Home
Charts
Search
Watchlist
Products
All IPOs
₹59 - 59
Avana Electrosystems Ltd
Capital Goods - Electrical EquipmentIPOSME
₹59 - 59
The Company is a manufacturer of customised 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. These panels are used across various sectors and industries to facilitate the transmission and distribution of electrical power.
Lot2,000Min Invest₹2,36,000Face Value₹10Issue Size₹35 CrFresh Issue₹31 CrOffer for Sale₹5 CrListing Price₹78CMP₹161
Timeline
12 Jan
Bidding opens
14 Jan
Bidding closes
16 Jan
Allotment
19 Jan
Refund & demat credit
20 Jan
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹35 Cr0.60 Cr shares
Fresh Issue₹31 Cr
Offer for Sale₹5 Cr
Face Value₹10
Lot Size2,000 shares
ReservationQIB 49.7% · NII 15.24% · RETAIL 35.06%
Application Sizes
Retail₹2,36,0001-1 lots
sNII₹2,36,000from 2 lots
bNII₹10,62,000from 9 lots
Managers & Registrar
Lead ManagerIndcap Advisors Pvt Ltd
RegistrarIntegrated Registry Mgt Ser.Pv
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrAnantharamaiah PanishPRMTR2,01,8751.19Gururaj DambalPRMTR2,01,8751.19S Vinod KumarPRMTR1,88,3751.11K N SreenathPRMTR2,01,8751.19Total7,94,0004.68
Shareholding
CategoryPre IPOPost IPOPromoter Group100.01%73.63%Public-0.01%26.37%
Objects of the Issue
- Capital expenditure towards civil construction, internal electric work and internal plumbing to set up an integrated manufacturing unit
- To meet Working Capital requirements of the Company
- General Corporate Purposes
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 20 | 28 | 53 | 61 | 84 |
| Operating ProfitCr | 1 | 2 | 7 | 13 | 16 |
| OPM% | 3.8 | 6.8 | 14.0 | 20.4 | 19.5 |
| PBTCr | 1 | 1 | 6 | 12 | 16 |
| PATCr | 0 | 1 | 4 | 9 | 12 |
| EPS | 5 | 1 | 2 | 5 | 6 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 1 | - |
| ReservesCr | 8 | 9 | 13 | 21 | - |
| BorrowingsCr | 4 | 7 | 9 | 6 | - |
| Total AssetsCr | 20 | 29 | 38 | 49 | - |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 0 | 0 | 1 | 7 | 8 |
| Investing Cash FlowCr | 0 | -1 | -1 | -1 | -9 |
| Financing Cash FlowCr | -1 | 2 | 1 | -5 | 20 |
| Net Cash FlowCr | -1 | 1 | 1 | 2 | 18 |
Strengths & Risks
Strengths · as stated in the DRHP
- Strong customer relationships and wide customer base.
- Customisation & Multi - Product Portfolio.
- Quality Standard Certifications & Quality Tests.
- Experienced Promoters and Senior Management Team.
- Geographical reach.
- In-house R&D Team.
Strategies · as stated in the DRHP
- Integration of existing manufacturing units by relocating into one single expanded manufacturing unit.
- Expanding its reach by establishing regional offices in Western, Eastern and North-Eastern region parts of India.
- Expanding its dealer network across India.
- Tapping export markets by participating in international exhibitions and appointing overseas representatives and dealers.
- Broadening its product range to meet evolving market needs.
Risks · as stated in the DRHP
- The company's intend to set up its integrated manufacturing unit on land taken on leave and license from Karnataka Industrial Areas Development Board (KIADB) and a part of the IPO proceeds is proposed to be utilised for the same. As per the lease agreement entered with KIADB, there are certain prescribed conditions and timelines pertaining to commencement and completion of work. The Company was required to start the commercial productions by June 01, 2020. The Company didn't start the commercial production by the given date. Subsequently, the company has been granted one year extension of time by KIADB for the commercial productions i.e. till May 22, 2026. In case the company fails to start its commercial production by May 22, 2026,the company may faces consequences of non-adherence of the terms and conditions of KIADB, which could have an adverse impact on its growth plans and the company's business and financial condition.
- The company has not identified any alternate source of funding to meet its capital expenditure requirements and hence any failures or delay on the company's part to mobilize the required resources or any shortfall in the Net Issue proceeds may delay the implementation schedule.
- The company derives a significant portion of its revenue from operations from limited number of customers, and the loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for the company's products could adversely affect its business, results of operations, financial condition and cash flows. Any adverse change in the business relationship with one or more of the company's top 5 and top 10 customers, including a reduction in order volume, changes in contract terms, delayed payments, or termination, could materially and adversely affect its revenue, cash flows, and overall financial performance.
- A significant portion of its revenue from operations is generated from three states (Madhya Pradesh, Maharashtra and Karnataka). Any adverse development affecting the company's business operations in these regions could have a negative impact on its revenue and results of operations.
- The company depends on the Tender / Government Orders from State owned Power Distribution and Transmission Companies, Private Players engaged in panel manufacturing / EPC Contractors and Dealers for selling of the company's products. The company's significant dependence on Private Players for supply of its products may affect the company's revenue from operation and profits.
- The company's reliance for raw materials/components is highly dependent on a few limited numbers of suppliers and the loss of one or more such suppliers, the deterioration of their financial condition or prospects, or higher demand from its competitors could adversely affect the company's supplies from these suppliers. Any adverse change in its business relationship with one or more of the company's top 5 and top 10 suppliers, including a reduction in materials supplied, changes in supply terms, changes in payment terms, or termination of its orders, could materially and adversely affect the company's revenue, cash flows, and overall financial performance and also expose it to risks of supply disruptions, pricing volatility which may adversely impact our production schedules and financial performance.