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HVAX Technologies Limited IPO (HVAX Technologies IPO) Detail

September 27, 2024 - October 1, 2024

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 bidding started from September 27, 2024 and ended on October 1, 2024. The allotment for HVAX Technologies IPO was finalized on Thursday, October 3, 2024. The shares got listed on NSE SME on 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.

HVAX Technologies IPO Details

IPO Date September 27, 2024 to October 1, 2024
Listing Date October 7, 2024
Face Value ₹10 per share
Price Band ₹435 to ₹458 per share
Lot Size 300 Shares
Total Issue Size732,000 shares
(aggregating up to ₹33.53 Cr)
Fresh Issue732,000 shares
(aggregating up to ₹33.53 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue2,044,875
Share holding post issue2,776,875
Market Maker portion37,200 shares
Aftertrade Broking

HVAX Technologies IPO Reservation

HVAX Technologies IPO offers 7,32,000 shares. 1,38,000 (18.85%) to QIB, 1,05,300 (14.39%) to NII, 2,44,500 (33.4%) to RII and 2,07,000 (28.28%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered2,07,000 (28.28%)
Market Maker Shares Offered37,200 (5.08%)
QIB Shares Offered1,38,000 (18.85%)
NII (HNI) Shares Offered1,05,300 (14.39%)
Retail Shares Offered2,44,500 (33.4%)
Total Shares Offered7,32,000 (100%)

HVAX Technologies IPO Anchor Investors Details

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 Timeline (Tentative Schedule)

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

HVAX Technologies IPO Lot Size

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

HVAX Technologies IPO Promoter Holding

Nirbhaynarayan Singh and Prayagdatt Mishra are the company's promoters.

Share Holding Pre Issue 90.50%
Share Holding Post Issue 66.65%

About HVAX Technologies Limited

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:

  • Experienced promoters and an experienced management team
  • Consistent implementation expertise
  • Visible growth thanks to a solid order backlog
  • Strong and consistent financial performance supported by a solid internal control and risk management system

On August 31, 2024, the company employed 125 permanent employees and 21 temporary and agency workers. 

Company Financials

HVAX Technologies Limited Financial Information (Restated)

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Assets6,366.327,825.595,386.78
Revenue10,746.999,613.866,879.13
Profit After Tax939.07520.37418.15
Net Worth3,059.831,720.771,200.4
Reserves and Surplus2,991.671,659.081,138.71
Total Borrowing2,437.291,692.211,010.03
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of HVAX Technologies IPO is Rs 127.18 Cr.

KPI as of March 31, 2024.

KPI Values
ROE39.29%
ROCE25.17%
Debt/Equity0.8
RoNW30.69%
P/BV3.06
PAT Margin (%)8.85
Pre IPO Post IPO
EPS (Rs) 45.9233.82
P/E (x) 9.9713.54
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (HVAX Technologies IPO Objectives)

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:

  1. Funding the working capital requirements; and
  2. General Corporate Purpose.

HVAX Technologies IPO Review (May apply)

[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 IPO Subscription Status (Bidding Detail)

The HVAX Technologies IPO is subscribed 34.16 times on October 1, 2024 6:19:59 PM. The public issue subscribed 26.69 times in the retail category, 14.02 times in the QIB category, and 77.92 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB14.02
NII77.92
Retail26.69
Total34.16

Total Application : 21,752 (26.69 times)

HVAX Technologies IPO Prospectus

HVAX Technologies IPO Rating

3
3.7
Rating:Rated 3.7 stars
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HVAX Technologies IPO Listing Details

Listing Date October 7, 2024
BSE Script Code
NSE Symbol HVAX
ISIN INE0TO501019
Final Issue Price ₹458 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹458.00
₹486.00
₹461.70
₹508.00
₹490.35

Check IPO Performance…

HVAX Technologies Limited Contact Details

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/

HVAX Technologies IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: hvax.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

HVAX Technologies IPO - Buy or Not

HVAX Technologies IPO Recommendation Summary

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Brokers 1 0 0
Members 0 0 0

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HVAX Technologies IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'HVAX Technologies IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The HVAX Technologies IPO listing date is on October 7, 2024.
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