October 7, 2024
New Delhi, India
NSE SME
HVAX Technologies made a strong debut on the NSE SME on Monday, with its shares listing at ₹486, reflecting a 6% premium over the issue price of ₹458. The listing follows an impressive response to its initial public offering (IPO), which was subscribed 34.16 times by the close of the subscription period on October 1, 2024.
IPO Subscription Breakdown
The IPO witnessed substantial interest across various categories:
- Retail Category: Subscribed 26.69 times
- Qualified Institutional Buyers (QIB): Subscribed 14.02 times
- Non-Institutional Investors (NII): Subscribed 77.92 times
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for HVAX Technologies IPO was noted at ₹25, suggesting that shares were expected to list at around ₹483, 5.46% higher than the upper band of the issue price.
IPO Details and Financials
The book-built IPO of HVAX Technologies raised ₹33.53 crores through a complete new issue of 7.32 lakh shares. The company plans to utilize the proceeds for:
- Funding working capital requirements
- General corporate purposes
In terms of financial performance, HVAX Technologies reported a 12% increase in revenue and an 80% rise in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the previous year.
About HVAX Technologies
Founded in 2010, HVAX Technologies Limited specializes in offering pharmaceutical and healthcare companies turnkey solutions for the engineering, procurement, and execution of controlled environments and cleanroom infrastructure. The company also provides design, engineering, and consulting services.
Some of the products supplied by HVAX Technologies include:
- Prefabricated galvanized iron (GI) ducts
- Air handling units
- Chillers
- Building Management Systems (BMS) equipment
- Cleanroom wall and ceiling panels
- Air showers
- Electrical panels
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
