HVAX Technologies Shares List At 6% Premium On NSE SME
The HVAX Technologies IPO was an entirely fresh issue of 7.32 lakh shares, totalling Rs 33.53 crore.
Shares of HVAX Technologies Ltd. debuted on the NSE SME platform Emerge, listing at a premium of 6.1% on Monday. The shares listed at Rs 486 over the issue price of Rs 458 at the upper end of the price band.
This indicates that investors who bought one lot of the IPO made a profit of Rs 8,400 against an investment of Rs 1,37,400. The stock gained nearly 11% from the listing price to touch an intraday high of Rs 508 apiece on the NSE.
HVAX Technologies IPO GMP
The listing price of the HVAX Technologies IPO was higher than its grey market premium, which hinted at a premium of Rs 25 or 5.46% over the issue price on Monday, hours before listing.
According to InvestorGain, the projected listing price of the initial public offering of HVAX Technologies was Rs 483 per share.
Investors must keep in mind that the GMP of an IPO does not indicate its official price and is highly speculative.
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HVAX Technologies IPO Details
HVAX Technologies IPO, a book-built issue of Rs 33.53 crore, received a decent demand from investors. The issue was subscribed 34.16 times on the final day of the bidding amid strong demand from non-institutional investors. NIIs subscribed 77.92 times the shares set aside for them. Retail investors bid for 26.69 times the shares allocated for them, while qualified institutional buyers (QIBs) subscribed to their quota by 14.02 times.
The HVAX Technologies IPO was an entirely fresh issue of 7.32 lakh shares. The issue was open between September 27 and October 1. Share allotment was finalised on October 3. Kfin Technologies Ltd. was the registrar for the IPO.
HVAX Technologies IPO: Use of Funds and Objectives
HVAX Technologies plans to use the net proceeds from the issue to meet its working capital requirements. Further, part of the money raised in the IPO will also be used for general corporate purposes.
About HVAX Technologies Ltd.
HVAX Technologies Ltd. offers turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms. Incorporated in 2010, the company also provides design, engineering and consultancy services for pharma and healthcare companies. The company has completed around 200 projects in India and 15 other countries since its establishment.
