The Avana Electrosystems IPO concluded today, January 14, 2026, witnessing significant investor interest. The IPO, which opened on January 12, 2026, aimed to raise approximately ₹35.22 crore through a fresh issue of 51,76,000 shares and an offer for sale of 7,94,000 shares.
Subscription Status
The issue has received an overwhelming response, being subscribed 38.9 times by the end of the final day. Preliminary data indicates strong interest across all investor categories. By January 13, 2026, the IPO had already been subscribed 21.25 times overall. Retail investors led the subscription with 27.87 times, followed by Non-Institutional Buyers (NII). Within the NII category, the bHNI (high-net-worth individuals with investments exceeding ₹10 lakhs) segment was subscribed 33.78 times, and the sHNI segment (high-net-worth individuals with investments below ₹10 lakhs) saw a subscription of 25.85 times. Qualified Institutional Buyers (QIB) showed a more measured response, subscribing 2.00 times. However, employee category remained unsubscribed.
The strong subscription numbers indicate robust market confidence in Avana Electrosystems and reflect positive sentiment among various investor segments. The company received bids for 8,59,92,000 shares against 39,80,000 shares on offer.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Avana Electrosystems IPO has shown positive trends, reflecting expectations of a healthy listing. As of January 13, 2026, the GMP was trading around ₹16 per share, suggesting an estimated listing premium of approximately 27.29% over the upper price band. Some reports indicated a GMP of ₹13-₹14 per share, indicating a 23-24% premium. With the IPO price fixed between ₹56 and ₹59, the estimated listing price could be around ₹75.10. It's important to note that GMP is an unofficial market indicator and is subject to change based on market sentiment.
About Avana Electrosystems
Established in 2010, Avana Electrosystems Limited specializes in manufacturing customized control and relay panels. The company's product portfolio includes a wide range of panels and relays, including Indoor Type Control and Relay Panels, Numerical Protection Relays, and Substation Automation Panels. These products are crucial for monitoring, controlling, and protecting power systems in various applications such as power transmission lines, transformers, and substations. The company operates two manufacturing units in Bengaluru, Karnataka.
Financial Performance and IPO Details
Avana Electrosystems has demonstrated consistent financial growth in recent years. The company's revenue increased by 18% from ₹53.26 crore in March 2024 to ₹62.93 crore in March 2025. During the same period, its profit after tax (PAT) increased by 107%, from ₹4.02 crore to ₹8.31 crore. For the fiscal year 2025, Avana Electrosystems reported strong profitability metrics, including a return on equity (ROE) of 47.11%, a return on capital employed (ROCE) of 53.71%, and a PAT margin of 13.52%.
The IPO price band was set at ₹56 to ₹59 per share, with a face value of ₹10. A lot size for application was 2,000 shares. The IPO aimed to support the company's expansion of manufacturing capabilities and meet working capital requirements.
Allotment and Listing
The allotment for the Avana Electrosystems IPO is expected to be finalized on January 15, 2026. Allotted shares will be credited to demat accounts by January 16, 2026, and the company is scheduled to list on the NSE SME platform on January 19, 2026.
