HVAX Technologies Limited is coming up with an IPO with a fresh issue of 7,32,000 shares worth INR 33.53 crores. The company aims to meet the working capital requirement and fund for general corporate purposes.
HVAX Technologies IPO – Important Dates
| HVAX Technologies Limited IPO Date | September 27, 2024 to October 1, 2024 |
| HVAX Technologies Limited IPO Listing Date | October 7, 2024 |
| HVAX Technologies Limited IPO Price | INR 435-458 per share |
| HVAX Technologies Limited IPO Lot Size | 300 Shares |
| HVAX Technologies Limited IPO Total Issue Size | INR 33.53 crores |
| HVAX Technologies Limited IPO Basis of Allotment | October 3, 2024 |
| HVAX Technologies Limited IPO Initiation of Refunds | October 4, 2024 |
| HVAX Technologies Limited IPO Credit of Shares to Demat | October 3, 2024 |
| HVAX Technologies Limited IPO Issue Type | Book Built Issue IPO |
| HVAX Technologies Limited IPO Listing At | NSE SME |
HVAX Technologies Limited IPO – Company Profile
The Company is engaged in the business of turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms; design, engineering and consultancy services for pharma and healthcare companies.
Since incorporation, the Company has completed around 200 projects in India and across 15 countries, namely Algeria, Ethiopia, UAE, Ghana, Kenya, Nepal, New Zealand, Nigeria, Saudi Arabia, Sri Lanka, South Africa, Tanzania, Uganda, Zimbabwe etc.
As on August 01, 2024 the company has a strong order book aggregating to ₹ 153.64 crores, which have been confirmed based on purchase order.
HVAX Technologies Ltd IPO Fundamental Analysis
HVAX Technologies shows strong revenue growth, controlled expenses, and significant profitability, as evidenced by its rising EPS and RoNW. The sharp increase in NAV and reduced liabilities reflect improved financial management.
Revenue and Expenses:
- Revenue grew consistently from ₹6,825.93 lakhs in 2022 to ₹10,606.13 lakhs in 2024, indicating a healthy expansion.
- Expenses followed a similar trend, rising from ₹6,321.32 lakhs in 2022 to ₹9,488.33 lakhs in 2024, though the company has managed to maintain a positive profit margin.
Profit and EPS:
- Profit after tax nearly doubled over three years, from ₹418.15 lakhs in 2022 to ₹939.07 lakhs in 2024, showcasing robust profitability.
- Diluted EPS jumped from ₹22.59 in 2022 to ₹47.36 in 2024, reflecting a significant rise in earnings per share, enhancing shareholder value.
Return on Net Worth (RoNW):
- RoNW remained strong, above 30% across all three years, slightly improving from 30.24% in 2023 to 30.69% in 2024, signaling efficient use of equity to generate profits.
Net Asset Value (NAV):
- NAV per share rose significantly, from ₹64.86 in 2022 to ₹149.63 in 2024, indicating growing shareholder equity and improved financial strength.
Assets and Liabilities:
- Total assets fluctuated, peaking at ₹7,825.59 lakhs in 2023 but decreasing to ₹6,366.32 lakhs in 2024, likely due to debt reduction efforts.
- Total liabilities dropped sharply from ₹6,104.82 lakhs in 2023 to ₹3,306.49 lakhs in 2024, suggesting better financial health and a focus on reducing debt.
HVAX Technologies IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 March 2024 |
| Revenue (₹ in lakhs) | 6,825.93 | 9,592.92 | 10,606.13 |
| Equity (₹ in lakhs) | 1,200.40 | 1,720.77 | 3,059.83 |
| Expenses (₹ in lakhs) | 6,321.32 | 8,914.86 | 9,488.33 |
| Profit and Loss After Tax (₹ in lakhs) | 418.15 | 520.37 | 939.07 |
| Diluted EPS only (₹) | 22.59 | 28.12 | 47.36 |
| Return on Net Worth (%) | 34.83 | 30.24 | 30.69 |
| NAV per Equity Share (₹) | 64.86 | 92.98 | 149.63 |
| Total Assets (in lakhs) | 5,386.78 | 7,825.59 | 6,366.32 |
| Total Liabilities (in lakhs) | 4,186.38 | 6,104.82 | 3,306.49 |
HVAX Technologies Limited IPO Peer Comparison
HVAX Technologies Limited reported revenue of ₹10,606.13 lakhs with an EPS of ₹47.36 and RoNW of 30.69%, while Ahlada Engineers Limited had revenue of ₹25,951.69 lakhs, an EPS of ₹10.56, and RoNW of 9.93%.
| Company | Revenue from Operations (₹ in lakhs) | Face Value per Equity Share (₹) | P/E Ratio | EPS (Basic and Diluted) (₹) | RoNW (%) |
| HVAX TechnologiesLimited | 10606.13 | 10 | NA | 47.36 | 30.69 |
| Ahlada Engineers Limited | 25951.69 | 10 | 10.64 | 10.56 | 9.93 |
HVAX Technologies Ltd IPO Objective
The main objective of HVAX Technologies plans to allocate INR 21.70 crores from the Net Proceeds for working capital needs, with additional funds from internal sources and borrowings. The remaining funds will be used for general corporate purposes, including operations and business development.
- To Meet Working Capital Requirements: The company intends to utilize INR 21.70 crores from the Net Proceeds of the Offer for additional working capital, with the remainder sourced from internal accruals and borrowings to support inventory and operational needs.
- General Corporate Purpose: The company will deploy the balance of funds for general corporate purposes, including meeting operating expenses and initial development costs for various projects, strengthening business development and marketing capabilities, and addressing unforeseen exigencies in ordinary operations.
HVAX Technologies IPO Risks And Challenges
HVAX Technologies IPO risks involve dependency on its top three customers, and losing any of these could negatively impact profitability. Additionally, the company relies on contract labor, potentially being liable for wage payments if contractors default. Past negative cash flows also pose a risk, with sustained negative cash flows potentially affecting operations and financial stability.
- Almost 40% of the revenue of the company comes from top 3 customers.The loss of any of this large customer may affect the revenues and profitability.
- The company appoints contract labour for carrying out the operations and may be held responsible for payment of wages of such workers, if the independent contractors through whom such workers are hired default on their payment obligations. Such obligations could have an adverse impact on the results of operations, cash flows and financial condition.
- The company has incurred negative cash flows in the past. Sustained negative cash flows can impact the operations of the company.
HVAX Technologies Ltd IPO – Industry & Market Potential
The India Cleanroom Panels Market is witnessing substantial growth, driven by increasing demand for contamination-free manufacturing environments in industries like pharmaceuticals, biotechnology, electronics, and healthcare. The market encompasses various cleanroom products and services to ensure stringent regulatory compliance and maintain product quality. The region’s rising awareness regarding the importance of Cleanroom Panels in ensuring product integrity and safety is a significant growth factor.
The Hospitals segment is experiencing a trend towards the integration of advanced air filtration and disinfection technologies in cleanrooms to maintain the highest standards of cleanliness and patient safety. There is also an increasing focus on designing modular and flexible cleanroom solutions that can be easily adapted to changing hospital needs and requirements. The demand for specialized cleanrooms to support research and development activities in the healthcare sector is also on the rise in the India region.
HVAX Technologies Limited IPO – Type of Offer
HVAX Technologies Limited is launching an IPO featuring a fresh issue of 732,000 shares valued at INR 33.53 crores. The company plans to utilize the funds for working capital needs and general corporate purposes.
HVAX Technologies IPO Offer Size
The offer size for HVAX Technologies Limited is 732,000 shares, amounting to INR 33.53 crores. The company intends to use the proceeds to meet working capital requirements and for general corporate purposes.
HVAX Technologies Limited IPO Allotment Structure
HVAX Technologies Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 37,200 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 37,200 shares, are reserved for market makers.
How to apply for the HVAX Technologies IPO?
To apply for the HVAX Technologies Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the HVAX Technologies Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the HVAX Technologies Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check HVAX Technologies IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the HVAX Technologies Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the HVAX Technologies Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the HVAX Technologies Limited IPO:
● Registrar’s Website: Visit the website of Kfin Technologies Limited, the registrar of the HVAX Technologies Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
HVAX Technologies Ltd IPO Offer Registrar
The registrar for the HVAX Technologies Limited IPO is Kfin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Kfin Technologies Limited
Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana, India
Email Id: [email protected]
Website: www.kfintech.coms
HVAX Technologies IPO – FAQs
1. What is the allotment date of the HVAX Technologies IPO?
The allotment date of the HVAX Technologies Limited IPO is October 3, 2024.
2. What is the price band of the HVAX Technologies IPO?
The price band of the issue is INR 102 -108 per share.
3. What is the size of the HVAX Technologies IPO?
The offer size for HVAX Technologies Limited is 732,000 shares, amounting to INR 33.53 crores. The company intends to use the proceeds to meet working capital requirements and for general corporate purposes.
4. What is the listing date of the HVAX Technologies IPO?
The listing date of HVAX Technologies Limited’s IPO is October 7, 2024.
