HVAX Technologies Limited, established in 2010, specializes in turnkey projects focused on engineering, procurement, and execution of controlled environment infrastructure and cleanrooms. The company has established itself as a leading provider of design, engineering, and consultancy services tailored for the pharma and healthcare sectors. With a strong management team and a commitment to quality, HVAX Technologies is poised for significant growth as industries increasingly demand contamination-free manufacturing environments.

IPO Overview

HVAX Technologies is set to launch a Book Built Issue amounting to ₹33.52 Crores, which consists entirely of a fresh issue of 7.32 lakh shares. The subscription period for the IPO opens on September 27, 2024, and closes on October 1, 2024. Allotment of shares is expected to be finalized on October 3, 2024, with shares slated for listing on the NSE SME around October 7, 2024.

Price Band and Investment Requirement: The share price band for the HVAX Technologies IPO is set between ₹435 to ₹458 per equity share, with a minimum lot size of 300 shares. Retail investors will need to invest at least ₹1,37,400, while High-Net-Worth Individuals (HNIs) must invest in 2 lots (600 shares), totaling ₹2,74,800.

Lead Manager and Market Maker:

Book-Running Lead Manager: Fedex Securities Private Limited

Registrar for the Issue: KFIN Technologies Limited

Sole Market Maker: Aftertrade Broking Private Limited

Grey Market Premium (GMP)

As of today, the Grey Market Premium (GMP) for HVAX Technologies Limited is expected to be ₹0, based on the company's financial performance. This premium serves as an educational and informational tool, as actual trading in the grey market often lacks reliable price discovery before the shares list on the stock exchange.

Live Subscription Status

As of 11:40 AM on October 1, 2024, the live subscription status for HVAX Technologies Limited indicates that the IPO has been subscribed 3.68 times on its third day of the subscription period. This high level of interest suggests a positive outlook for the IPO.

Allotment Status

The allotment date for the HVAX Technologies IPO is set for October 3, 2024. Investors can check their allotment status online by following these steps:

Visit the IPO allotment status page.

Select HVAX Technologies Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Objectives of the IPO

The proceeds from the fresh issue will be allocated towards:

Funding working capital requirements: ₹2,170 Lakhs

General corporate purposes.

Market Insights: India Cleanroom Panels Market

The India Cleanroom Panels Market is witnessing substantial growth, driven by increasing demand for contamination-free environments in sectors such as pharmaceuticals, biotechnology, electronics, and healthcare. The rising awareness of maintaining stringent regulatory compliance and product quality significantly contributes to this growth.

Key Trends:

Adoption of Advanced Cleanroom Solutions: Industries are investing heavily in modern cleanroom facilities to meet international quality standards.

Rising Pharmaceutical Production: The increasing prevalence of infectious diseases has led to a surge in pharmaceutical manufacturing, further propelling the demand for cleanrooms.

Electronics Manufacturing Boom: A growing consumer electronics market and the demand for microelectronics are bolstering cleanroom panel demand.

Despite these promising trends, challenges such as high setup costs and strict regulatory requirements persist, particularly for small and medium-sized enterprises (SMEs). However, opportunities in research and development, along with modular cleanroom solutions, present potential avenues for growth.

Competitive Strengths of HVAX Technologies

Experienced Management Team: The company benefits from a seasoned management team with extensive industry knowledge.

End-to-End Execution Capabilities: HVAX has developed comprehensive capabilities in project execution.

Robust Order Book: A strong order book reflects visible growth and market confidence.

Consistent Financial Performance: Supported by a solid internal control and risk management system.

Strategic Initiatives

Enhancing Project Execution Capabilities: HVAX aims to continually improve its execution capabilities.

Market Expansion: The company plans to maximize opportunities in existing markets while expanding its footprint in overseas markets.

Pursuing Complex Projects: Selectively targeting large-value and complex projects will be a key focus.

Risk Factors

Dependency on Related Parties: A significant portion of supply comes from related parties, posing a potential risk.

Regulatory Compliance: Compliance with anti-bribery, anti-corruption, and sanctions laws is crucial.

International Operations Risks: The complexities of managing international operations expose the company to various risks.

Supplier Dependence: Reliance on equipment suppliers could disrupt operations if issues arise.

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