Avana Electrosystems
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹56 – ₹59
Lot Size
2000
₹1,18,000
Face Value
₹10
Listing Price
₹77.5
Important Dates
Open Date
12 Jan 2026
Close Date
14 Jan 2026
Allotment
15 Jan 2026
Refund
16 Jan 2026
Listing
20 Jan 2026
About Company
Incorporated in 2010, Avana Electrosystems Limited is engaged in manufacturing of customised Control and Relay Panels.
The company offers Control and Relay Panels ranging from 11kV to 220kV for power system monitoring, control and protection applications for transmission lines, power transformers, bus bars, capacitor banks and related systems for both indoor and outdoor usage.
The product portfolio also includes MV and LV panels, protection relays and substation automation systems.
The company operates two manufacturing units in Peenya Industrial Estate, Bengaluru, Karnataka, specializing in industrial production and advanced engineering solutions.
As on August 31, 2025, the company had 129 employees.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Capital expenditure towards civil construction, internal electric work and internal plumbing to set up an integrated manufacturing unit. | ₹11.55 |
| 2 | To meet working capital requirements of the company. | ₹8.6 |
| 3 | General corporate purposes. | ₹4.57 |
Financial Performance
Share Reservations
QIB
28,18,000
Anchor
16,90,000
NII
8,64,000
Retail
19,88,000
Employee
0
Total
59,70,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Strong Long-term Operational History
Avana Electrosystems has been in operation for over 15 years, establishing deep-rooted relationships with a wide customer base that includes state electricity distribution companies and private industrial conglomerates.
Impact: HighNiche Expertise in Power Protection
The company possesses specialized technical expertise in Protection Relay development and Control & Relay panel manufacturing, which serves as a significant competitive entry barrier.
Impact: HighSignificant Manufacturing Capacity Utilization
The company demonstrated high operational efficiency at its 'Unit 1' facility, achieving a capacity utilization rate of 94.50% in FY 2025, up significantly from 39.91% in FY 2023.
Impact: HighStrategic Transition to Public Limited Company
The company successfully converted from a private limited entity to a public limited company in December 2024 to facilitate its listing on the NSE EMERGE platform and access capital markets.
Impact: HighDiversified Customer and Revenue Base
By serving both power utilities and private industrial conglomerates across India, the company effectively mitigates sector-specific risks and leverages growth opportunities in the broader energy sector.
Impact: HighSWOT Analysis
AI-generated strategic view
Strengths
- •Strong customer relationships and wide customer base.
- •Ability to offer customised solutions across multiple product lines.
- •Quality standard certifications and robust quality testing processes.
- •Experienced promoters and senior management team.
- •Geographical reach through operations and clients across regions.
Weaknesses
- •Relatively small scale of operations compared to large power equipment players.
- •Dependence on the power sector capex cycle for order inflows.
- •Working capital intensive nature of operations given project-based business.
Opportunities
- •Growing investments in transmission and distribution infrastructure in India.
- •Increasing demand for substation automation and advanced protection systems.
- •Opportunity to expand capacity through the proposed integrated manufacturing unit.
- •Potential to deepen relationships with existing customers and enter new geographies.
Threats
- •Competition from larger established players and other SME manufacturers.
- •Fluctuations in raw material prices impacting margins.
- •Delays in government and utility projects affecting order execution.
- •Regulatory or policy changes in the power sector.
Avana Electrosystems IPO Peer Comparison
The table below shows peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Avana Electrosystems Ltd. | 4.76 | 4.76 | 12.48 | 38.13 | 0 | Consolidated |
| Danish Power Ltd. | 34.55 | 34.55 | 162.51 | 22.07 | 18 | Consolidated |
| Aartech Solonics Ltd. | 0.87 | 0.87 | 19.8 | 66.86 | 8.74 | Consolidated |
Avana Electrosystems - Documents & Links
Registrar
Integrated Registry Management Services Pvt.Ltd.
Contact: 04428140801, 04428140802, 04428140803
smeipo@integratedindia.inWebsiteCompany contact
Avana Electrosystems Ltd.
Address: No: 8, KAIDB, Lot No. 35, 1st Main Road, 2nd Phase, Peenya Industrial Area, Nelagadaranahalli Village, Peenya Small Industries, Bangalore Metropolitan Region, Karnataka, 560058
cs@avanaelectrosystems.comhttps://avanaelectrosystems.com/Lead managers
Frequently Asked Questions
Common questions about Avana Electrosystems IPO.