The Avana Electrosystems IPO, worth ₹35 Crore, is a book-built IPO, with a combination of 50,90,000 fresh equity shares and 10,00,000 offer-for-sale, totalling up to 60,90,000 Equity Shares, of face value of ₹10.
Avana Electrosystems IPO bidding process will begin from 12 January 2026 to 14 January 2026, and the share allotment will be completed on 15 January 2026. The IPO shares will list on the NSE SME on 19 January 2026.
The Avana Electrosystems IPO has a price range of ₹56/share to ₹59/share. The applications are to be made in lots of 2,000 shares. The retail investors are required to apply for a minimum of 4,000 shares, up to ₹2,36,000 at the upper price band. The minimum application size for the HNI investors is 3 lots of 6,000 shares, which comes ₹3,54,000 lakh of investment.
Avana Electrosystems IPO Details
| IPO Opens | 12 January 2026 |
| IPO Closes | 14 January 2026 |
| Face value | ₹10 |
| Price Band | ₹56-₹59/share |
| Issue price | – |
| IPO Lot Size | 2,000 shares |
| Offer for sale | 10,00,000 Equity Shares |
| Fresh issue | 50,90,000 Equity Shares |
| Issue Type | Book-built |
| Listing | NSE SME |
| Total Issue Size (₹ Crore) | ₹35 Crore (60,90,000 Equity Shares) |
| Minimum Investment | ₹2,36,000 |
Avana Electrosystems IPO Timeline
| Bid Opening Date | 12 January 2026 |
| Bid Closing Date | 14 January 2026 |
| Allotment Date | 15 January 2026 |
| Refunds Initiated | 16 January 2026 |
| Credit of Shares to Demat Account | 16 January 2026 |
| Listing Date | 19 January 2026 |
| UPI mandate Cut-off time | 14 January 2026 (5 PM) |
Avana Electrosystems Key Performance Indicator
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 47.11 | 35.07 | 10.25 |
| ROCE (%) | 53.71 | 40.02 | 15.31 |
| Debt-Equity Ratio (in times) | 0.13 | 0.37 | 0.37 |
| RoNW (%) | 38.13 | 29.84 | 9.75 |
| PAT Margin (%) | 13.52 | 7.59 | 3.25 |
| EBITDA Margin (%) | 20.36 | 14 | 6.76 |
| Price-Book Value | – | – | – |
Avana Electrosystems IPO Financial Information
| 2025 (in ₹ lakh) | 2024 (in ₹ lakh) | 2023 (in ₹ lakh) | |
| Revenue | 6,148.58 | 5,298.77 | 2,840.65 |
| Total Asset | 4,942.12 | 3,807.43 | 2,852.04 |
| Profit | 831.23 | 402.41 | 92.29 |
Avana Electrosystems IPO Subscription Status
Avana Electrosystems IPO subscription status for its shares are as follows:
| Day | QIB | NII | Individual Investor | Total |
| Day 1 | – | – | – | – |
| Day 2 | – | – | – | – |
| Day 3 | – | – | – | – |
Avana Electrosystems IPO Grey Market Premium (GMP Today)
The Avana Electrosystems IPO GMP currently stands at ₹0, reflecting subdued market interest, suggesting that investors are largely staying on the sidelines for now.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 6 January 2026 | ₹0 | ₹59 | ₹ (0.00%) | – |
| 5 January 2026 | ₹0 | ₹59 | ₹ (0.00%) | – |
| 4 January 2026 | ₹0 | ₹59 | ₹ (0.00%) | – |
Note: Grey market premium is an unofficial reference point and tends to fluctuate based on investor interest, subscription response, and broader market sentiment.
Avana Electrosystems IPO Reservation
Check out the Avana Electrosystems IPO share allocation.
| Category | Shares Offered % | Shares offered |
| Market Makers | – | – |
| QIB Shares Offered | Maximum 50% | – |
| Retail Investors | Minimum 35% | – |
| NII shares offered (HNI) | Minimum 15% | – |
| Total Shares Offered | 100% | 60,90,000 |
Avana Electrosystems IPO Lot Size
The retail investors are required to bid for 2 lots, that is 4,000 shares, and the other investors can bid in multiples of 2,000 shares.
| Application | Lot Size | Shares | Amount(in ₹) |
| Retail Investors (Min) | 2 | 4,000 | ₹2,36,000 |
| Retail Investors (Max) | 2 | 4,000 | ₹2,36,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,54,000 |
| S-HNI (Max) | 8 | 16,000 | ₹9,44,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,62,000 |
Avana Electrosystems IPO Anchor Investors Details
| Bidding on | – |
| Shares Offered | – |
| Anchor Investor Issue Size (in Crore) | – |
| Lock-in expiry date for 50% of the shares after 30 days | – |
| Lock-in expiry date for the remaining shares after 90 days | – |
Avana Electrosystems IPO Prospectus
| Avana Electrosystems IPO DRHP(Doc) | |
| Avana Electrosystems IPO RHP(Doc) | – |
| Avana Electrosystems IPO Anchor Investors | – |
| Avana Electrosystems IPO Final Prospectus | – |
About Avana Electrosystems Limited
Avana Electrosystems Limited, established on 16 July 2010, operates under the leadership of Managing Director Anantharamaiah Panish.
The company is the manufacturer of customised control and relay panel solutions designed for high-voltage electrical networks, supporting monitoring, operational control, and system safety requirements, across voltage levels up to 220 KV. The products serve transmission networks, transformers, bus bars, and capacitor systems for indoor and outdoor use, including MV, LV, and substation automation solutions.
Avana Electrosystems also produces protection relays used to detect electrical faults and safeguard equipment by analysing system parameters and initiating protective actions.
The company holds ISO 9001:2015 certification and runs two production facilities based in the Peenya Industrial area of Bengaluru, Karnataka.
| Book running lead managers | Indcap Advisors Pvt. Ltd. |
| IPO Registrar | Integrated Registry Management Services Pvt. Ltd. |
Objectives of the Avana Electrosystems
| Particulars | Amount (in ₹ lakh) |
| Capital spending for manufacturing facility setup | 1,155.38 |
| Working capital for the company | 840.00 |
| Corporate Requirements | – |
Strength Of Avana Electrosystems
- Established customer base: The company maintains long-standing relationships with its domestic clients and supplies products to both state-owned electricity distribution utilities and private distribution companies.
- Custom-built, diversified product range: The company offers a wide selection of made-to-order control and relay panels with voltage capacities, addressing varied power system needs.
- Dedicated in-house R&D capability: The company’s product development is supported by an internal R&D team comprising engineers, firmware specialists, and software developers.
- Certified quality and rigorous testing: The company’s strict quality standards and testing processes support consistent product performance, customer retention, and gradual brand recognition.
Risk of Avana Electrosystems
- Manufacturing Unit Deadline Risk: If the company delays in starting its commercial production by 22 May 2026, it may invite KIADB action, which will affect operations and future expansion plans.
- Dependence on IPO Proceeds: The absence of alternate funding sources could disrupt capital expenditure plans if the IPO proceeds fall short or are delayed.
- Ongoing Legal Matters: The company’s pending legal proceedings may negatively impact business operations, financial position, and overall stability if decided unfavourably.
- Strict Quality Compliance: The company’s failure to meet customer quality standards may result in order cancellations, product rejections, or recalls.
Avana Electrosystems IPO Review
Avana Electrosystems IPO reflects a stable business execution, with healthy margins and strong return ratios over the recent years. The revenue and profitability have shown consistent growth, supported by a specialised product focus and long-standing utility clients.
However, the GMP of ₹0 and dependence on timely project execution introduce caution. The IPO may suit investors with a higher risk appetite and a mid-term view.
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Avana Electrosystems IPO FAQs
Avana Electrosystems IPO is an SME public issue worth ₹35 Crore, with a fresh issue and offer for sale. The shares are offered through a book-built process and will list on NSE SME.
Investors can apply through broker platforms or trading apps using ASBA or UPI. Applications must be placed in lots of 2,000 shares within the announced bidding period.
The Avana Electrosystems IPO shows strong financial growth, improving margins, and low leverage. However, muted GMP levels and project execution timelines may concern conservative investors. The suitability depends on individual risk tolerance.
As of 6 January 2026, there is no assured return from the Avana Electrosystems IPO. With a current GMP of ₹0, listing gains appear limited, and returns will largely depend on long-term business performance and execution.
The Avana Electrosystems IPO opens for subscription on 12 January 2026 and will remain open for bidding until 14 January 2026.
The minimum lot size is 2,000 shares. The retail investors must apply for at least two lots, amounting to 4,000 shares at the applicable issue price.
The Avana Electrosystems IPO allotment shall be finalised on 15 January 2026, following the closure of the bidding process.
The Avana Electrosystems shares will list on NSE SME on 19 January 2026, subject to completion of allotment and regulatory procedures.
