The Offer for Sale comprises Equity Shares aggregating up to Rs. 1,310 million of Kunhamed Bicha and up to Rs. 1,720 million of Bhaskar Srinivasan; (the “Promoter Selling Shareholders”).

The Price Band of the Offer has been fixed at Rs. 415 to Rs. 436 per Equity Share. Bids can be made for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter.

Avalon Technologies Limited (“the Company”), proposes to open its initial public offering of equity shares of face value of ₹ 2 each aggregating up to Rs. 8,650 million  (“Equity Shares”) on Monday, April 3, 2023. The initial public offering comprises of a fresh issue of Equity Shares aggregating up to ₹ 3,200 million (“Fresh Issue”) and an offer for sale of Equity Shares aggregating up to ₹ 5,450 million by selling shareholders (the “Offer for Sale” and together with the Fresh Issue, the “Offer”). The Anchor Investor Bidding Date shall be Friday, March 31, 2023.  The Offer will open on Monday, April 3, 2023 for subscription and will close on Thursday, April 6, 2023.

The Price Band of the Offer has been fixed at Rs. 415 to Rs. 436 per Equity Share. Bids can be made for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter.

The Company proposes to utilize the net proceeds of the Fresh Issue towards funding of the following objects: (i) prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and one of the Material Subsidiaries, i.e. Avalon Technology and Services Private Limited estimated to be Rs. 1,450 million; (ii) funding the working capital requirements of the Company estimated to be ₹ 900 million; and (iii) balance amount towards General corporate purposes.

The Offer for Sale comprises Equity Shares aggregating up to Rs. 1,310 million of Kunhamed Bicha and up to Rs. 1,720 million of Bhaskar Srinivasan; (the “Promoter Selling Shareholders”); up to ₹ 160 million of T P Imbichammad; up to Rs.100 million of Mariyam Bicha; up to ₹ 755 million of Anand Kumar; up to ₹ 650 million of Sareday Seshu Kumar and up to ₹ 755 million of Luquman Veedu Ediyanam .

The Equity Shares are being offered through the red herring prospectus of the Company dated March 23, 2023 (the “RHP”) filed with Registrar of Companies, Tamil Nadu at Chennai  and are proposed to be listed on recognized stock exchanges (the “Stock Exchanges”) being  BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, NSE is the Designated Stock Exchange.

JM Financial Limited, DAM Capital Advisors Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the Offer.