Avana Electrosystems Limited IPO
Avana Electrosystems Limited was originally incorporated on July 16, 2010 under the Companies Act, 1956. Pursuant to a special resolution passed by shareholders at the Extraordinary General Meeting held on December 9, 2024, the Company was converted into a public limited company and renamed Avana Electrosystems Limited on December 17, 2024.
These solutions are used in solar power plants, wind farms, power generation units, transmission stations, substations, and power utilities, supporting efficient electricity transmission and distribution.
Product Portfolio
The Company’s product offerings include:
i) High Voltage & Extra High Voltage Systems: Control and relay panels for SCADA and substation automation, feeder protection, transformer protection, bus-bar protection, and capacitor bank protection.
ii) Medium Voltage Systems: Indoor and outdoor control and relay panels for feeders, bus couplers, and transformers.
iii) Low Voltage Systems: AC and DC distribution boxes, on-load tap changer panels, and metering panels.
iv) Protection and Electromechanical Relays: Devices used for fault detection and equipment protection.
Manufacturing Facilities and Infrastructure
Avana Electrosystems operates two manufacturing units in Bengaluru, Karnataka, equipped with advanced testing and quality-control infrastructure. The facilities are supported by skilled engineers and technicians specializing in design, manufacturing, testing, and commissioning. The Company employs 129 personnel as of August 31, 2025.
Customer Base and Market Presence
The Company primarily serves government power utilities and private sector energy producers across India. It has also commenced exports, supplying products to customers in Kuwait during FY 2025–26, marking its entry into international markets.
Growth and Strategy
From initially offering control and protection solutions, the Company has evolved into a comprehensive provider of relays and control panels. Backed by experienced promoters and a qualified management team, Avana Electrosystems continues to focus on technology-driven growth, operational excellence, and expanding its footprint in domestic and international power infrastructure markets.
Objects of the Avana Electrosystems Limited IPO:
Avana Electrosystems Limited IPO Details:
| Open Date: | Jan 12 2026 |
| Close Date: | Jan 14 2026 |
| Total Shares: | 59,70,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 35 Cr. |
| Lot Size: | 2000 Shares |
| Issue Price: | ₹ 56-59 Per Equity Share |
| Listing At: | NSE Emerge |
| Listing Date: | Jan 19 2026 |
Promoters And Management:
Financials of Avana Electrosystems Limited IPO:
| Particulars | 6M FY2025-26 | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations (Cr) | 36 | 61.48 | 53 | 28 |
| EBITDA (Cr) | 8 | 12 | 7 | 2 |
| EBITDA Margins | 21% | 20% | 14% | 7% |
| PAT (Cr) | 6 | 8 | 4 | 1.0 |
| PAT Margins | 16% | 13% | 8% | 3% |
| ROCE | 27% | 54% | 40% | 15% |
| D/E Ratio | 0.07 | 0.13 | 0.37 | 0.37 |
| OPerating Cash Flow | 1.5 | 6.7 | 0.9 | -0.31 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Avana Electrosystems Limited | 61.48 | 20% | 13% | 54% | 0.13 | 133.6 | 16.7 |
| Danish Power Limited | 425 | 19% | 14% | 40% | 0.01 | 1307 | 19.5 |
| Aartech Solonics Limited | 36.35 | 4% | 8% | 6% | 0.16 | 170 | 51.6 |
| Note : Forward P/E is 11.31 According to FY26 PAT | |||||||
Lead Manager of Avana Electrosystems Limited IPO:
Registrar of Avana Electrosystems Limited IPO:
Discussion on Avana Electrosystems Limited IPO:
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