HVAX Technologies Listed With 6.1% Premium on NSE, Read More To Get Full Details!HVAX Technologies Listed With 6.1% Premium on NSE, Read More To Get Full Details!

HVAX Technologies made a modest debut on October 7, listing at ₹486 per share, which represents a 6.1% premium over its IPO issue price of ₹458. The listing took place on the NSE SME platform, indicating a relatively weak start for the stock.

HVAX Technologies IPO experienced robust demand on its Day 3, achieving a subscription rate of 31.83 times. This strong interest underscores investor confidence in the company’s prospects, indicating a positive market reception for its public offering.

HVAX Technologies specialises in turnkey projects and consultancy for pharma and healthcare sectors, focusing on cleanrooms and controlled environment infrastructure. Since its inception, it has completed 200 projects across 15 countries including UAE, Kenya, and New Zealand. As of August 01, 2024, it boasts a robust order book of ₹153.64 crores confirmed by purchase orders.

HVAX Technologies plans to allocate ₹21.70 crores from net proceeds for working capital, supplemented by internal funds and borrowings. Remaining funds will cover general corporate purposes, including operations, business development, and addressing unforeseen operational needs.