IPO Details
Bidding Dates
27 Sep '24 - 01 Oct '24
Minimum Investment
₹1,37,400/ 1 Lot (300 Shares)
Price Range
₹435 - ₹458
Maximum Investment
₹1,37,400/ 1 Lot (300 Shares)
Retail Discount
To be announced
Issue Size
₹33.53 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Sep 27, 2024
Closing Date
Oct 1, 2024
Basis of Allotment
Oct 3, 2024
Initiation of Refunds
Oct 4, 2024
Listing Date
Oct 7, 2024
About HVAX Technologies IPO
HVAX Technologies is launching an IPO worth ₹33.53 crore, which is a book-built issue. The IPO comprises a fresh issue of 7.32 lakh shares. It will open for subscription on September 27, 2024, and close on October 1, 2024. The allotment is expected to be finalised on October 3, 2024, with a tentative listing date set for October 7, 2024, on NSE SME.
The price band for the HVAX Technologies IPO is set between ₹435 and ₹458 per share. Retail investors need a minimum investment of ₹1,37,400 for one lot of 300 shares, while HNIs must invest in at least two lots (600 shares), totaling ₹2,74,800.
Fedex Securities Pvt Ltd serves as the book running lead manager for the IPO, with Kfin Technologies Limited acting as the registrar. Aftertrade Broking is the market maker for the issue. Investors can expect a competitive opportunity in the SME space with HVAX Technologies.
Industry Outlook:
- The India Cleanroom Panels Market is experiencing substantial growth due to the rising demand for contamination-free environments, particularly in the pharmaceutical and biotechnology sectors.
- The increasing prevalence of infectious diseases has led to a surge in pharmaceutical production, boosting the demand for cleanroom panels. This trend directly benefits HVAX Technologies Limited, as its expertise in cleanroom infrastructure can cater to this growing market.
HVAX Technologies IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- To raise funds to meet the company's working capital requirements, ensuring smooth operations.
- The remaining funds will be allocated towards general corporate purposes.
About HVAX Technologies Limited
HVAX Technologies Limited was originally incorporated as HVAX Technologies Private Limited on November 26, 2010, under the Companies Act, 1956. The company transitioned from a private to a public limited company on January 8, 2024, after passing a special resolution on December 11, 2023.
Since its inception, HVAX Technologies has evolved from being an HVAC project contractor to a leading provider of turnkey solutions for controlled environment infrastructure and cleanrooms. The company offers design, engineering, and consultancy services, primarily catering to pharmaceutical, chemical, healthcare, and FMCG companies. Its expertise spans engineering, procurement, installation, and project management, ensuring end-to-end delivery for complex projects.
In addition to its core services, HVAX Technologies supplies third-party manufactured products like cleanroom panels, doors, flooring systems, air handling units, and more. The company has completed over 200 projects in India and across 15 countries, with a strong order book totaling ₹15,364.47 lakh as of August 1, 2024. The founders, Nirbhaynarayan Singh and Prayagdatt Mishra, with over 20 years of experience, have been instrumental in the company's growth.
Peer Details
According to RHP, Ahlada Engineers Limited is the only listed peer considered by HVAX Technologies Limited.
How to Check the Allotment Status of the HVAX Technologies Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for HVAX Technologies IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the HVAX Technologies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of HVAX Technologies IPO
- Registered office: 601, Lodha Supremus, I-Think Techno Campus, Kanjurmarg (East), Mumbai -400042, Maharashtra
- Phone: 022 4972 5039
- E-mail: compliance@hvax.in
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 10606.13 | 9,592.92 | 6,825.93 |
| Profit After Tax (PAT) (in ₹ lakh) | 939.07 | 520.37 | 418.15 |
| Current Ratio (x) | 1.80 | 1.19 | 1.17 |
| Net Worth (in ₹ lakh) | 3,059.83 | 1,720.77 | 1,200.40 |
| EBITDA (in ₹ lakh) | 1,382.72 | 855.65 | 688.86 |
| Return on Equity (%) | 39.29 | 35.63 | 42.18 |
| Return on Capital Employed (RoCE) (%) | 25.17 | 22.20 | 26.91 |
| Earnings Per Share (in ₹) | 47.36 | 28.12 | 22.59 |
Know before investing
Strengths
6-
HVAX Technologies has a strong leadership with experienced promoters and management.
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The company showcases end-to-end execution capabilities, ensuring project efficiency.
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HVAX has a robust order book with projects worth ₹15,364.47 lakh.
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Consistent financial growth with a revenue CAGR of 24.17% since 2022.
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The company aims to expand into international markets like East and West Africa.
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HVAX focuses on pursuing large and complex projects for better profitability.
Risks
6-
Heavy reliance on a few customers could impact HVAX’s profitability.
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HVAX's dependence on top suppliers poses risks to operations.
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High working capital needs may strain HVAX’s business cash flow.
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Relationship-based orders for HVAX may lead to project uncertainties.
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Delays in HVAX’s order book execution could reduce income prospects.
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HVAX’s use of contract labor poses risks of payment obligations.
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HVAX Technologies IPO FAQs
HVAX Technologies IPO is a book built issue IPO. The IPO will be open from September 27, 2024, to October 1, 2024.
The Basis of Allotment will happen on Thursday, October 3, 2024.
The IPO subscription window will open on September 27, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 300 shares.
The listing date for HVAX Technologies is Monday, October 7, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read HVAX Technologies’s financial statements, download the IPO’s RHP document.
