Avana Electrosystems shares made a strong debut on January 20 on the NSE Emerge platform. The stock was listed at ₹77.50 per share, which is about 31.4% higher than its SME IPO price of ₹59 per share.
After the strong listing, the share price fell nearly 5% and touched the lower circuit at ₹73.65. Even after this decline, the stock is still trading around 25% above its IPO price.
There was strong excitement among investors before the listing. In the grey market, the company’s shares were trading at a premium (GMP) of around 17% ahead of the listing.
IPO Details and Subscription Status
Avana Electrosystems’ SME IPO was worth ₹35.22 crore and received an overwhelming response from investors. The issue closed on January 14 and was subscribed 131.82 times in total.
Non-institutional investors (NIIs) showed the highest interest, subscribing the issue more than 219 times.
Retail investors also participated strongly, bidding over 137 times their allocated shares. Qualified Institutional Buyers (QIBs) subscribed the issue nearly 55 times.
Before the public issue, anchor investors had already invested ₹9.97 crore in the company on January 9.
Company Business Overview
Avana Electrosystems operates in the power sector. The company manufactures customized control and relay panels that are used for monitoring, controlling, and protecting power systems.
These products are used in important infrastructure projects such as transmission lines, power transformers, substations, and bus bars. The company manufactures panels and relays for voltage levels ranging from 11 kV to 220 kV.
Avana Electrosystems has two manufacturing units located in the Peenya Industrial Area of Bengaluru and currently employs 129 people.
Financial Performance and Use of IPO Funds
The company has shown strong financial growth. For the year ended March 2025, Avana Electrosystems reported a total revenue of ₹62.93 crore and a profit of ₹8.31 crore. In comparison, its profit after tax (PAT) in FY24 was ₹4.02 crore.
In the six months ending September 2025, the company earned a profit of ₹5.61 crore on revenue of ₹36.28 crore.
The funds raised through the IPO will be used to set up a new manufacturing unit, meet working capital needs, and cover general corporate expenses.