The HVAX Technologies IPO is a book-built issue aiming to raise Rs 33.53 crores through the issuance of 7.32 lakh fresh equity shares. The IPO will be open for subscription from September 27, 2024, until October 1, 2024, with the allotment expected to be finalized on Thursday, October 3, 2024. The shares are slated to list on NSE SME, with the tentative listing date set for Monday, October 7, 2024.
The price band for the HVAX Technologies IPO is set at ₹435 to ₹458 per share. Investors can apply with a minimum lot size of 300 shares, requiring a retail investment of ₹137,400. High Net-Worth Investors (HNIs) will need a minimum investment of ₹274,800 for 2 lots (600 shares).
Fedex Securities Pvt. Ltd. is the lead manager for the issue, Kfin Technologies Limited is the registrar, and Aftertrade Broking is the market maker.
Below are the details of HVAX Technologies Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
Track All IPOs opening and closing today on our comprehensive list of IPO Watchlist 2024!
HVAX Technologies Limited IPO Details
| IPO Date | September 27, 2024 to October 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹435 to ₹458 per share |
| Lot Size | 300 Shares |
| Total Issue Size | 732,000 shares (aggregating up to ₹33.53 Cr) |
| Fresh Issue | 732,000 shares (aggregating up to ₹33.53 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,044,875 |
| Share holding post issue | 2,776,875 |
| Market Maker portion | 37,200 shares |
HVAX Technologies Limited IPO Timeline
| IPO Open Date | Friday, September 27, 2024 |
| IPO Close Date | Tuesday, October 1, 2024 |
| Basis of Allotment | Thursday, October 3, 2024 |
| Initiation of Refunds | Friday, October 4, 2024 |
| Credit of Shares to Demat | Friday, October 4, 2024 |
| Listing Date | Monday, October 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 1, 2024 |
HVAX Technologies Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 300 | ₹137,400 |
| Retail (Max) | 1 | 300 | ₹137,400 |
| HNI (Min) | 2 | 600 | ₹274,800 |
HVAX Technologies Limited IPO Anchor Investor
| Bid Date | September 26, 2024 |
| Shares Offered | 207,000 |
| Anchor Portion Size (In Cr.) | 9.48 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 1, 2025 |
HVAX Technologies Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 2,07,000 (28.28%) |
| Market Maker Shares Offered | 37,200 (5.08%) |
| QIB Shares Offered | 1,38,000 (18.85%) |
| NII (HNI) Shares Offered | 1,05,300 (14.39%) |
| Retail Shares Offered | 2,44,500 (33.4%) |
| Total Shares Offered | 7,32,000 (100%) |
HVAX Technologies Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 6,366.32 | 7,825.59 | 5,386.78 | |||||||||||||||||||||||||||
| Revenue | 10,746.99 | 9,613.86 | 6,879.13 | |||||||||||||||||||||||||||
| Profit After Tax | 939.07 | 520.37 | 418.15 | |||||||||||||||||||||||||||
| Net Worth | 3,059.83 | 1,720.77 | 1,200.4 | |||||||||||||||||||||||||||
| Reserves and Surplus | 2,991.67 | 1,659.08 | 1,138.71 | |||||||||||||||||||||||||||
| Total Borrowing | 2,437.29 | 1,692.21 | 1,010.03 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
HVAX Technologies Limited IPO Review
HVAX Technologies Ltd. (HTL) is a specialist in HVAC project contracting, providing turnkey solutions for controlled environment infrastructure and cleanrooms, primarily serving pharmaceutical, healthcare, FMCG, and chemical sectors. The company offers end-to-end services, including design, engineering, procurement, installation, and consultancy, with a strong presence both in India and internationally, having completed 200 projects across 15 countries. HVAX is launching its IPO to raise Rs. 33.53 crores by offering 7.32 million equity shares at a price band of Rs. 435-458 per share. The funds will primarily be used for working capital, with shares to be listed on NSE SME Emerge post-allotment. Although the company has demonstrated growth in revenue and profits, concerns around margin sustainability remain, making it a cautious investment for informed investors.