Avax Apparels And Ornaments Limited IPO

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The Company operates in two distinct business lines: wholesale trading and online retail of silver ornaments.

Wholesale Trading:

They specialize in the wholesale trading of knitted cloth, primarily supplying manufacturers in Punjab who produce readymade garments, including jackets for both men and women. By purchasing directly from manufacturers, they leverage their geographical advantage, being situated in a key cloth manufacturing hub, to efficiently distribute high-demand knitted cloth. Their strong business relationships and proximity to suppliers contribute to their success in this segment.

In addition to trading, they are expanding into the manufacturing of knitted cloth. They have recently invested in machinery and are poised to begin production soon. This backward integration is expected to increase their profit margins and reduce their reliance on outsourced materials, ultimately lowering their working capital requirements by securing work with shorter credit periods.

Online Retail of Silver Ornaments:

Their online retail business offers a diverse range of silver ornaments, including rings, bangles, chains, and ethnic designs specific to Punjabi culture. They cater to customers across India, providing a variety of products in different weights and styles. Their key advantages in this sector include operating in the affordable silver market, meeting the increasing demand for silver jewellery, and offering products that replicate popular gold designs. Their unique access to exclusive Punjabi ethnic designs further enhances their appeal in the market.

Objects of the Avax Apparels And Ornaments Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: i. To meet the Working Capital requirements of the Company; ii. To meet the General Corporate Purposes
DRHP of Avax Apparels And Ornaments Limited IPO

Avax Apparels And Ornaments Limited IPO Details:

Total Shares: 274,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 1.92 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 70 Per Equity Share
Listing At: BSE SME

Promoters And Management:

Mr. Harinderpal Singh Sodhi, he is the Managing Director of the Company, appointed on November 7, 2022 and subsequently reappointed for 3 years on 31st October 2023. He holds a Bachelor's degree in Arts from Shridhar University, Pilani, Rajasthan and has 8 years of experience as a business manager. Mr. Harish Kumar, he is an Executive (Whole-Time) Director of the Company, appointed on December 30, 2022. He holds a Bachelor's degree in Arts from Punjab University, Chandigarh and has 9 years of experience in wholesale trading. Mrs. Deepika, she is an Executive (Whole-Time) Director of the Company, appointed on December 30, 2022. She holds a B.Tech degree in Computer Science from Lovely Professional University, Jalandhar and has 5 years of experience as an IT Consultant.

Financials of Avax Apparels And Ornaments Limited IPO: 

To be updated shortly.

Comparison With Peers:

To be updated shortly.

Recommendation on Avax Apparels And Ornaments Limited IPO:

To be updated shortly.

Lead Manager of Avax Apparels And Ornaments Limited IPO:

  1. SKI Capital Services Limited

Registrar of Avax Apparels And Ornaments Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Avax Apparels And Ornaments Limited 611 6th Floor r Jaina Tower II Distt. Centre anakpuri, West Delhi,-110058 Phone: +011-44750642 Email: secretarial@avaxapparels.com Website: https://avaxapparels.com/

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