Onyx Biotec IPO Sees 5.90x Subscription on Day 2 as of 12:17 PM

Onyx Biotec IPO, one of the upcoming IPO in India, opened for bidding on November 13, 2024, and will close on November 18, 2024. 

The IPO allotment date is set for November 19, with the listing expected on the NSE SME platform on November 21, 2024.

The IPO, valued at ₹29.34 crore, is entirely a fresh issue of 48.1 lakh shares. The price band ranges from ₹58 to ₹61 per share, with a minimum application lot size of 2,000 shares. This means retail investors will need to invest a minimum of ₹1,22,000.

As of 10:26 AM on November 14, 2024, Onyx Biotec IPO GMP today stands at ₹15.

The company plans to utilise the net proceeds for various purposes which include, the upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use, setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections, for the prepayment or repayment of all or a portion of certain loans availed by the company and for general corporate purposes. 

Onyx Biotec IPO Subscription Status

• On Day 1, November 13, 2024, Onyx Biotec IPO was subscribed 3.15 times. The retail category was subscribed 5.57x, the QIB category was subscribed 0.00x and the NII category was 1.70x.
• On Day 2, November 14, 2024, as of 12:17 PM, Onyx Biotec IPO was subscribed 5.90 times. The retail category was subscribed 9.72x, the QIB category was subscribed 0.00x and the NII category was subscribed 4.87x.

About Onyx Biotec Ltd

Onyx began its operations in the pharmaceutical industry in 2010, starting with sterile water for injections. Since then, the company has been active in the healthcare segment, supplying sterile pharmaceutical products and becoming a notable supplier to major corporations, including leading pharma companies across India. Committed to delivering high-quality products at affordable prices, Onyx currently manufactures Sterile Water for Injections and operates as a pharmaceutical contract manufacturer. The company offers a wide range of dry powder injections and dry syrups for both domestic and international markets. All products are processed and manufactured in compliance with top FDA practices worldwide.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.