4,463,876 Equity Shares of Avalon Technologies Limited are subject to a Lock-Up Agreement Ending on 10-JUL-2023.
July 10, 2023
Share
4,463,876 Equity Shares of Avalon Technologies Limited are subject to a Lock-Up Agreement Ending on 10-JUL-2023. These Equity Shares will be under lockup for 94 days starting from 7-APR-2023 to 10-JUL-2023.
Details:
Pursuant to regulations 14 and 16(1) of the SEBI ICDR Regulations, an aggregate of 20% that is 1,30,59,516 of the fully diluted post-offer Equity share capital of our company held by the promoters shall be locked in for a period of 18 months as minimum promotersâ contribution from the date of allotment (âpromotersâ contributionâ), and the promotersâ shareholding in excess of 20% of the fully diluted post-offer Equity share capital shall be locked-in for a period of six months from the date of allotment.
In terms of Regulation 17 of the SEBI ICDR Regulations, the entire pre-offer equity shares capital of our company that is 44,893,612 (other than the promoterâs contribution) will be locked-in for a period of six months from the date of allotment.
Avalon Technologies Limited is an India-based fully integrated electronic manufacturing services (EMS) company with end-to-end capabilities in delivering box build solutions. The Company operates globally and serves a diverse customer base. It possesses a wide range of capabilities, including printed circuit board (PCB) design and assembly, cable and wire harness manufacturing, sheet metal fabrication and machining, injection molded plastics, and magnetics. The Companyâs specialization lies in the manufacture and provision of design support for pivotal integrated assemblies, sub-assemblies, components, and enclosures across multiple industry verticals. Its other capabilities include cable assembly and wire harnesses, sheet metal fabrication, machining, magnetics and injection molded plastics. Its manufacturing facilities are located in India and in the United States. Its facilities are located in Chennai and Bangalore. Its other facilities are located in Atlanta and Fremont.