Avana Electrosystems' Initial Public Offering (IPO) opens on January 12, aiming to raise Rs 35 crore. The company plans to use the funds for expansion and working capital. The IPO is set to list on the NSE SME platform on January 19. The grey market premium (GMP) indicates optimism, with unofficial reports suggesting a Rs 24 premium per share, implying a potential listing price around Rs 83. The price band is set between Rs 56 and Rs 59 per share.