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 promoters’ contribution from the date of allotment (“promoters’ contribution”), and the promoters’ 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 promoter’s contribution) will be locked-in for a period of six months from the date of allotment.