Onyx Biotec IPO: Check Final Day Subscription Status And GMP Details

Pharmaceutical company Onyx Biotec Ltd. launched its IPO last week. The SME IPO was subscribed 3.15 times on the opening day of bidding on Nov. 13. On the second day, it was subscribed 9.95 times. The three-day subscription window for Onyx Biotec IPO will close on Monday evening.

The book-built IPO consists of a fresh issuance of 48.1 lakh shares aimed at raising Rs 29.34 crore from the market. Investors looking to bid in this NSE SME IPO must check out these key details, before making a decision:

Onyx Biotec IPO's price band has been set between Rs 58 and Rs 61 per share. The minimum lot size for retail investors is 2,000 shares, amounting to an investment of Rs 1,22,000.

The allotment status of Onyx Biotec IPO is scheduled to be finalised on Nov. 19. This will be followed by the credit of shares into the demat account of successful bidders and initiation of refunds for non-allottees on Nov. 20.

Shares of Onyx Biotec Ltd. are set to be listed on the NSE SME platform, Emerge, tentatively on Nov. 21.

The book-running lead manager for the SME issue is Horizon Management Pvt. The registrar for Onyx Biotec IPO is Mas Services Ltd. while Giriraj Stock Broking Pvt. is the market maker for the issue.

The Onyx Biotec IPO has been subscribed 192.26 times as of 4:12 p.m on Monday:

• Qualified Institutions: 32.49 times.

• Non-Institutional Buyers: 602.47 times

• Retail Investors: 106.95 times

Onyx Biotec IPO's grey market premium stood at Rs 10 as of 1:23 a.m. on Monday, according to the InvestorGain website. Going by the current GMP trend, the company's shares are slated to list at Rs 71 apiece, marking a listing gain of Rs 10 or 16.39%.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Incorporated in 2005 as a pharmaceutical company, Onyx Biotec provides sterile water for injections. It also serves as a pharmaceutical contract manufacturer, offering a comprehensive range of dry powder injections and dry syrups for both the Indian and overseas markets.

Onyx Biotec has two manufacturing units in Solan, Himachal Pradesh.

Use Of Proceeds

The company plans to use the funds raised via the public issue for upgrading its existing manufacturing unit so that it can produce large-volume parenteral for intravenous use.

A portion of the IPO proceeds will also be used for setting up a high-speed carton packaging line at one of its manufacturing facilities.

Funds raised via the public issue will also be used to settle debt and for general corporate purposes.

Financials

Onyx Biotec Ltd.’s revenue from operations for the period ended May 31, 2024, stood at Rs 10.52 crore, with Rs 1.3 crore as profit-after-tax.

The company reported revenue from operations of Rs 53.74 crore in FY24, marking a more than 36% year-on-year increase from Rs 39.48 crore in the year-ago period. PAT in FY24 increased 64.67% to Rs 3.03 crore compared to Rs 1.84 crore in FY23.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.