The recent listing of HVAX Technologies shares at ₹486 on the NSE SME marks a significant milestone for the company, which has successfully tapped into the market with a 6% premium. The strong demand for its Initial Public Offering (IPO) is evidenced by the 34.16 times oversubscription rate, highlighting investor confidence in the company's business model and future prospects.

HVAX Technologies specializes in turnkey projects for controlled environment infrastructure and cleanrooms, providing essential design and engineering consultancy services for the pharma and healthcare sectors. Founded by the visionary promoters, Nirbhaynarayan Singh and Prayagdatt Mishra, the company has a solid foundation with over 20 years of combined experience in executing HVAC projects and turnkey solutions. Their leadership has driven the company’s growth while establishing a strong value system.

The IPO was launched with a fresh issue of 7.32 lakh shares, amounting to ₹33.52 crores. The price band was set between ₹435 and ₹458, with retail investors needing a minimum investment of ₹1,37,400 for 300 shares. This pricing strategy attracted a wide range of investors, including High-Net-Worth Individuals (HNIs) who invested a minimum of ₹2,74,800 for 600 shares.

The allotment date for HVAX Technologies was set for October 3, 2024, and the substantial interest shown during the subscription period only reinforces the optimism surrounding the company's potential. Financially, HVAX Technologies has shown remarkable growth with revenues of ₹10,746.99 lakhs in Fiscal 2024, up from ₹9,613.86 lakhs in Fiscal 2023 and ₹6,879.13 lakhs in Fiscal 2022. This growth is reflected in its Profit After Tax (PAT), which rose to ₹939.07 lakhs in FY2024, demonstrating strong profitability.

Investors are particularly keen on metrics such as the Earnings Per Share (EPS), which stands at ₹47.36 pre-issue and ₹33.81 post-issue. The P/E ratios are notably attractive, with a pre-issue ratio of 9.67x and a post-issue ratio of 13.54x, especially when compared to the industry average of 48.97x. Such financial indicators suggest that the IPO is fairly priced, making it a subject of interest for prospective investors.

However, it is important to consider the Grey Market Premium (GMP), which currently indicates 0% potential listing gains. Investors should carefully evaluate the company's financial health and market conditions before making any investment decisions. Given the financial metrics and the performance outlook, it is recommended to approach the HVAX Technologies IPO with caution, focusing on long-term growth rather than immediate listing gains.

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