HVAX Technologies Ipo Gmp Today at 0 (0.0%) at Day 1, Check Subscription status

HVAX Technologies Ipo opened for subscription on Friday, September 27. The company aims to raise ₹33.57 rrore through the sale of fresh shares, totaling 7.32 million. This small and medium enterprise (SME) IPO is expected to gain traction, with the price range set between ₹435 and ₹458 per share. Investors must bid for a minimum of 300 shares. The company specializes in controlled environment infrastructure and clean rooms, serving critical sectors such as pharmaceuticals and healthcare. The IPO will remain open until October 1, with shares expected to be listed on October 7.

Day 1 Subscription Activity

As of 10:43 AM on September 27, retail individual investors (RIIs) showed strong participation with 116 applications, totaling 34,800 shares. Among these, 24,600 shares were auctioned at the cut-off price, while 10,200 shares were bid at the auction price. Non-Institutional Investors (NIIs) also contributed with 4 bids amounting to 2,400 shares. However, Qualified Institutional Buyers (QIBs) have not yet participated in the IPO.

HVAX Technologies IPO Details

HVAX Technologies is offering a fully fresh issue worth ₹33.53 crore. Retail investors are required to invest a minimum of ₹1,37,400 for a lot of 300 shares. High Net Worth Individuals (HNIs) must apply for at least two lots, translating to 600 shares and a minimum investment of ₹2,74,800. Fedex Securities Pvt Ltd is serving as the lead manager for this issue, with Kfin Technologies Ltd acting as the registrar. Aftertrade Broking has been appointed as the market maker for the IPO.

HVAX Technologies IPO GMP (Grey Market Premium)

HVAX Technologies shares are currently trading at par with the issue price in the grey market. There is no premium or discount reported, meaning that shares are trading at the same price as the initial offer price.

Company Financials and Use of IPO Proceeds

For the fiscal year ending March 2024, HVAX Technologies reported a revenue of ₹106 crore and a net profit of ₹9.39 crore. The company plans to utilize the IPO proceeds primarily for working capital needs and general corporate purposes, ensuring continued growth and expansion.