32,393,615 Equity Shares of Avalon Technologies Limited are subject to a Lock-Up Agreement Ending on 12-OCT-2023. These Equity Shares will be under lockup for 188 days starting from 7-APR-2023 to 12-OCT-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.