Avana Electrosystems IPO
smelistedAbout the company
Avanta Electrosystems manufactures controls, relays and relay panels for power system monitoring, control, and protection applications. The company designs and manufactures customised control and relay panels with voltage ratings ranging from 11 kV to 220 kV, including MV and LV panels, protection relays, and substation automation systems. These products are used for applications such as transmission lines, power transformers, bus bars, and capacitor banks, for both indoor and outdoor usage. Its products are supplied to sectors involved in power generation, transmission, and distribution. This includes solar power plants, wind farms, power transmission stations, electricity board substations, and power utility companies. Control and relay panels contributed 60.26% of revenue, and relays 39.74% as of September 2025. Its customers mainly include government power utilities and private energy producers, with operations throughout India. As of September 2025, tender/government orders made up 22.90% of revenue, private parties accounted for 76.24%, and the network of dealers contributed 0.86%. It also commenced exports to Kuwait in FY26. The company operates through two units located in Bengaluru, Karnataka. Unit I has an installed capacity of 70,000 relays per year, while Unit II has an installed capacity of 600 control and relay panels per year as of FY25.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 14 Jan | ₹13 | ₹72 | -3.1000000000000014 |
| 13 Jan | ₹16.1 | ₹75.1 | +0.10000000000000142 |
| 12 Jan | ₹16 | ₹75 | +2 |
| 11 Jan | ₹14 | ₹73 | 0 |
| 10 Jan | ₹14 | ₹73 | +6 |
| 09 Jan | ₹8 | ₹67 | 0 |
| 08 Jan | ₹8 | ₹67 | +3.5 |
| 07 Jan | ₹4.5 | ₹63.5 | 0 |
Strengths
- Manufacturing setup located in an established industrial region
- Experienced promoters with technical and industry expertise
- Diversified product portfolio across electrical panels, switchgear, automation, and power systems
- Presence across multiple industrial and power sector applications
- Consistent improvement in revenue and operational performance
- Established relationships with customers in infrastructure and industrial segments
- Focus on quality standards and certified manufacturing processes
Risks
- Business performance linked to industrial and capital expenditure cycles
- Competitive electrical equipment market with pricing pressure
- Operational risks related to expansion and execution delays
- Use of leased premises may create continuity and cost-related challenges
- Working capital intensive business model impacting cash flow management
- Exposure to fluctuations in raw material prices affecting margins
- Dependence on select customer segments and limited geographic regions
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed12 Jan 2026Bidding starts for all investor categories
IPO Closes
Completed14 Jan 2026Last day to place your bid
Basis of Allotment
Completed15 Jan 2026Share allotment finalised
Refund Initiation
Completed16 Jan 2026Refunds credited for non-allottees
Credit to Demat
Completed16 Jan 2026Allotted shares credited to demat account
Listing on Exchange
Completed19 Jan 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 2000 | ₹118,000 | 1 | ₹118,000 | 1 lot only |
| HNI | 2 | 4000 | ₹236,000 | 2 | ₹236,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 3,043,479 | 17.5 | 0 | 0.00x | 100% |
| NII | 15% | 913,044 | 5.25 | 0 | 0.00x | 100% |
| Retail | 35% | 2,130,435 | 12.25 | 0 | 0.00x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
