Onyx Biotec IPO allotment: The allotment of Onyx Biotec's initial public offering (IPO) will be finalised soon, after overwhelming interest and robust subscriptions for the share sale issue.
The SME IPO, valued at ₹29.34 crore, opened for bidding on November 13 and closed on November 18. The price band was set in the range of ₹58-61 per share.
Investors can check the Onyx Biotec IPO allotment status online through the official portal of the IPO registrar Mas Services Limited.
The company will credit the equity shares on Tuesday, November 20, into the Demat accounts of investors who have received the allotment. Refunds for rejected applications will also be processed the same day. Onyx Biotec IPO is slated to list on NSE SME on Thursday, November 21, 2024.
Step 1: Go to the IPO registrar website of Mas Services Ltd.
Step 2: From the selection menu, choose Onyx Biotec IPO.
Step 3: To discover the status, pick a mode – click on PAN, Demat account, or application number.
Step 4: Enter the required information, such as your application number, PAN, or Demat Account number.
Step 5: Enter the ‘captcha’ to verify that you are not a robot.
Step 6: Click ‘submit’ to view allotment status.
The Onyx Biotec IPO was entirely a fresh issue of 48.1 lakh shares. There was no offer for sale (OFS) component in this issue. The minimum lot size for an application was 2,000 shares, and the minimum investment required by retail investors was ₹1.22 lakh.
The IPO closed with overwhelming demand, garnering 198 times bids in three days. The IPO received bids for 63.36 crore shares against 32 lakh shares on offer. The retail investor segment saw a subscription of 118.26 times, while the non-institutional investors (NII) category was booked a massive 602.86 times. Meanwhile, the qualified institutional buyer's (QIB) quota was subscribed 32.49 times in three days.
The company plans to allocate the net proceeds from the issue to several key areas: upgrading its existing Unit I to enhance the production of large-volume parenteral for intravenous use, establishing a high-speed carton packaging line at Unit II for dry powder injections, partially or fully repaying certain outstanding loans, and funding general corporate purposes.
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 Onyx Biotec IPO is Giriraj Stock Broking.
Onyx Biotec Limited, established in May 2005, is a pharmaceutical company specialising in sterile water for injections and contract manufacturing of dry powder injections and syrups for both domestic and international markets. The company operates two manufacturing facilities in Solan, Himachal Pradesh. Unit I boasts a daily production capacity of 638,889 units of sterile water for injections, while Unit II produces 40,000 units of dry powder injections and 26,667 units of dry syrup per shift.
Onyx Biotec’s clientele features notable names such as Hetero Healthcare, Mankind Pharma, Sun Pharmaceutical Industries, and Reliance Life Sciences.
Between the fiscal years ending March 31, 2023, and March 31, 2024, the company's revenue surged by 35.99%, and profit after tax (PAT) saw an impressive 64.35% increase.
The IPO's grey market premium (GMP) today is ₹10 per share. This indicates an expected listing price of ₹71, a premium of 16.29 per cent over its issue price of ₹61. The GMP was the same as the previous session but declined from ₹15 on November 17.
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