The IPO of Onyx Biotec Limited was fully subscribed for within hours of its Wednesday, November 13 launch. There was a high demand from individual retail investors for the NSE SME issue.
In comparison to the 32 lakh shares available, investors from all categories applied for 96.54 lakh shares, resulting in an overall subscription that was more than three times, according to NSE data.
Total subscription across categories
Out of the 16 lakh shares available, 1.75 crore were applied for by retail investors. There were 10.96 times bookings for the retail portion of the IPO.
Compared to the 6.88 lakh shares reserved for the Non-Institutional Investors (NIIs) segment, bids for 41.84 lakh shares indicated a 6.15 -fold increase in subscriptions.
However, no applications were submitted for the Qualified Institutional Buyers (QIBs) category. For QIBs, the company has set aside 9.12 lakh shares.
IPO size and price band
The Rs 29.34 crore Onyx Biotec IPO is a book-building issue. A total of 48.1 lakh newly issued shares make up the public offering. The price range for the IPO has been set at Rs 58 to Rs 61 per share.
#Onyx Biotec #IPO of ₹29.34 Cr. is now open.
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As a new #investment frontier, it indicates the rising demand within India's #pharmaceutical industry. If your company belongs to same sector, now is your time. Connect with #IndiaIPO, and let our experts help you launch IPO. pic.twitter.com/65TiFYUqq9
Lot size and minimum bid
In order to participate in the IPO, retail investors must bid for a minimum of 2,000 shares, totaling Rs 1,22,000 in investment. However, High networth individuals (HNIs) are eligible to apply for at least two lots, or 4,000 shares, which would require a Rs 2,44,000 investment.
Subscription and listing timeline of IPO
Subscriptions for the Onyx Biotec IPO are accepted from Wednesday, November 13 through Monday, November 18. On Tuesday, November 19, the IPO share allocation status is anticipated to be finalised.
On Wednesday, November 20, refunds for unsuccessful bidders will begin following the public issue's share allocation status being finalised. On Wednesday, winning bidders will also receive company shares in their Demat accounts. The NSE SME platform, Emerge, will list the company's shares. The company's shares are expected to go public on Thursday, November 21.
Company financials
Onyx Biotec reported a profit-after-tax of Rs 1.3 crore for the June quarter, with revenue for Q1 FY25 totalling Rs 10.54 crore. As of the June quarter of FY25, the company's net worth was Rs 26.18 crore.
The company's revenue for FY24 was Rs 53.87 crore, up more than 36 per cent from FY23's Rs 39.61 crore. From a net profit of Rs 1.84 crore in the previous fiscal year to Rs 3.03 crore for the fiscal year ending March 31, 2024, the company's net profit increased by more than 64 per cent.
The company's net worth rose from Rs 18.2 crore in the previous fiscal year to Rs 24.87 crore, a nearly 36 per cent increase.