Avalon Technologies Rs 865 crore IPO

Current Context: Avalon Technologies initial public offering worth Rs 865-cr to start off on Apr 3. The company received Sebi's approval to start the initial public offering.

• The initial sale of worth Rs 865 crore of Avalon Technologies will open for public from April 3.
• The three-day initial public offering (IPO) will be closed on April 6. The company has Rs 320 crore from the fresh issuance of equity shares and through Offer For Sale (OFS)it is Rs 545 crore which will open on March 31.
• Previously, through the initial public offering, it was estimating to raise Rs 1,025 crore.
• The size of the IPO has been decreased. The reason being that Avalon industry completed a pre-IPO placement of Rs 160 crores.
• Avalon company garnered Rs 60 crore each from UNIFI Financial Private Limited and Ashoka India Equity Investment Trust Plc and Rs 40 crore from India Acorn Fund LimitediIn the pre-IPO placement.
• Avalon technologies is an electronic manufacturing service solutions provider . Its key clients area Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation .
• Across the US and India, it has 12 manufacturing plants.

Question :

Q.1  Avalon Technologies initial public offering worth _______ to start off on Apr 3.
a. 700 crore
b. 400 crore
c. 500 crore
d. 865 crore