Synopsis:
- IPO Dates: Opens on November 13 and closes on November 18.
- Price Band: ₹58 to ₹61 per share, with a minimum lot of 2,000 shares.
- Total Issue Size: The IPO will raise ₹29.34 crore.
- Funds Utilization: Proceeds will be used for manufacturing upgrades, packaging line setup, and debt repayment.
- Listing Date: Expected on November 22 on the NSE SME.
Onyx Biotec is set to launch its Initial Public Offering (IPO) on November 13, aiming to raise ₹29.34 crore. The SME IPO will offer shares in the price band of ₹58 to ₹61 per share, with a market lot of 2,000 shares. The IPO will remain open for subscription until November 18.
Founded on May 13, 2015, Onyx Biotec specializes in the supply of sterile pharmaceutical products, including dry powder injections and dry syrups. Initially focusing on sterile water for injection, the company has grown to become a leading supplier, catering to both domestic and international markets. Onyx Biotec is recognized for offering high-quality products at affordable prices, maintaining a strong presence in India’s pharmaceutical sector.
The IPO is a fresh issue of 48.10 lakh shares worth ₹29.34 crore at the upper price band, with the company receiving the proceeds. The funds raised from this issue will be used for various purposes, including upgrading manufacturing facilities, setting up a high-speed packaging line, and repaying debt.
Key Utilization of Onyx Biotec IPO Proceeds:
- ₹6.08 crore will be used for upgrading the existing manufacturing to produce large-volume parenterals for intravenous use, which will be sold under the Onyx brand.
- ₹1.24 crore will be allocated for setting up a high-speed packaging line for dry powder injections.
- ₹12 crore will be used to repay outstanding debt.
- The remaining funds will be allocated for general corporate purposes.
Onyx Biotec, headquartered in Punjab, operates two manufacturing facilities in Himachal Pradesh. The company also offers pharmaceutical contract manufacturing services for dry powder injections and dry syrups. It has established strong business relationships with major players in the pharmaceutical industry, including Hetero Healthcare, Mankind Pharma, Sun Pharmaceutical Industries, and others.
Retail Investors:
- Retail investors can apply for a minimum of 2,000 equity shares, which will cost around ₹1.22 lakh at the upper price band.
- The maximum investment limit for retail investors is ₹2 lakh.
The IPO’s anchor book will be launched on November 12, and the company’s shares are expected to be listed on the NSE SME on November 22.
Horizon Management is the book-running lead manager, while MAS Services will serve as the registrar for the offering.
Onyx Biotec IPO Key Details
| Detail | Information |
|---|---|
| IPO Subscription Dates | Opens on November 13, closes on November 18 |
| Price Band | ₹58 to ₹61 per share, with a lot size of 2,000 shares |
| Total Issue Size | ₹29.34 crore (fresh issue of 48.10 lakh equity shares) |
| Funds Utilization | ₹6.08 crore for manufacturing upgrades, ₹1.24 crore for packaging line, ₹12 crore to repay debt |
| Listing Date | November 22 on NSE SME |
| Retail Investment Limit | Minimum investment of 2,000 shares (up to ₹2 lakh) |
| IPO Anchor Book | Opens on November 12 |
| Lead Manager | Horizon Management |
| Registrar | MAS Services |
