Onyx Biotec IPO Sees 39.75x Subscription on the Last Day as of 1:00 PM

Onyx Biotec IPO, one of the upcoming IPO in India, opened for subscription on November 13, 2024, and will close today, November 18, 2024.

The shares allotment date of the IPO is expected to be on November 19. The shares are expected to be on November 21, 2024, on the NSE SME platform.

The Onyx Biotec IPO, valued at ₹29.34 crore, is a fresh issue of 48.1 lakh shares. The price band ranges from ₹58 to ₹61 per share, with a minimum application lot size of 2,000 shares. Retail investors are required to invest a minimum of ₹1,22,000.

As of 11:24 AM on November 18, 2024, Onyx Biotec IPO GMP today stands at ₹10.

The company plans to use the net proceeds for various purposes which include, upgrading existing manufacturing Unit I to manufacture large volume parentals for intravenous use, setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections, prepaying or repaying all or a portion of certain loans availed by the company and for general corporate purposes.

Onyx Biotec IPO Subscription Status

• On Day 1, November 13, 2024, Onyx Biotec IPO was subscribed 3.15 times. The retail category was subscribed 5.57x, the QIB category was subscribed 0.00x and the NII category was 1.70x.
• On Day 2, November 14, 2024, Onyx Biotec IPO was subscribed 9.95 times. The retail category was subscribed 16.40x, the QIB category was subscribed 0.00x and the NII category was subscribed 8.15x.
• On Day 3, November 18, 2024, as of 1:00 PM, Onyx Biotec IPO was subscribed 39.75 times. The retail category was subscribed 50.77x, the QIB category was subscribed 4.42x and the NII category was subscribed 60.97x.

About Onyx Biotec Ltd

Onyx Biotec started its operations in the pharmaceutical industry in 2010, with sterile water for injections. Since then, the company has been active in the healthcare segment, supplying sterile pharmaceutical products and becoming a notable supplier to major corporations, including leading pharma companies across the country. Onyx currently is engaged in the manufacturing of Sterile Water for Injections and operates as a pharmaceutical contract manufacturer. The company provides a wide range of dry powder injections and dry syrups for both local and foreign markets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.