HVAX Technologies share price lists with 6% premium at ₹486 on NSE SME

HVAX Technologies share price listed at ₹486 on the NSE SME on Monday, October 7, a premium of 6 per cent over the issue price of ₹458. HVAX Technologies initial public offering IPO had ended on October 1, with the issue garnering decent subscription.

The HVAX Technologies IPO was subscribed 34.16 times. The public issue had received 26.69 times bids in the retail category, 14.02 times in the qualified institutional buyer (QIB) category, and 77.92 times in the non-institutional investor (NII) category.

The IPO GMP for HVAX Technologies ahead of the listing was ₹25. This indicated that the grey market was expecting HVAX Technologies shares to list at ₹25 more than the issue price of ₹458 at ₹483, up 5.46%.

Data from Investorgain.com indicates that the GMP for the HVAX Technologies IPO fluctuated between 0 and ₹15 initially before rising to ₹25.

The book-built IPO of HVAX Technologies was valued at ₹33.53 crore. The IPO consisted entirely of a fresh issue of 7.32 lakh shares.

The company proposes to utilise the net proceeds from the issue towards the following objects: Funding the working capital requirements, and for general corporate purposes.

HVAX Technologies was founded in 2010 and offers pharmaceutical and healthcare firms turnkey engineering, procurement, and execution of controlled environment and cleanroom infrastructure, as well as design, engineering, and consulting services.

The following third-party products are supplied by the company - Prefabricated galvanized iron (GI) ducts; Air handling units; Chillers; Building Management Systems (BMS) Equipment; Cleanroom wall panels; Cleanroom ceiling panels; Covings; Riser panels; Cleanroom doors; Flooring systems; Pass boxes; Air showers; LT/HT electrical panels.

HVAX Technologies Limited's revenue increased by 12% and profit after tax (PAT) rose by 80% during the financial year ended March 31, 2024, over the financial year ended March 31, 2023.

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