Onyx Biotec IPO: The IPO of Onyx Biotec, which opened for bidding today, November 13, saw healthy investor interest, with the issue being subscribed 2.22 times as of 3:30 p.m., according to exchange data.
The retail investor segment was subscribed 4.23 times, while the non-institutional investor (NII) category received a 1.16 times subscription. Meanwhile, the qualified institutional buyer (QIB) segment did not receive any bids on Day 1.
The company intends to use the net proceeds from the IPO for several purposes such as upgrading its existing Manufacturing Unit I to produce large-volume parenteral for intravenous use, establishing a high-speed carton packaging line at its existing Manufacturing Unit II for dry powder injections, prepaying or repaying part of its outstanding loans, and for general corporate purposes.
Onyx Biotec issue details
1. Onyx Biotec IPO date: The issue opened for subscription on Wednesday, November 13, and will conclude on Monday, November 18.
2. Onyx Biotec IPO Price: The price band of the public issue has been fixed at ₹58 to ₹61 per equity share.
3. Onyx Biotec IPO Size: The company aims to raise ₹29.34 crore through the IPO, which is a fresh issue of 48.1 lakh shares.
4. Onyx Biotec IPO Lot Size: The IPO lot size is fixed at 2000 shares, requiring a minimum investment of ₹1,22,000 for retail investors.
5. Onyx Biotec IPO reservation: The IPO offers 9.12 lakh shares to qualified institutional buyers, 6.88 lakh shares to non-institutional buyers, and 16 lakh shares to retail investors.
6. Onyx Biotec IPO allotment date: The IPO allotment date is set for Tuesday, November 19. Investors who receive an allotment will see the shares in their demat accounts by Wednesday, November 20, while those who do not will have their refunds processed on the same day.
7. Onyx Biotec IPO listing: The SME IPO is proposed to list on the NSE SME on Thursday, November 21.
8. Onyx Biotec IPO GMP: According to market sources, the GMP of Onyx Biotec IPO on Wednesday was ₹10, suggesting that the stock may list ₹10 above the issue price of ₹61.
9. Onyx Biotec IPO book-running lead manager and registrar: Horizon Management Private Limited is the book-running lead manager of the Onyx Biotec IPO, while Mas Services Limited is the registrar for the issue. The market maker for the Onyx Biotec IPO is Giriraj Stock Broking.
10. Onyx Biotec business overview: The company is a pharmaceutical company providing sterile water for injections. It currently manufactures sterile water for injections and serves as a pharmaceutical contract manufacturer, offering a comprehensive range of dry powder injections and dry syrups for both the Indian and overseas markets. The company has two state-of-the-art manufacturing facilities located in Himachal Pradesh.
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