Avalon Technologies shares list at 1% discount to issue price
The Rs 865-crore initial share sale received a tepid response for the first two days, but sailed through on the last day, thanks to strong interest from qualified institutional buyers (QIBs). The overall subscription of the issue was 2.21 times at close. The QIB portion was subscribed 3.57 times and retail investors’ portion 84%. Non-institutional bidders showed the least interest in the issue with just 41% subscription.
