HVAX Technologies is scheduled to hit the market on September 27, 2024 and close on October 1, 2024.
HVAX Technologies plans to raise around ₹33.53 Cr through an IPO with a sale of up to 732,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
HVAX Technologies Limited, founded in 2010, offers complete engineering, procurement, and execution services for cleanroom infrastructure. They provide design, engineering, and consulting services specifically for the pharmaceutical and healthcare industries. The company also supplies products made by other manufacturers, including cleanroom wall and ceiling panels, doors, flooring systems, air showers, chillers, and various utility equipment. Their clients include pharmaceutical firms, hospitals, healthcare companies, and FMCG businesses. So far, HVAX has completed around 200 projects in India and 15 other countries like Algeria, UAE, and South Africa.
The company has shown steady growth with a strong order backlog and solid financial performance. In recent years, they executed 53 projects in FY 2024, 48 in FY 2023, and 52 in FY 2022, generating revenues of Rs. 8445.73 lakhs, Rs. 9,343.63 lakhs, and Rs. 6,632.27 lakhs respectively. HVAX employs 125 permanent staff and 21 temporary workers as of August 31, 2024. Their strengths include an experienced management team, consistent project implementation skills, and effective internal control and risk management systems.
HVAX Technologies IPO Details
HVAX Technologies IPO opens on September 27, 2024, and closes on October 01, 2024. The Listing date for HVAX Technologies IPO is on October 07, 2024. The price band for IPO is ₹435 to ₹458 per share and lot size of 300 Shares.
| IPO Date | September 27, 2024 to October 01, 2024 |
| Listing Date | October 07, 2024 |
| Price | ₹435 to ₹458 per share |
| Lot Size | 300 Shares |
| Issue Size | ₹33.53 Cr |
| Face Value | ₹10 per share |
HVAX Technologies IPO Tentative Timetable
HVAX Technologies opening date is September 27, 2024 and close date is October 01, 2024. The IPO allotment date is October 03, 2024. Therefund initiation of IPO is on October 04, 2024. The credit of shares in demat account is on October 04, 2024. The listing date is on October 07, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 27, 2024 |
| IPO Closing | October 01, 2024 |
| IPO Allotment Date | October 03, 2024 |
| Refund Initiation | October 04, 2024 |
| Shares Credit to Demat | October 04, 2024 |
| Lisiting Date | October 07, 2024 |
HVAX Technologies IPO Lot Size
Lot Size of this IPO is 300 shares. A retail-individual investor can apply for up to 1 lots (300 shares or ₹137,400).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 300 | ₹137,400 |
| Retail(Maximum) | 1 | 300 | ₹137,400 |
| HNI (Minimum) | 2 | 600 | ₹274,800 |
HVAX Technologies IPO Promoter Holding
| Pre Issue Share Holding | 90.50% |
| Post Issue Share Holding | 66.65% |
HVAX Technologies IPO Review
The company is launching its first IPO (Initial Public Offering) through a book building process. They will offer 7,320,000 equity shares, each priced at Rs. 10, to raise Rs. 33.53 crores at the highest price in the IPO range.
For the last three years, the company has earned a total income and net profit as follows:
- FY22: Total Income: Rs. 68.79 crore, Net Profit: Rs. 4.18 crore
- FY23: Total Income: Rs. 96.14 crore, Net Profit: Rs. 5.20 crore
- FY24: Total Income: Rs. 107.47 crore, Net Profit: Rs. 9.39 crore
There are concerns about whether the company can maintain its profit margins.
Over these three years, the average earnings per share (EPS) is Rs. 32.15, and the average return on net worth (RoNW) is 31.23%. The share issue is priced at a price-to-book value (P/BV) of 3.06 based on its net asset value (NAV) of Rs. 149.63 as of March 31, 2024. If we consider the post-IPO NAV of Rs. 230.92 per share (at the upper price), the P/BV is 1.98.
If we look at the super earnings for FY24 in relation to the company's fully diluted paid-up equity capital, the asking price shows a price-to-earnings (P/E) ratio of 13.54. Based on earnings from FY23, the P/E ratio is 24.44, suggesting that the share price seems to be fully priced.
The company also reported profit after tax (PAT) margins of 6.13% in FY22, 5.42% in FY23, and 8.85% in FY24, with return on capital employed (RoCE) margins of 26.91%, 22.20%, and 25.17% for the same periods, respectively.
The company works on HVAC project contracting and related services, mainly for customers in the pharma, healthcare, and FMCG sectors. It has reported growth in both its sales and profits, but there are worries about its profit margins and whether they can be maintained in the future. Based on the earnings for FY24, the stock seems to be fully valued. The small amount of equity capital after the IPO suggests it may take longer to see returns. Savvy investors might consider investing for the medium term.
HVAX Technologies IPO Subscription Status (Bidding Details)
Table not foundHVAX Technologies IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
HVAX Technologies IPO FAQs
What is HVAX Technologies IPO?
HVAX Technologies is issuing 732,000 equity shares with a face value of ₹10 each, totaling up to ₹33.53 Cr. The shares are being offered at a price of ₹435 to ₹458 each, with a minimum order quantity of 300 shares.
Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When HVAX Technologies will open?
HVAX Technologies will open on September 27, 2024 for QIB, NII, and Retail Investors.
When HVAX Technologies IPO will end?
HVAX Technologies will end on October 01, 2024.
What is HVAX Technologies IPO Size?
HVAX Technologies IPO size is ₹33.53 Cr.
What is HVAX Technologies IPO Price Band?
HVAX Technologies price band is ₹435 to ₹458 per share.
What is HVAX Technologies IPO Allotment Date?
HVAX Technologies allotment date is October 03, 2024.
What is HVAX Technologies IPO Listing Date?
HVAX Technologies listing date is October 07, 2024. The IPO is to be listed on BSE and NSE.
How to HVAX Technologies IPO through Zerodha?
To apply for the IPO “HVAX Technologies” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply HVAX Technologies IPO through Upstox?
To apply for the IPO “HVAX Technologies” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check HVAX Technologies IPO Allotment Status?
For HVAX Technologies IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is HVAX Technologies IPO GMP?
You can check out here: HVAX Technologies IPO GMP. Check all IPO GMP here.