exports cotton yarn, including carded and combed varieties. The company holds ISO 9001:2015 and ISO 14001:2015 certifications, reflecting its commitment to quality and environmental management. It supplies a variety of yarns and textiles to both domestic and international markets.
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