Avon Weighing Systems Limited IPO

Incorporated in 1999, Avon Weighing Systems Limited engaged in the business of selling weighing systems in India. Avon is classified as small scale industry. Avon is the authorized dealer and one of the distributors of A&D and Tanita’s weighing systems in India.

A&D is the third largest manufacturer of weighing systems in the world and they manufactures Analytical balances, Precision industrial balances, Moisture meters, Laboratory balances, Jewellery scales, Table top balances, Platform scales, Compact scales, Load cells, Weighing indicators and Viscosity meter etc. TANITA Corporation is one of the largest manufacturers for personal weighing scales, Mechanical/Digital bathroom & body fat monitor/scales, digital baby scale, professional fitness products - body composition analyzers/scales, etc.

Currently, they have manufacturing plant in Baddi (H.P.) where Avon manufactures the compact scales, platform scales, weighbridge & Tablet Calculation Systems- Auto Feeders with SQC software. They are mainly focusing into the industries like jewellery, Fitness centers, Hospitals, Clinics, Hotels & Shopping Malls.

Avon's clients are:

1. Sports Fuel
2. Larsen & Toubro Limited
3. Pantaloon Retail (India) Ltd
4. Rusan Pharma Ltd
5. Glenmark Pharmaceuticals Ltd
6. Godrej Industries Ltd
7. Reliance Life Sciences Pvt Ltd, etc.

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to:
1. Setting-up a full fledged manufacturing facility for indigenous manufacture of a particular range of weighing systems;
2. Setting-up furniture & fixtures at factory, corporate office & showrooms;
3. Setting-up computers and software and SAP systems;
4. Contingency Provision;
5. To meet the working capital requirement;
6. To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges;
7. General corporate purposes.

Avon Weighing Systems Ltd IPO Information

»» Public Issue Open: June 09, 2008 to June 12, 2008
»» Public Issue Type: Fixed price
»» Public Issue Size: 98,36,400 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 10/-
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE
»» Lead Manager: Keynote Corporate Services Ltd
»» Registrar: Datamatics Financial Services Ltd (Ph: +91-22-66712151 Email: dnyanesh_gharote@vsnl.com)