Avi Ansh Textile share price lists with 9.7% premium over the issue price at ₹68 on the NSE SME | Stock Market News

Avi Ansh Textile share price lists with around 10% premium over the issue price, at ₹68 on the NSE SME on Friday

Avi Ansh Textile share price thereafter saw slight decline of 3.57% post listing 

Avi Ansh Textile IPO had seen strong subscription  during 20-24 September 2024 period when the IPO was open. The Avi Ansh Textile IPO was subscribed more than 8 times. By September 24, 2024, the public issue had received 11.38 subscriptions in the retail category and 5.25 subscriptions in the other category.

The grey Market Premium of GMP for Avi Ansh Textile was at +2 as per investorgain.com data. This meant that the shares of Avi Ansh Textile had been assigned price that was ₹2 higher than the issue price  

This meant that the investors were anticipating Avi Ansh Textile shares to list at ₹64,  with slight listing gains of 3.24% over the  the issue price of ₹62.

The ₹25.99 crore Avi Ansh Textile IPO is a fixed price offering where 41.92 lakh shares are being issued fresh 

The Company intends to fund the the Net Proceeds from the Issue to fulfill the needs for working capital , Repayment of Term Loans and General Corporate Purposes.

The registrar for the Avi Ansh Textile IPO is Skyline Financial Services Private Ltd, and the book running lead manager is 3Dimension Capital Services Limited.

Avi Ansh Textile Limited, which was incorporated in April 2005, is a producer and exporter of yarn made entirely of cotton, including carded and combed cotton yarn in different counts.

Avi Ansh Textile Limited has demonstrated its commitment to environmental management and quality assurance by obtaining ISO 9001:2015 and ISO 14001:2015 certifications.

In order to satisfy client demands, the company manufactures and supplies a range of yarns and textiles for both domestic and international markets.