HVAX Technologies IPO Subscription Status

HVAX Technologies' initial public offering (IPO) has garnered moderate investor interest, with subscription rates increasing steadily over the three-day period. Starting modestly on day one, the IPO witnessed a gradual increase in demand, resulting in a 3.91 times oversubscription by 11:29:59 AM on day three. This response indicates a fair market appetite for HVAX Technologies' shares and sets the stage for its potential listing.

The IPO, which opened on 27th September 2024, has seen growth in investor participation, primarily driven by Retail Investors. HVAX Technologies attracted bids for 19,07,700 equity shares amounting to ₹87.37 crore.

The Retail Investors segment has shown strong demand, followed by moderate interest from Non-Institutional Investors (NII). Qualified Institutional Buyers (QIB) have shown no participation so far.

Subscription Status of HVAX Technologies IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Here are the subscription details for HVAX Technologies IPO as of Day 3 (1st October 2024, 11:29:59 AM):

Total Applications: 5,474

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• The IPO of HVAX Technologies is currently subscribed 3.91 times, with strong demand from Retail Investors.
• Retail investors have shown significant interest, with a subscription ratio of 6.72 times.
• Non-Institutional Investors (NII) have demonstrated moderate enthusiasm, with a subscription ratio of 2.52 times.
• Qualified Institutional Buyers (QIB) have shown no interest, with a subscription ratio of 0.00 times.
• The overall subscription trend increases day-on-day, indicating growing investor interest towards the issue.

HVAX Technologies IPO - Day 2 Subscription at 2.43 Times

Key Highlights:

• On Day 2, HVAX Technologies' IPO was subscribed 2.43 times, with strong demand from Retail Investors.
• Retail investors showed increased interest with a subscription ratio of 4.17 times.
• Non-Institutional Investors (NII) showed moderate interest with a subscription ratio of 1.61 times.
• Qualified Institutional Buyers (QIB) showed no interest with a subscription ratio of 0.00 times.
• The overall subscription trend indicated building momentum, with retail category showing significant increased participation.

HVAX Technologies IPO - Day 1 Subscription at 1.13 Times

Key Highlights:

• The IPO of HVAX Technologies was subscribed 1.13 times on Day 1, with initial demand primarily from Retail Investors.
• Retail investors showed early interest with a subscription ratio of 1.79 times.
• Non-Institutional Investors (NII) showed minimal initial interest with a subscription ratio of 1.09 times.
• Qualified Institutional Buyers (QIB) showed no initial interest with a subscription ratio of 0.00 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About HVAX Technologies Limited:

HVAX Technologies Limited, established in 2010, is a specialized engineering company providing turnkey solutions for controlled environment and cleanroom infrastructure to pharmaceutical and healthcare companies. The company offers comprehensive services including design, engineering, procurement, and execution of projects. HVAX Technologies supplies a wide range of cleanroom products manufactured by third parties, such as wall panels, ceiling panels, doors, and air handling units. With a strong track record of completing around 200 projects across 15 countries, the company has demonstrated consistent growth, executing 52 projects in FY 2022, 48 in FY 2023, and 53 in FY 2024. Financially, HVAX Technologies reported revenue of ₹107.47 crore in FY 2024, a 12% YoY increase, with PAT rising 80% to ₹9.39 crore. As of 31st August 2024, the company employed 125 permanent staff and 21 temporary workers. HVAX Technologies' focus on pharmaceutical and healthcare sectors, coupled with its international presence and strong order backlog, positions it well in the specialized engineering services market.

Read more about HVAX Technologies IPO 

Highlights of the HVAX Technologies IPO:

• IPO Date: 27th September 2024 to 1st October 2024
• Listing Date: 7th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹435 to ₹458 per share
• Lot Size: 300 Shares
• Total Issue Size: 732,000 shares (aggregating up to ₹33.53 Cr)
• Fresh Issue: 732,000 shares (aggregating up to ₹33.53 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Fedex Securities Pvt Ltd
• Registrar: Kfin Technologies Limited
• Market Maker: Aftertrade Broking