HVAX Technologies will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 486, a premium of 6.11% over the initial public offer (IPO) price. The stock was currently down 1.23% compared to its listing price. The counter hit a high of Rs 508 and a low of Rs 461.70. About 2.46 lakh shares of the company changed hands at the counter. Hvax Technologies' IPO was subscribed 22.82 times. The issue opened for bidding on 27 September 2024 and it closed on 1 October 2024. The price band of the IPO was set at Rs 435 to Rs 458 per share. The IPO comprised fresh issue of 7,32,000 shares. The promoter and promoter group shareholding diluted to 66.65% from 90.50% pre-IPO. The company intends to utilize the net proceeds for working capital requirements and general corporate purpose. Ahead of the IPO, Hvax Technologies on 26 September 2024, raised Rs 9.48 crore from anchor investors. The board allotted 2.07 lakh shares at Rs 458 per share to 3 anchor investor. Mumbai-based Hvax Technologies offers services for engineering, procurement and construction of controlled environments and clean room infrastructure. They provide design, engineering, and consulting services specifically for pharmaceutical and healthcare companies. The company supplies various products made by third parties, including, cleanroom wall panels, cleanroom ceiling panels, covings, clean room doors, flooring systems, riser panels, etc. The company's customers include pharmaceutical companies, chemical companies, hospitals, healthcare providers, and FMCG companies. As on 31 August 2024, the company had 125 permanent employees and 21 temporary employees. The company recorded revenue from operations of Rs 106.06 crore and net profit of Rs 9.39 crore for the period as on 31 March 2024. Powered by Capital Market - Live