Avana Electrosystems IPO is scheduled to open for subscription on January 12, 2026, and will close on January 14, 2026. The basis of allotment is expected to be finalised on January 15, 2026. The IPO is proposed to be listed on the NSE SME platform on January 19, 2026.
This IPO is a Book Build Issue through which Avana Electrosystems Limited plans to raise around ₹35 crore. The issue consists of a fresh issue of equity shares aggregating to approximately ₹33 crore and an offer for sale of up to 7,94,000 equity shares. The face value of each equity share is ₹10.
Avana Electrosystems IPO is priced in a range of ₹56 to ₹59 per share. The issue is reserved 50% for QIBs, 15% for NII (HNI) investors, and 35% for retail investors.
Contents
Avana Electrosystems IPO Details
| Particular | Details |
|---|---|
| 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 | Up to 7,94,000 equity shares |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Avana Electrosystems IPO
Open: 12-14 Jan
Issue Size: ₹35 Cr.
Objective: To fund capex for a new integrated manufacturing unit and working capital.
Exchange: NSE SME
Avana Electrosystems IPO Review
Avana Electrosystems Limited operates in the electrical equipment manufacturing segment with a strong focus on control and relay panels used in power transmission and distribution infrastructure. The company has demonstrated consistent improvement in both revenue and profitability over the last three financial years.
Revenue has grown steadily from ₹53.26 crore in FY2024 to ₹62.93 crore in FY2025, while profit after tax more than doubled during the same period. Strong operating margins, high return ratios, and expanding asset base indicate efficient operations. Based on the financial performance and sector relevance, the IPO appears suitable for investors with a long-term investment perspective.
Avana Electrosystems IPO Reservation Details
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| QIB (Ex-Anchor) | 50% | |
| NII (HNI) | 15% | |
| Retail Investors | 35% | |
| Anchor Investors |
Avana Electrosystems IPO Market Lot Details
The minimum market lot for Avana Electrosystems IPO is relatively high due to SME norms.
| Application Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 4,000 | ₹2,36,000 |
| Retail Maximum | 2 Lots | 4,000 | ₹2,36,000 |
| S-HNI Minimum | 3 Lots | 6,000 | ₹3,54,000 |
| S-HNI Maximum | 8 Lots | 16,000 | ₹9,44,000 |
| B-HNI Minimum | 9 Lots | 18,000 | ₹10,62,000 |
Avana Electrosystems IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | January, 2026 |
| Anchor Investors List | View PDF |
| Shares Offered | |
| Anchor Size | Cr. |
| Lock-in Period End Date (50% – 30 Days) | 2026 |
| Lock-in Period End Date (50% – 90 Days) | 2026 |
Avana Electrosystems IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | January 12, 2026 |
| IPO Close Date | January 14, 2026 |
| IPO Bidding Cut-off Time | January 14, 2026 – 5 PM |
| Basis of Allotment | January 15, 2026 |
| Refund Initiation | January 16, 2026 |
| Credit of Shares to Demat | January 16, 2026 |
| IPO Listing Date | January 19, 2026 |
| Listing Exchange | NSE SME |
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Promoters and Shareholding Pattern
The promoters of Avana Electrosystems Limited are Mr. Anantharamaiah Panish, Mr. Gururaj Dambal, Mr. S Vinod Kumar, and Mr. K N Sreenath.
| Particulars | Shares | Shareholding |
|---|---|---|
| Promoter Holding Pre-Issue | 1,74,69,408 | 100% |
| Promoter Holding Post-Issue | 2,26,45,408 | 73.64% |
Objects of the Issue
The company intends to utilise the IPO proceeds primarily for capital expenditure towards civil construction, internal electrical work, and internal plumbing to establish an integrated manufacturing unit.
A portion of the funds will also be used to meet the working capital requirements of the company, supporting its growing operational needs. The remaining proceeds will be applied towards general corporate purposes.
Objects of the Issue – Utilisation
| Purpose | Amount (₹ Crores) |
|---|---|
| Capital expenditure for manufacturing unit | 11.55 |
| Working capital requirements | 8.40 |
| General corporate purposes |
About Avana Electrosystems Limited
Established in 2010, Avana Electrosystems Limited is engaged in the manufacturing of customised control and relay panels. Its product portfolio includes indoor type control and relay panels, numerical protection relays, electromechanical relays, substation automation panels, and relay test blocks and plugs.
The company manufactures panels ranging from 11kV to 220kV, which are used for monitoring, controlling, and protecting power systems across substations, transformers, transmission lines, and capacitor banks. Avana Electrosystems also offers medium-voltage and low-voltage panels along with automation solutions. The company operates two manufacturing units located in the Peenya Industrial Estate, Bengaluru, Karnataka.
Avana Electrosystems Financial Performance
Amount in ₹ Crores
| Financial Year | 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 |
Avana Electrosystems IPO Valuation Metrics (FY2025)
| KPI | Value |
|---|---|
| ROE | 47.11% |
| ROCE | 53.71% |
| EBITDA Margin | 20.36% |
| PAT Margin | 13.52% |
| Debt to Equity Ratio | – |
| EPS (Basic) | ₹4.76 |
| P/E Ratio | – |
| Return on Net Worth | 38.13% |
| Net Asset Value | ₹12.48 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Danish Power Limited | 34.55 | 30.18 | 18.00% | 162.51 | 432.95 Cr |
| Aartech Solonics Limited | 0.87 | 73.86 | 8.74% | 19.80 | 39.33 Cr |
IPO Lead Manager
Indcap Advisors Pvt. Ltd.
Company Address
| Particular | Details |
|---|---|
| Company Name | Avana Electrosystems Ltd. |
| Address | No. 8, KAIDB, Plot No. 35, 1st Main Road, 2nd Phase, Peenya Industrial Area |
| Area | Nelagadaranahalli Village, Peenya Small Industries |
| City | Bangalore Metropolitan Region |
| State | Karnataka |
| PIN Code | 560058 |
| Phone | 91 80 4123 3386 |
| cs@avanaelectrosystems.com | |
| Website | https://avanaelectrosystems.com |
IPO Registrar
Integrated Registry Management Services Pvt. Ltd.
Phone: 044 – 28140801 to 28140803
Email: smeipo@integratedindia.in
Website: https://www.integratedregistry.in/RegistrarsToSTA.aspx?OD=1
Avana Electrosystems IPO FAQs
What is Avana Electrosystems IPO?
Avana Electrosystems IPO is an SME IPO through which the company plans to raise ₹35 crore. The IPO is priced at ₹56 to ₹59 per share and will be listed on NSE SME.
When will Avana Electrosystems IPO open?
The IPO will open for subscription on January 12, 2026, and will close on January 14, 2026.
What is the investor quota for Avana Electrosystems IPO?
The issue is reserved 50% for QIBs, 15% for NII investors, and 35% for retail investors.
How can investors apply for Avana Electrosystems IPO?
Investors can apply through ASBA using net banking, UPI via stockbrokers, or by submitting offline IPO application forms.
What is the lot size for Avana Electrosystems IPO?
The minimum lot size is 4,000 shares, requiring an investment of ₹2,36,000.
When is the allotment date for Avana Electrosystems IPO?
The allotment is expected to be finalised on January 15, 2026.
When will Avana Electrosystems IPO list?
The IPO is expected to list on the NSE SME platform on January 19, 2026.
Expert Comment
Avana Electrosystems IPO is backed by strong financial growth, improving margins, and high return ratios. The company operates in a niche segment of power infrastructure equipment with consistent demand.
While the higher lot size limits retail participation, long-term investors looking for exposure to electrical and power system manufacturing may find this IPO suitable after evaluating valuation comfort and overall market conditions.
