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HVAX Technologies IPO is a book built issue of Rs 33.53 crores. The issue is entirely a fresh issue of 7.32 lakh shares.
HVAX Technologies IPO opens for subscription on September 27, 2024 and closes on October 1, 2024. The allotment for the HVAX Technologies IPO is expected to be finalized on Thursday, October 3, 2024. HVAX Technologies IPO will list on NSE SME with tentative listing date fixed as Monday, October 7, 2024.
HVAX Technologies IPO price band is set at ₹435 to ₹458 per share. The minimum lot size for an application is 300 Shares. The minimum amount of investment required by retail investors is ₹137,400. The minimum lot size investment for HNI is 2 lots (600 shares) amounting to ₹274,800.
Fedex Securities Pvt Ltd is the book running lead manager of the HVAX Technologies IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for HVAX Technologies IPO is Aftertrade Broking.
Refer to HVAX Technologies IPO RHP for detailed information.
| 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 Aftertrade Broking |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
HVAX Technologies IPO raises Rs 9.48 crore from anchor investors. HVAX Technologies IPO Anchor bid date is September 26, 2024. HVAX Technologies IPO Anchor Investors list
| 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 IPO opens on September 27, 2024, and closes on October 1, 2024.
| 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 |
Investors can bid for a minimum of 300 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 300 | ₹137,400 |
| Retail (Max) | 1 | 300 | ₹137,400 |
| HNI (Min) | 2 | 600 | ₹274,800 |
| Lot Size Calculator | |||
Nirbhaynarayan Singh and Prayagdatt Mishra are the company's promoters.
| Share Holding Pre Issue | 90.50% |
| Share Holding Post Issue | 66.65% |
Established in 2010, HVAX Technologies Limited provides turnkey engineering, procurement, and execution of controlled environment and cleanroom infrastructure, design, engineering, and consulting services to pharmaceutical and healthcare companies.
The company supplies the following products manufactured by third parties: - Cleanroom wall panels, Cleanroom ceiling panels, Covings, Riser panels, Cleanroom doors, Flooring systems, Pass boxes, Air showers, LT/HT electrical panels, Pre-fabricated galvanized iron (GI) ducts, Air handling units, Chillers, Building Management Systems (BMS) Equipment, Utility generation and distribution Equipment.
The company's customers include pharmaceutical companies, chemical companies, hospitals, healthcare companies, and FMCG companies. HVAX Technologies has completed around 200 projects in India and in 15 countries, namely Algeria, Ethiopia, the United Arab Emirates, Ghana, Kenya, Nepal, New Zealand, Nigeria, Saudi Arabia, Sri Lanka, South Africa, Tanzania, Uganda and Zimbabwe. Further, the Company has executed 53 projects, 48 projects, and 52 projects in FY 2024, FY 2023, and FY 2022 respectively, representing revenue from turnkey projects of Rs. 8445.73 lakhs, Rs. 9,343.63 lakhs, and Rs. 6,632.27 lakhs respectively.
Competitive Strengths:
On August 31, 2024, the company employed 125 permanent employees and 21 temporary and agency workers.
HVAX Technologies Limited's revenue increased by 12% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | ||||||||||||||||||||||||||||||
The market capitalization of HVAX Technologies IPO is Rs 127.18 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 39.29% |
| ROCE | 25.17% |
| Debt/Equity | 0.8 |
| RoNW | 30.69% |
| P/BV | 3.06 |
| PAT Margin (%) | 8.85 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 45.92 | 33.82 |
| P/E (x) | 9.97 | 13.54 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is engaged in HAVC project contracting along with related services, it serves primarily pharma/healthcare/FMCG sector customers. The company posted growth in its top and bottom lines for the reported periods, but the net margins raise concern over its sustainability going forward. Based on FY24 earnings, the issue appears fully priced. Small equity capital post-IPO indicates longer gestation period. Well-informed investors may park funds for medium term. Read detail review...
HVAX Technologies Limited
601, Lodha Supremus,
I-Think Techno Campus,
Kanjurmarg (East), Mumbai - 400042
Phone: 022 4972 5039
Email: compliance@hvax.in
Website: http://www.hvax.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: hvax.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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HVAX Technologies IPO is a SME IPO of 732,000 equity shares of the face value of ₹10 aggregating up to ₹33.53 Crores. The issue is priced at ₹435 to ₹458 per share. The minimum order quantity is 300 Shares.
The IPO opens on September 27, 2024, and closes on October 1, 2024.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in HVAX Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in HVAX Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HVAX Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HVAX Technologies IPO opens on September 27, 2024 and closes on October 1, 2024.
HVAX Technologies IPO lot size is 300 Shares, and the minimum amount required is ₹137,400.
You can apply in HVAX Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for HVAX Technologies IPO will be done on Thursday, October 3, 2024, and the allotted shares will be credited to your demat account by Friday, October 4, 2024. Check the HVAX Technologies IPO allotment status.
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