About Company

• Avalon Technologies Limited (“Avalon Technologies”) was incorporated on November 3, 1999. Avalon Technologies is one of the leading fully integrated Electronic Manufacturing Services (“EMS”) companies with end-to-end capabilities in delivering box build solutions in India in terms of revenue in Fiscal 2022, with a focus on high value precision engineered products. They provide a full stack product and solution suite, right from printed circuit board (“PCB”) design and assembly to the manufacture of complete electronic systems (“Box Build”), to certain global original equipment manufacturers (“OEMs”), including OEMs located in the United States, China, Netherlands, and Japan.  
• Company’s capabilities include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection moulded plastics and end-to-end box build of electronic systems. They specialize in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals.
• Avalon Technologies has a unique global delivery model, comprising design and manufacturing capabilities across both India and the United States. Avalon Technologies is the only Indian EMS company with full-fledged manufacturing facilities in the United States, which gives them a unique competitive advantage in the North American markets.  
• They have 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,  
              2 units in Bengaluru, Karnataka.  

• Their electronic manufacturing facilities comprise an aggregate of 66 production lines, consisting of 11 Surface Mount Technology (“SMT”) lines, 12 Through Hole Technology (“THT”) lines and 43 assembly lines.

Strengths

• End-to-end integrated solutions, providing a “One Stop Shop” for electronics and electro-mechanical design and manufacturing services;
• High entry barriers to business through the collective cross-industry experience, customer engagement capabilities and leading position in the high mix flexible volume product manufacturing segment;
• Well-diversified business leading to strong growth avenues;
• Established relationships with marquee customer base;
• Global delivery footprint with high quality standards and advanced manufacturing and assembly capabilities;
• Strong financial performance, stable cash flows and visible growth profile;
• Experienced board, management and operating team.        

Company Promoters

Company Financials

Objects of the Issue

The Company proposes to utilize the Net Proceeds towards funding the following objects:

1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and one of the Material Subsidiaries, i.e. Avalon Technology and Services Private Limited (ATSPL);
2. Funding the working capital requirements of the Company;
3. General corporate purposes.