Avalon Technologies Shares Slip Nearly 6% As Founders Sell Stake: 4.1 Million Shares Change Hands
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Avalon Technologies shares slipped as 4.1 million shares, or 6% of the company’s equity, changed hands in a block deal involving the founders.
Avalon Technologies shares are in focus on Wednesday after about 4.1 million shares, or 6% of the company's equity, changed hands in a block deal on the Bombay Stock Exchange (BSE). In early trade, the stock fell as much as 5.84% to ₹2,171, while its market capitalisation dropped to around ₹15,042 crore. The deal involved the company's founders, who sold their stake.
The stock later recovered from the day's low. At 1:14 pm IST on the BSE, Avalon Technologies Ltd.’s share price was at ₹2,302.80, down 0.13%%, with the day's high at ₹2,316.55. Trading volume had risen to more than 10 times the three-month full-day average.
What Happened In Avalon Technologies' Block Deal?
Founders of Avalon Technologies sold shares through the block deal. Reports said founders, including Bhaskar Srinivasan, were looking to sell up to 50 lakh shares, equivalent to 6% of the company's outstanding equity shares.
The indicative price band for the transaction was set at ₹2,150–₹2,302, against Tuesday's closing price of ₹2,302. The offer size was pegged at ₹860–₹920 crore. Nomura Financial Advisory and Securities India was managing the deal.
The large-volume transaction came as the stock touched its lowest level since 16 September during Wednesday's session.
How Has Avalon Technologies Stock Performed?
Despite Wednesday's selling pressure, Avalon Technologies has delivered a sharp rise across longer periods. The stock has climbed 144% in six months and 157% so far this year. Over two years, it has risen 290%.
The stock's Relative Strength Index (RSI) stood at 52.7, indicating that it was neither in the overbought nor oversold zone on the charts.
Avalon Technologies Ltd provides integrated Electronics Manufacturing Services (EMS), with a focus on high-complexity products and complete box-build solutions.
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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