ENA MSME 2024-10-07 17:09:19 <p><span style="font-size:14px"><strong>New Delhi, Oct 7 (KNN)</strong> HVAX Technologies' shares debuted on the National Stock Exchange (NSE) SME at Rs 486, reflecting a 6.11 per cent premium over the initial public offering (IPO) price of Rs 458.</span></p> <p><span style="font-size:14px">The stock was trading at Rs 480, marking a 4.80 per cent premium compared to the issue price, although it showed a slight decrease of 1.23 per cent from its listing price.</span></p> <p><span style="font-size:14px">The share price fluctuated, reaching a high of Rs 508 and a low of Rs 461.70, with approximately 2.46 lakh shares traded on the counter.</span></p> <p><span style="font-size:14px">The IPO of HVAX Technologies was met with significant interest, being oversubscribed 22.82 times.</span></p> <p><span style="font-size:14px">The issue, which opened for bidding on September 27 and closed on October 1, 2024, was priced between Rs 435 and Rs 458 per share.</span></p> <p><span style="font-size:14px">Through the offering, the company issued 7,32,000 new shares, leading to a dilution of promoter shareholding from 90.50 per cent to 66.65 per cent. HVAX plans to allocate the IPO proceeds towards working capital requirements and general corporate purposes.</span></p> <p><span style="font-size:14px">Prior to the IPO, HVAX Technologies raised Rs 9.48 crore from anchor investors on September 26, 2024, with the board allotting 2.07 lakh shares at the upper end of the price band, Rs 458 per share, to three anchor investors.</span></p> <p><span style="font-size:14px">Based in Mumbai, HVAX Technologies specialises in engineering, procurement, and construction of controlled environments and cleanroom infrastructure, offering tailored design and consulting services, especially for the pharmaceutical and healthcare sectors.</span></p> <p><span style="font-size:14px">The company provides third-party cleanroom solutions such as wall and ceiling panels, doors, and flooring systems, serving a diverse client base that includes pharmaceutical firms, hospitals, chemical companies, and fast-moving consumer goods (FMCG) businesses. As of August 31, 2024, HVAX employed 125 permanent staff and 21 temporary employees.</span></p> <p><span style="font-size:14px">For the financial year ending March 31, 2024, HVAX Technologies reported revenue from operations of Rs 106.06 crore and a net profit of Rs 9.39 crore.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39513 https://knnindia.co.in/news/newsdetails/msme/hvax-technologies-debuts-on-nse-with-611-premium 2024-10-07 17:09:19 knnindia.co.in