HVAX Technologies Limited IPO
HVAX Technologies Limited IPO
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The Initial Public Offering of HVAX Technologies Limited's culminated in its successful listing on 07-10-2024 at the NSE trading platform. The company secured 7,32,000 Shares through this capital market exercise, with 7,32,000 Shares allocated to new capital formation.
Investors participated within the price parameters of ₹435 to ₹458, with minimum investment requirements of 300 shares. The subscription period from 27-09-2024 to 01-10-2024 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 03-10-2024. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
HVAX Technologies IPO About Company
HVAX Technologies Limited, founded in 2010, specializes in turnkey solutions for controlled environments and cleanroom infrastructure, primarily serving the pharmaceutical and healthcare sectors. The company provides a wide range of third-party-manufactured products, including cleanroom panels, doors, air handling units, and utility distribution systems. With a strong presence in industries like pharmaceuticals, healthcare, chemicals, and FMCG, HVAX has successfully completed around 200 projects across India and 15 countries, including Algeria, the UAE, New Zealand, and Saudi Arabia. Financially strong, the company executed 52 projects worth ₹6,632.27 lakhs in FY 2022, 48 projects generating ₹9,343.63 lakhs in FY 2023, and 53 projects valued at ₹8,445.73 lakhs in FY 2024. As of August 31, 2024, HVAX employs 125 permanent staff and 21 temporary workers, positioning itself for continued growth in the cleanroom infrastructure industry.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
HVAX Technologies IPO Strength Factors
Experienced Leadership: HVAX Technologies benefits from a seasoned management team with extensive expertise in turnkey engineering and cleanroom infrastructure, driving strong operational execution.
Comprehensive Execution: The company offers end-to-end services, from design and consulting to procurement and project execution, ensuring seamless project delivery for complex environments.
Strong Order Pipeline: With a robust order book and a history of successful projects in India and internationally, HVAX is well-positioned for continued growth and expansion.
HVAX Technologies IPO Risk Factors
- Reliance on Key Customers: HVAX Technologies depends on a small number of major clients. Losing any of them could impact its revenue and profitability.
- Supplier Dependence: The company works with a few key suppliers, so any disruptions in their supply chain could affect business operations.
- Connected Business Transactions: A large portion of HVAX’s supplies come from related companies like HVAX Engineering and Isovax Technologies, which may create risks related to dependency and potential conflicts of interest.
HVAX Technologies IPO Lead Manager(s)
- Fedex Securities Private Limited
HVAX Technologies IPO Promoter(s)
Nirbhaynarayan Singh
Prayagdatt Mishra
HVAX Technologies IPO FAQs
HVAX Technologies Limited IPO subscribed 34.26 times. The public issue subscribed 26.72 times in the retail category,14.02times in QIB, and -- times in the HNI (10+) category byFebruary 26, 2025 1:40:16 PM (Day 26).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
HVAX Technologies IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
HVAX Technologies IPO FAQs
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .