Shares of Avana Electrosystems made a strong debut on the NSE SME platform today, January 20, listing with a sharp premium over the IPO issue price.
During the special pre open session, the stock was discovered at Rs 71.05 per share, marking a gain of Rs 12.05 or 20.42 percent over the issue price of Rs 59. The equilibrium quantity in the pre open session stood at 17.76 lakh shares, reflecting active participation from market participants ahead of regular trading.
Listing Performance and Early Trade
As of 09:35 IST, Avana Electrosystems was trading at Rs 71.05, with the issue price of Rs 59 recorded as the previous close. The stock entered the market firmly above its IPO price, indicating a positive start on listing day.The early order book showed stronger buying interest compared with selling interest, suggesting continued demand in the initial phase of trading.
IPO Structure and Subscription Details
The Rs 35.22 crore SME IPO comprised a fresh issue of shares worth Rs 30.54 crore and an offer for sale of Rs 4.68 crore by existing shareholders. The issue closed for subscription on January 14.The public issue received an overwhelming response, with overall subscription reaching 131.82 times. The non institutional investor segment was subscribed 219.02 times, while retail investors subscribed 137.52 times. Qualified institutional buyers, excluding anchor investors, subscribed 54.97 times. Anchor investors had invested Rs 9.97 crore in the issue on January 9.
Grey Market Trend Ahead of Listing
Ahead of the listing, grey market activity had indicated sustained interest in the stock. On listing day, the grey market premium stood at Rs 10.5 per share, pointing to an estimated listing price of around Rs 69.5, implying a premium of about 17.8 percent over the issue price. The actual listing price exceeded these indications.Business Overview
Avana Electrosystems is engaged in the manufacture of customised control and relay panels used in power system monitoring, control and protection applications. Its product portfolio includes panels and relays catering to transmission lines, power transformers, bus bars and substations, with voltage applications ranging from 11 kV to 220 kV.The company operates two manufacturing facilities located in Bengaluru’s Peenya Industrial Estate and employs 129 people.
Financial Performance
For the year ended March 2025, the company reported total income of Rs 62.93 crore and a profit after tax of Rs 8.31 crore, compared with a PAT of Rs 4.02 crore in FY24. For the six months ended September 2025, Avana Electrosystems posted a profit after tax of Rs 5.61 crore on income of Rs 36.28 crore.Use of IPO Proceeds
Proceeds from the fresh issue are planned to be utilised primarily for setting up an integrated manufacturing unit, meeting working capital requirements and for general corporate purposes.With a strong listing at a premium of over 20 percent, Avana Electrosystems begins its journey as a listed entity on the NSE SME platform, as investors track its trading performance through the remainder of the session.
GMP Note:
The GMP prices mentioned above are only indicative of unofficial grey market activity. Grey market data is not regulated, may change frequently, and does not guarantee the actual listing price or future market performance. We do not trade or deal in the grey market, nor do we recommend trading based on GMP or sub2 rates.
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