EMS Firm Avalon Technologies to Issue IPO Next Week
CHENNAI, INDIA -- Avalon Technologies, an Indian EMS provider, will go public next week with shares made available starting Apr. 3.
Avalon is a fully integrated electronics manufacturing company formed in Fremont, CA, in 1995. The company now has 12 manufacturing units located across the US and India and employs more than 2,000 workers. It performs PCB design and engineering, SMT assembly, cable and wire harness assembly, sheet metal fabrication, machining, and plastic injection molding.
Its markets include medical, telecommunication, railways, power, aerospace & defense and industrial. Key customers include Kyosan India, Zonar Systems, Collins Aerospace and eInfochips, among others.
For the period ended November 2022, the company recorded revenue of Rs 584 crore ($71.2 million) and profit after tax of Rs 34 crore ($4.14 million).
Avalon is part of the Sienna Group.
1.0 INR = 0.01218 USD
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