HVAX Technologies IPO day 3: GMP, subscription status & other details about the SME IPO

HVAX Technologies Day 2 Subscription Status: HVAX Technologies' Initial Public Offering (IPO) opened for subscription on Friday, September 27, looking to raise ₹34 crore through the sale of 7.32 lakh fresh equity shares.

The price band for this Small and Medium Enterprise (SME) IPO has been set between ₹435 and ₹458 per share, with investors required to bid in lots of 300 shares. The company specialises in controlled environment infrastructure and cleanrooms, serving industries like pharmaceuticals and healthcare. The IPO will remain open until October 1, with shares expected to list on October 7. The allotment is expected by October 3.

HVAX Technologies Day 3 subscription status

HVAX Technologies' IPO received a subscription of 7.63 times. By October 1, 2024, at 1:55:59 PM, the retail segment was subscribed 10.61 times, the Qualified Institutional Buyers (QIB) category saw a subscription of 2.67 times, and the Non-Institutional Investors (NII) category was subscribed 7.19 times.

HVAX Technologies IPO details

The HVAX Technologies IPO is an entirely fresh issue worth ₹33.53 crore, and the minimum investment for retail investors is ₹1,37,400 for a lot of 300 shares. High net-worth individuals (HNIs) need to apply for at least two lots (600 shares), requiring an investment of ₹2,74,800. 

Fedex Securities Pvt Ltd is the lead manager for the issue, with Kfin Technologies Ltd acting as the registrar, and Aftertrade Broking serving as the market maker.

HVAX Technologies GMP

HVAX Technologies IPO is trading at par with the issue price. The stock is neither trading at a premium (above the issue price) nor at a discount (below the issue price).

For the fiscal year ending March 2024, HVAX Technologies reported revenues of ₹106 crore and a net profit of ₹9.39 crore. The IPO proceeds will primarily be used to meet the company’s working capital requirements and for general corporate purposes.

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