Avana Electrosystems IPO was launched through the Book Built SME route by Avana Electrosystems Limited. The public issue comprised a combination of a fresh issue of equity shares and an Offer for Sale (OFS) by existing shareholders. The company planned to utilise the fresh issue proceeds for expanding its manufacturing infrastructure, meeting working capital requirements, and supporting general corporate purposes, while the Offer for Sale allowed eligible shareholders to partially reduce their holdings. Upon completion of the issue process, the company’s equity shares were listed on the NSE SME platform.
Avana Electrosystems Limited is engaged in the design, engineering, manufacturing, and supply of electrical control panels, relay panels, protection systems, and automation solutions used across power transmission, power distribution, renewable energy, industrial automation, and infrastructure projects. Its products are supplied to utility companies, engineering contractors, industrial customers, and organisations requiring reliable electrical protection and control equipment.
The company operates integrated manufacturing facilities where various stages of production are carried out, including engineering design, fabrication, assembly, wiring, testing, inspection, and quality assurance. By maintaining systematic manufacturing processes and quality control standards, the company aims to deliver products that meet customer specifications and applicable industry requirements.
Avana Electrosystems continues to focus on strengthening its engineering capabilities, expanding manufacturing capacity, adopting advanced production technologies, and improving operational efficiency. The company also invests in product development, skilled manpower, and quality management systems to support sustainable business growth and improve customer satisfaction.
India’s power transmission, power distribution, industrial automation, and renewable energy sectors continue to witness significant investment due to expanding infrastructure, rising electricity demand, industrial development, and smart grid initiatives. These factors are expected to support long-term demand for electrical control and protection equipment across multiple industries.
Since the IPO has already been completed and the company’s shares are listed on the stock exchange, investors should carefully evaluate the company’s financial performance, engineering expertise, operational efficiency, competitive position, valuation, and long-term business prospects before making any investment decision.
Avana Electrosystems IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Avana Electrosystems IPO |
| Company Name | Avana Electrosystems Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹56 to ₹59 Per Share |
| Issue Size | ₹35.22 Crore |
| Fresh Issue | 51,76,000 Equity Shares |
| Offer for Sale | 7,94,000 Equity Shares |
| Total Issue Size | 59,70,000 Equity Shares (₹35.22 Crore) |
| IPO Open Date | 12 January 2026 |
| IPO Close Date | 14 January 2026 |
| Basis of Allotment | 15 January 2026 |
| Refund Initiation | 16 January 2026 |
| Shares Credited to Demat Account | 16 January 2026 |
| Listing Date | 19 January 2026 |
| Listing Exchange | NSE SME |
| Lot Size | 2,000 Equity Shares |
| Registrar | MUFG Intime India Private Limited |
| Book Running Lead Manager | Indorient Financial Services Limited |
The public issue consisted of both a fresh issue of equity shares and an Offer for Sale by existing shareholders. The proceeds from the fresh issue were intended to strengthen manufacturing infrastructure, support working capital requirements, and fund general corporate activities, while the Offer for Sale enabled existing shareholders to partially monetise their investment.
Avana Electrosystems IPO Dates
The key events relating to the Avana Electrosystems IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 12 January 2026 |
| IPO Closing Date | 14 January 2026 |
| Basis of Allotment | 15 January 2026 |
| Refund Initiation | 16 January 2026 |
| Shares Credited to Demat Account | 16 January 2026 |
| Listing Date | 19 January 2026 |
Following the completion of the allotment process, successful applicants received the allotted equity shares in their demat accounts before trading commenced on the NSE SME platform. Applicants who did not receive an allotment were issued refunds according to the prescribed IPO schedule.
Avana Electrosystems IPO Reservation
The equity shares offered through the public issue were reserved for different categories of investors in accordance with the applicable SME IPO regulations.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category depended on the number of valid applications received during the subscription period and the applicable regulatory framework governing SME public issues.
Avana Electrosystems IPO Lot Size
Applications for the IPO were accepted only in the prescribed lot size announced before the issue opened for subscription.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (2,000 Shares) | ₹1,18,000 |
| Retail Maximum | 2 Lots (4,000 Shares) | ₹2,36,000 |
| HNI Minimum | 3 Lots (6,000 Shares) | ₹3,54,000 |
The investment values shown above are calculated using the upper price band of ₹59 per equity share. Investors were required to submit IPO applications in multiples of the prescribed lot size.
About Avana Electrosystems Limited
Avana Electrosystems Limited is an Indian engineering and manufacturing company engaged in the design, development, manufacturing, and supply of electrical control panels, protection relay panels, automation systems, and power distribution solutions. The company’s products are used across power transmission, power distribution, renewable energy, industrial automation, infrastructure, manufacturing facilities, and utility projects. It serves government organisations, engineering companies, industrial customers, EPC contractors, and private sector enterprises by providing customised electrical solutions designed to meet project-specific requirements.
The company operates integrated manufacturing facilities where engineering, fabrication, assembly, wiring, testing, quality inspection, and final dispatch are carried out under systematic production processes. Its manufacturing capabilities enable the company to develop customised electrical panels and automation systems that comply with technical specifications while maintaining quality, reliability, and operational safety.
Over the years, Avana Electrosystems Limited has strengthened its engineering expertise by investing in manufacturing infrastructure, skilled manpower, modern equipment, and quality management systems. The company continues to focus on improving operational efficiency, expanding its product portfolio, and delivering reliable electrical solutions that support long-term business growth.
Business Operations
Avana Electrosystems Limited operates across multiple segments of the electrical engineering and industrial automation industry.
- Control Panel Manufacturing – The company manufactures electrical control panels for industrial, commercial, and infrastructure applications.
- Protection Relay Panels – It designs and manufactures relay protection systems used in power transmission and distribution networks.
- Automation Solutions – The company develops automation panels and control systems for industrial facilities and utility projects.
- Power Distribution Equipment – It supplies electrical distribution panels and related equipment for power infrastructure projects.
- Custom Engineering Solutions – The company manufactures customised electrical systems based on customer specifications and project requirements.
- Engineering and Design Services – Product development includes electrical design, engineering analysis, system integration, and technical documentation.
- Manufacturing and Assembly – Production activities include fabrication, assembly, wiring, component integration, testing, inspection, and commissioning support.
- Quality Assurance and Testing – Products undergo multiple stages of inspection and testing to ensure compliance with applicable technical and safety standards.
- Project Execution Support – The company provides technical assistance and coordination during project implementation to support customers throughout installation and commissioning.
- Customer Service – Ongoing technical support, maintenance guidance, and after-sales services help strengthen long-term customer relationships.
Industry Overview
India’s electrical equipment and industrial automation industry continues to expand with increasing investments in power transmission, power distribution, renewable energy, manufacturing, transportation, smart grid development, and infrastructure projects. Rising electricity demand and continuous industrial development are creating sustained opportunities for manufacturers of electrical control and protection equipment.
The increasing adoption of automation technologies, digital monitoring systems, and modern electrical infrastructure has accelerated demand for advanced control panels, relay protection systems, and integrated electrical solutions across multiple industries. Government initiatives supporting infrastructure development and renewable energy expansion are also expected to contribute to long-term industry growth.
The industry continues to adopt advanced engineering technologies, automation, digital control systems, and stringent quality standards. Companies with strong engineering capabilities, integrated manufacturing facilities, diversified product offerings, and efficient project execution are well positioned to benefit from the continued expansion of India’s electrical infrastructure sector.
Business Strategy
Avana Electrosystems Limited aims to strengthen its position in the electrical engineering industry by expanding manufacturing capacity, improving engineering capabilities, and broadening its portfolio of electrical control and automation solutions. The company continues to invest in advanced manufacturing technologies, process optimisation, quality improvement initiatives, and product development to support future growth.
The management also focuses on strengthening relationships with utility companies, EPC contractors, industrial customers, and infrastructure developers while improving operational efficiency and maintaining high manufacturing standards. Continuous investment in engineering expertise, manufacturing infrastructure, and customer-focused solutions remains an important part of the company’s long-term growth strategy.
By combining engineering expertise, integrated manufacturing capabilities, quality-driven operations, and customised electrical solutions, Avana Electrosystems Limited aims to strengthen its presence in the electrical equipment industry while achieving sustainable long-term business growth.
Avana Electrosystems IPO Financial Information
A company’s financial performance provides valuable insights into its revenue growth, profitability, operational efficiency, and financial stability. Reviewing financial statements over multiple financial years helps investors understand how effectively the company generates income, manages expenses, and utilises capital. Financial performance should always be assessed together with the company’s business model, industry outlook, valuation, and future growth strategy before making an investment decision.
Avana Electrosystems Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹118.74 Crore | ₹154.82 Crore | ₹205.67 Crore |
| Total Income | ₹119.65 Crore | ₹156.03 Crore | ₹207.14 Crore |
| EBITDA | ₹15.32 Crore | ₹21.84 Crore | ₹30.15 Crore |
| Profit Before Tax (PBT) | ₹10.47 Crore | ₹15.26 Crore | ₹22.36 Crore |
| Profit After Tax (PAT) | ₹7.82 Crore | ₹11.38 Crore | ₹16.72 Crore |
| Net Worth | ₹28.41 Crore | ₹39.26 Crore | ₹55.84 Crore |
| Total Borrowings | ₹16.53 Crore | ₹14.48 Crore | ₹12.36 Crore |
Avana Electrosystems Limited has reported consistent financial growth during the last three financial years. The company recorded steady increases in revenue, profitability, and net worth while maintaining manageable borrowings. Investors should evaluate these financial results together with the company’s engineering capabilities, order book, operational efficiency, and long-term business strategy before making an investment decision.
Avana Electrosystems IPO Key Performance Indicators (KPIs)
Key financial ratios provide additional insight into the company’s profitability, operational efficiency, capital utilisation, and financial strength. These indicators help investors evaluate the company’s financial position and overall valuation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 29.94% |
| Return on Capital Employed (ROCE) | 35.18% |
| Return on Net Worth (RONW) | 29.94% |
| EBITDA Margin | 14.56% |
| PAT Margin | 8.07% |
| Debt-to-Equity Ratio | 0.22 |
| Earnings Per Share (EPS) | ₹8.86 |
| Net Asset Value (NAV) Per Share | ₹29.54 |
| Price to Earnings (P/E) | 6.66x |
The financial ratios indicate healthy profitability, efficient utilisation of capital, and a balanced financial position. Strong return ratios and controlled debt strengthen the company’s financial profile. However, investors should analyse these indicators together with the company’s valuation, competitive position, execution capabilities, and future growth opportunities before making an investment decision.
Objects of the Avana Electrosystems IPO
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Establishing an integrated manufacturing facility.
- Meeting working capital requirements.
- General corporate purposes.
The proposed utilisation of the IPO proceeds is expected to strengthen manufacturing infrastructure, improve production capacity, support day-to-day business operations, and enhance overall operational efficiency. These initiatives are intended to support long-term business expansion while strengthening the company’s competitive position in the electrical engineering industry.
Avana Electrosystems IPO Listing Performance
The listing performance reflects how the company’s shares performed on the stock exchange on the first day of trading after the IPO process was completed. While listing gains or discounts provide an indication of initial market sentiment, long-term returns depend on the company’s financial performance, engineering capabilities, project execution, operational efficiency, and future growth prospects.
| Particular | Value |
|---|---|
| Listing Exchange | NSE SME |
| Listing Date | 19 January 2026 |
| Issue Price | ₹59 Per Share |
| Listing Price | ₹70.80 Per Share |
| Listing Gain | ₹11.80 Per Share |
| Listing Gain (%) | 20.00% |
Avana Electrosystems Limited made a positive debut on the NSE SME platform by listing at a premium over its issue price. The listing reflected healthy investor participation during the public issue. However, the company’s long-term market performance will depend on its ability to expand operations, execute projects efficiently, maintain profitability, and strengthen its position within the electrical engineering and automation industry.
Avana Electrosystems IPO Subscription Status
The subscription figures indicate the level of investor participation during the IPO bidding period. Although strong subscription generally reflects favourable market interest, investors should also consider the company’s financial performance, valuation, engineering capabilities, and long-term business outlook before making an investment decision.
Avana Electrosystems IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 56.41 Times |
| Non-Institutional Investors (NII) | 148.26 Times |
| Retail Individual Investors (RII) | 102.37 Times |
| Total Subscription | 97.58 Times |
The IPO received strong demand across all investor categories. The Non-Institutional Investor segment recorded the highest subscription, while Retail Individual Investors and Qualified Institutional Buyers also subscribed to the issue multiple times. The overall subscription reflected broad investor confidence in the public offering.
Avana Electrosystems IPO Review
Avana Electrosystems Limited operates in the electrical engineering and industrial automation industry by manufacturing control panels, relay protection systems, electrical automation solutions, and power distribution equipment. Its products are supplied to power utilities, industrial facilities, EPC contractors, renewable energy projects, and infrastructure developments requiring reliable electrical control and protection systems.
The company follows an integrated business model covering engineering design, fabrication, assembly, testing, quality assurance, and commissioning support. Continuous investment in manufacturing infrastructure, engineering expertise, and product development has enabled the company to expand its operational capabilities while serving customers across multiple industries.
From a financial perspective, the company has reported consistent growth in revenue, profitability, and net worth over recent financial years. The proposed utilisation of IPO proceeds towards establishing an integrated manufacturing facility, strengthening working capital, and supporting general corporate activities is expected to improve production capacity and operational efficiency.
However, investors should also consider factors such as project execution risks, dependence on capital expenditure in the power and infrastructure sectors, fluctuations in raw material prices, increasing competition, and customer concentration before making an investment decision.
Overall, Avana Electrosystems Limited operates in a sector supported by continued investment in power infrastructure, industrial automation, renewable energy, and electrical engineering. Investors should carefully evaluate the company’s financial performance, valuation, execution capabilities, operational efficiency, and long-term growth prospects before considering an investment.
Avana Electrosystems IPO Strengths
Avana Electrosystems Limited has established its business through engineering expertise, integrated manufacturing capabilities, and a diversified portfolio of electrical control and automation solutions.
- Experienced manufacturer of electrical control panels and protection systems.
- Integrated engineering, manufacturing, testing, and quality assurance capabilities.
- Diversified customer base across power, infrastructure, industrial, and renewable energy sectors.
- Consistent growth in revenue and profitability over recent financial years.
- Focus on customised engineering solutions and quality-driven manufacturing.
- Benefits from increasing investment in India’s power and industrial infrastructure.
Avana Electrosystems IPO Risk Factors
Like other companies operating in the electrical engineering industry, Avana Electrosystems Limited is exposed to several operational and industry-related risks that investors should evaluate carefully.
- Delays in project execution may affect revenue recognition and profitability.
- Dependence on investments in power, infrastructure, and industrial sectors could influence business growth.
- Fluctuations in raw material prices may impact operating margins.
- Increasing competition within the electrical equipment and automation industry may affect market share.
- Customer concentration may expose the company to revenue fluctuations if major clients reduce procurement.
- Economic slowdowns or reduced industrial capital expenditure could impact future order inflows and financial performance.
Avana Electrosystems IPO Promoters
Avana Electrosystems Limited is promoted by experienced professionals with expertise in electrical engineering, industrial automation, manufacturing, and business management. The promoters have played a significant role in expanding the company’s engineering capabilities, strengthening manufacturing operations, and building long-term relationships with customers across the power and industrial sectors. Their focus remains on sustainable growth, technological advancement, operational excellence, and customer-centric solutions.
Avana Electrosystems IPO Promoters Details
| Promoter | Designation |
|---|---|
| Anil Kumar Gupta | Promoter & Managing Director |
| Vandana Gupta | Promoter & Whole-Time Director |
Avana Electrosystems IPO Management Team
The company is managed by professionals with experience in engineering, manufacturing, finance, operations, project execution, and corporate compliance. The management team focuses on improving operational efficiency, expanding manufacturing capabilities, maintaining quality standards, and supporting long-term business growth.
| Name | Designation |
|---|---|
| Anil Kumar Gupta | Managing Director |
| Vandana Gupta | Whole-Time Director |
| Rajesh Kumar | Chief Financial Officer |
| Pooja Sharma | Company Secretary & Compliance Officer |
Avana Electrosystems IPO Registrar Details
The registrar managed the IPO application process, finalised the basis of allotment, credited shares to successful applicants, initiated refunds where applicable, and handled investor-related services during the public issue.
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Private Limited |
| Website | https://in.mpms.mufg.com |
| IPO Allotment Status | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
| Email ID | [email protected] |
| Contact Number | +91-22-4918 6270 |
Avana Electrosystems IPO Lead Manager Details
The Book Running Lead Manager coordinated the IPO process, ensured regulatory compliance, managed issue-related activities, and assisted the company throughout the public offering and listing process.
| Particular | Details |
|---|---|
| Lead Manager | Indorient Financial Services Limited |
| Website | https://www.indorient.in |
| Email ID | [email protected] |
| Contact Number | +91-22-4286 1400 |
Avana Electrosystems Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Avana Electrosystems Limited |
| Registered Office | Noida, Uttar Pradesh, India |
| Website | https://www.avanaelectrosystems.com |
| Email ID | [email protected] |
How to Check Avana Electrosystems IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised through the registrar’s website or the NSE IPO portal.
Through MUFG Intime India Private Limited
- Visit the official IPO allotment portal of MUFG Intime India Private Limited.
- Select Avana Electrosystems IPO from the list of available IPOs.
- Choose any one of the available search options such as Application Number, PAN, or DP/Client ID.
- Enter the required details in the respective field.
- Click on Submit to view the allotment status.
Through NSE
- Visit the official NSE IPO allotment page.
- Select Avana Electrosystems IPO from the list of available IPOs.
- Enter your Application Number or PAN Number.
- Complete the verification process.
- Click on Submit or Search to check your allotment status.
Frequently Asked Questions (FAQs)
What is the Avana Electrosystems IPO?
Avana Electrosystems IPO was a Book Built SME public issue comprising a fresh issue of equity shares and an Offer for Sale (OFS).
What was the price band of the Avana Electrosystems IPO?
The IPO was offered at a price band of ₹56 to ₹59 per equity share.
What was the issue size of the Avana Electrosystems IPO?
The total issue size of the IPO was ₹35.22 Crore.
When did the Avana Electrosystems IPO open and close?
The IPO opened for subscription on 12 January 2026 and closed on 14 January 2026.
On which stock exchange are Avana Electrosystems shares listed?
The company’s equity shares are listed on the NSE SME platform.
Who was the registrar for the Avana Electrosystems IPO?
MUFG Intime India Private Limited acted as the registrar to the issue.
Who was the Book Running Lead Manager for the Avana Electrosystems IPO?
The IPO was managed by Indorient Financial Services Limited as the Book Running Lead Manager.
What was the minimum lot size for the Avana Electrosystems IPO?
The minimum application size was 1 lot comprising 2,000 equity shares.
What does Avana Electrosystems Limited do?
The company designs, manufactures, and supplies electrical control panels, protection relay systems, automation solutions, and power distribution equipment for power, industrial, infrastructure, and renewable energy projects.
What were the objectives of the Avana Electrosystems IPO?
The company proposed to utilise the proceeds from the fresh issue for establishing an integrated manufacturing facility, meeting working capital requirements, and funding general corporate purposes.
