HVAX Technologies Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹458
Per ShareLot Size
300 Shares
Minimum Investment
₹1,37,400
Issue Size
₹33.53 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
HVAX Technologies Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
90.5%
Promoter Holding (Post-Issue)
66.65%
Issue Type
Book Building - SME
ISIN
INE0TO501019
About the Company
Since our incorporation in 2010, we have evolved from our origins of acting as a HVAC project contractor and have developed expertise in undertaking turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms; design, engineering and consultancy services for pharma and healthcare companies; and sale and supply of equipment. While our primary customers are pharmaceutical companies, our customers also include chemical companies, hospitals, healthcare companies, and FMCG companies.
Industry Overview
Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated at Rs. 172.90 lakh crores (US$ 2.07 trillion), against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs. 160.71 lakh crores (US$ 1.92 trillion). The growth in real GDP during 2023-24 is estimated at 7.6% as compared to 7.0% in 2022-23. There are 113 unicorn startups in India, with a combined valuation of over US$ 350 billion. With India presently has the third-largest unicorn base in the world. The government is also focusing on renewable sources by achieving 40% of its energy from non-fossil sources by 2030.
Company History
Our Company was originally incorporated as "HVAX Technologies Private Limited" as a private limited company under the Companies Act, 1956 vide certificate of incorporation dated November 26, 2010 issued by Deputy Registrar of Companies, Maharashtra, Mumbai. Further, our Company was converted from a private limited company to public limited company pursuant to special resolution passed in the Extra-Ordinary General Meeting of our Company dated December 11, 2023 and consequently, the name of our Company was changed from "HVAX Technologies Private Limited" to "HVAX Technologies Limited" and a fresh certificate of incorporation dated January 8, 2024 was issued to our Company by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U74999MH2010PLC210329.
Growth Strategy
- Continue to enhance our project execution capabilities and increase our turnkey business.
- Maximizing Opportunities in Existing Markets and Expanding Footprint in Overseas Markets.
- Selectively Pursue Large Value and Complex Projects.
Financial Performance
Revenue, profit after tax and total assets across the last 2 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY25 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of upto 7,32,000* equity shares of face value of Rs. 10/- each of HVAX Technologies Limited ("HVAX" or the "Company" or the "Issuer") for cash at a price of Rs. 458/- per equity share including a share premium of Rs. 448/- per equity share (the "Issue Price") aggregating to Rs. 33.53 crores ("The Issue"), of which 37,200 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 458/- per equity share including a share premium of Rs. 448/- per equity share aggregating to Rs. 1.70 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 6,94,800 equity shares of face value of Rs. 10/- each at a price of Rs. 458/- per equity share including a share premium of Rs. 448/- per equity share aggregating to Rs. 31.82 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.36 % and 25.02 %, respectively, of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each. *Subject to finalization of the basis of allotment
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Experienced Promoters and Management Team.
- End-to-end execution capabilities.
- Visible growth through a robust order book.
- Scalable Business Model.
- The Company is dependent on few numbers of customers for sales. The loss of any of this large customer may affect its revenues and profitability.
- The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.
- Significant portion of its supply are from the company related parties being HVAX Engineering and Isovax Technologies.
- The company has experienced significant working capital requirements in past and may continue to experience in future also. If the company experience insufficient cash flows from its operations or are unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
- The company source a large part of its new orders from the company relationships with customers, both present and past. Any failures to maintain its long-standing relationships with the company existing customers or forge similar relationships with new ones would have a material adverse effect on its business operations and profitability.