Onyx Biotec IPO subscribed 198 times on the last day; check allotment and listing date

Onyx Biotec Limited IPO closed with a bumper subscription on Monday, November 18, driven by Non-Institutional Investors (NIIs). The NSE SME issue was booked 198 times across the investor categories on the last day of bidding.

The ₹29.34-crore initial public offering of the pharmaceutical company opened for subscription on November 13.

The IPO investors applied for over 63.38 crore shares of Onyx Biotec compared to 32 lakh shares offered for subscription, leading to an overall subscription of 198.08 times.

Onyx Biotec IPO was subscribed 118.25 times in the retail category with bids for over 18.92 crore shares against the 16 lakh shares set aside for the category. The Non-Institutional Investors’ (NIIs) quota was subscribed 603.21 times. The NIIs placed bids for over 41.5 crore shares compared to 6.88 lakh shares reserved for the category.

The Qualified Institutional Buyers’ (QIBs) portion of the issue was subscribed 32.49 times as QIBs applied for over 2.96 crore shares compared to 9.12 lakh shares set aside for the category.

Onyx Biotec IPO issue size, price band and other details

The NSE SME IPO consisted of an entirely fresh issue of 48.1 lakh shares. The Onyx Biotec IPO price band was fixed at ₹58 to ₹61 per share.

The minimum lot size for the retail investors was fixed at 2,000 shares, aggregating to an investment of ₹1,22,000.

Onyx Biotec IPO share allotment status and listing date

Onyx Biotec IPO share allotment status is likely to be finalised by Tuesday, November 19.

Once the allotment of shares is completed, refunds will be initiated for unsuccessful bidders on November 20. Successful bidders will also receive shares of Onyx Biotec in their Demat accounts on the same day. Shares of Onyx Biotec will be listed on the NSE SME platform Emerge on Thursday, November 21.

Onyx Biotec IPO registrar

The book running lead manager for the SME issue is Horizon Management Private Limited and the registrar for the issue is Mas Services Limited.

Onyx Biotec IPO objective

The company will use the money raised via the public issue to upgrade its manufacturing facility to manufacture parenteral for intravenous use. A portion of the proceeds will be used to set up a high-speed carton packaging line for Dry Powder Injections. The company will also repay its borrowings using the proceeds, and the remaining funds will be used for general corporate purposes.

About Onyx Biotec

Onyx Biotec Limited was incorporated in May 2005. The company provides sterile water for injections and is a pharmaceutical contract manufacturer for a comprehensive range of Dry Powder Injections and Dry Syrups for the Indian and overseas markets. As of July 31, 2024, the pharmaceutical company employed 175 workers.