Avana Electrosystems Ipo
Avana Electrosystems IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Indcap Advisors Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | January 12, 2026 |
| IPO Close Date | January 14, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹56 to ₹59 Per Share |
| Issue Size | Approx ₹35 Crores |
| Fresh Issue | Approx ₹33 Crores |
| Offer for Sale: | Approx 7,94,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,36,000 |
| Retail Maximum | 2 | 4,000 | ₹2,36,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,54,000 |
| S-HNI Maximum | 8 | 16,000 | ₹9,44,000 |
| B-HNI Minimum | 9 | 18,000 | ₹10,62,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 16,90,000 Shares | 28.31% |
| QIB (Ex. Anchor) | 11,28,000 Shares | 18.89% |
| NII Shares Offered | 8,64,000 Shares | 14.47% |
| Retail Shares Offered | 19,88,000 Shares | 33.30% |
| Anchor Bidding Date | January 9, 2026 |
| Anchor Investors List | |
| Shares Offered | 16,90,000 Shares |
| Anchor Size | 9.97 Cr. |
| lock-in period end date 50% shares (30 Days) | February 14, 2026 |
| lock-in period end date 50% shares (90 Days) | April 15, 2026 |
| IPO Open Date: | January 12, 2026 |
| IPO Close Date: | January 14, 2026 |
| Basis of Allotment: | January 15, 2026 |
| Refunds: | January 16, 2026 |
| Credit to Demat Account: | January 16, 2026 |
| IPO Listing Date: | January 19, 2026 |
| IPO Bidding Cut-off Time: | January 14, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,74,69,408 | 100% |
| Promoter Holding Post Issue | 2,26,45,408 | 73.64% |
| Purpose | Crores |
| Capital expenditure towards civil construction, internal electric work and internal plumbing to set up an integrated manufacturing unit | ₹11.55 |
| To meet Working Capital requirements of the Company | ₹8.40 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹28.59 | ₹27.41 | ₹0.92 | ₹28.52 |
| 2024 | ₹53.26 | ₹47.03 | ₹4.02 | ₹38.07 |
| 2025 | ₹62.93 | ₹50.64 | ₹8.31 | ₹49.42 |
| September 2025 | ₹36.28 | ₹28.95 | ₹5.61 | ₹53.91 |
| KPI | Values |
| ROE: | 47.11% |
| ROCE: | 53.71% |
| EBITDA Margin: | 20.36% |
| PAT Margin: | 13.52% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹4.76 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 38.13% |
| Net Asset Value (NAV): | ₹12.48 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Danish Power Limited | 34.55 | 30.18 | 18.00% | 162.51 | 432.95Cr. |
| Aartech Solonics Limited | 0.87 | 73.86 | 8.74% | 19.80 | 39.33 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |