Avalon Technologies IPO: Share allotment likely to be finalized on April 12

Avalon Technologies IPO: After the closure of bidding of the Company, the share allotment of Avalon Tech IPO is most likely to be finalized on April 12. The allotment will be done on a lottery basis under the supervision of the registrar Link Intime India.

Also, on the allotment date, investors get to know the number of shares allotted to them as against the bids made.

The Rs 865-crore IPO, Avalon Tech was subscribed 2.21 times on the last day of subscription on Thursday, supported by huge participation from qualified institutional buyers (QIBs) with subscription at 3.57 times the reserved part.

While retail investors' portion was subscribed 84%, non-institutional investors was subscribed 41%.

Avalon Technologies was founded in 1999 and is an end-to-end electronic manufacturing service solutions provider. It has 12 manufacturing units located across the US and India.