HVAX Technologies, a company that focuses on controlled environment infrastructure and cleanrooms, opened its Initial Public Offering (IPO) for subscription on Friday, September 27. The company aims to raise ₹34 crore by selling 7.32 lakh fresh equity shares. This SME IPO has a price range set between ₹435 and ₹458 per share, and investors must bid in lots of 300 shares each.
The HVAX Technologies IPO will remain open until October 1, and the shares are expected to list on the stock market on October 7. Investors can expect the allotment of shares by October 3. This timeline gives investors a clear idea of when they can buy shares and when they might start trading.
On September 27, the subscription status for the HVAX Technologies IPO shows strong interest from retail individual investors (RIIs). So far, there have been 116 applications, amounting to bids for 34,800 shares. Out of these, 24,600 shares were bid at the cut-off price, while 10,200 shares were offered at different prices.
On the other hand, non-institutional investors (NIIs) have submitted only 4 applications, totaling bids for 2,400 shares. Interestingly, there has been no participation from qualified institutional buyers (QIBs) as of now. This mix of interest reflects how retail investors are particularly excited about the company’s potential.
The HVAX Technologies IPO is a fresh issue worth ₹33.53 crore. For retail investors, the minimum investment is ₹1,37,400 for one lot of 300 shares. High net-worth individuals (HNIs) need to apply for at least two lots, which amounts to a total investment of ₹2,74,800 for 600 shares. This requirement indicates that the IPO is designed to attract serious investors who believe in the company’s future.
HVAX Technologies specializes in creating controlled environments and cleanroom solutions for industries like pharmaceuticals and healthcare. The company plays a crucial role in ensuring that these industries maintain high standards for cleanliness and safety. By providing innovative solutions, HVAX Technologies helps businesses operate effectively in demanding environments.
The overall sentiment towards the HVAX Technologies IPO is positive. The interest from retail investors suggests that many believe in the company’s growth potential and the expanding market for cleanroom technologies. As more investors learn about the company’s innovative solutions and strong fundamentals, interest is likely to continue.
As the HVAX Technologies IPO continues, it will be interesting to see how the subscription figures change leading up to the closing date on October 1. Investors will be watching closely to see if the strong interest from retail investors translates into successful allotment and listing on the stock market. The future looks promising for HVAX Technologies, and this IPO could be a significant step for the company as it seeks to expand its presence in the healthcare technology sector. Before investing in any IPO, it’s crucial to conduct thorough research.
