Avalon Technologies Ltd Share Price

History of Avalon Technologies Ltd

Avalon Technologies Limited was incorporated as 'Avalon Technologies Private Limited', at Chennai on November 3, 1999. Subsequently, name of the Company was changed to Avalon Technologies Limited and a fresh Certificate of Incorporation on July 29, 2022 was issued by the ROC. The Company started in 1999 at Chennai as a pure play Printed Circuit Board (PCB) assembler and became vertically integrated to include multiple offerings including PCB assembly, cable assembly and wire harnesses, sheet metal fabrications and machining, injection molded plastics, magnetics components and delivering end-to-end box build. The Company is engaged in providing Electronics Manufacturing Services (EMS) with capabilities in printed circuit board assembly, custom cable and wire harnesses, etc. It provid ...e a full stack product and solution suite, right from PCB design and assembly to the manufacture of Box Build, to certain global OEMs, including OEMs located in the United States, China, Netherlands and Japan. It specialize in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals. Apart from these, the Company has a unique global delivery model, comprising design and manufacturing capabilities across both India and the United States. It has 12 manufacturing units located across the United States and India: 1 unit in Atlanta, Georgia, 1 unit in Fremont, California, 7 units in Chennai, Tamil Nadu, 1 unit in Kanchipuram, Tamil Nadu and 2 units in Bengaluru, Karnataka. With these units, the Company benefited from leveraging manufacturing cost arbitrage, through facilities located in India, for the global market. Each of their manufacturing facilities integrates manufacturing, warehousing and logistics. The electronic manufacturing facilities comprise an aggregate of 65 production lines, consisting of ten SMT lines, 12 THT lines and 43 assembly lines. The Company has separate lines for sheet metal fabrication, machining, cable assembly and wire harnesses, magnetics and plastics. The Company commenced operations at manufacturing facility established at Pillaipakkam for the fabrication in 2020. In April 2023, the Company made an Initial Public Offer of 19,839,446 Equity Shares by raising funds aggregating to Rs 865 Crore, comprising a fresh issue of 7,339,449 Equity Shares aggregating to Rs 320 Crore and Offer for Sale of 12,499,997 Equity Shares aggregating to Rs 545 Crore. Company enhanced the Dual-Shore Manufacturing Model by commissioning of a new export-focussed facility in Chennai in FY 2025. It began on two additional facilities - one to serve growing domestic demand and the other focussed on exports.