Avax Apparels share price: Avax Apparels shares to list today. Check GMP to know listing potential

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After the euphoric public response for the Avax Apparels And Ornaments IPO, the shares will debut on the BSE SME platform later today. The company, which raised just Rs 2 crore through the public offer, is commanding a GMP of Rs 10 in the grey market just ahead of the debut.

This current GMP indicates a premium of 14% over the issue price of Rs 70 and may change in the lead up to the listing.

The company offered 2.74 lakh shares for investors through its IPO and received bids for over 6 crore shares, taking the overall subscription levels past 250 times.

Avax Apparels engages in two distinct lines of businesses – wholesale trading of knitted cloth and online retail of silver ornaments. Under the wholesale trading business, the company directly buys from manufacturers and supplies wholesale to companies and readymade garment manufacturers in Punjab.

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The company specialises in knitted cloth in the trading business. This cloth is used for the manufacturing of ladies’ and gents’ jackets. Its key advantages in wholesale trading include a geographical advantage, being located in the hub of cloth manufacturing.

Additionally, the growing demand for these products and the strong business relationships of the management also contribute to the company’s success in this segment.

The knitted cloth market in India is a significant contributor to the country’s textile industry, with a wide range of products being produced and exported to various countries around the world.

Under the online retail of silver ornaments, they offer a wide range of designs and articles with a choice of weight of products, such as silver rings, silver ladies pajeb, silver gents kada, silver plate set, silver glass, silver bangles, silver bowls, silver chains, and other silver jewellery.

The company’s key advantages in this business include operating in the affordable silver ornaments sector, an increase in demand for silver ornaments in Indian markets, the ability to replicate gold jewellery designs in silver, and access to exclusive Punjabi ethnic designs.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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