Onyx Biotec IPO Overview

The Onyx Biotec IPO, a book-built issue, is set to raise ₹29.34 crores through a fresh issuance of 48.1 lakh shares. The IPO opens for subscription on November 13, 2024, and closes on November 18, 2024. Allotment is expected to be finalized by Tuesday, November 19, 2024, with a tentative listing date on NSE SME set for Thursday, November 21, 2024.

The IPO’s price band is between ₹58 and ₹61 per share, with a minimum lot size of 2000 shares. Retail investors must invest at least ₹122,000, while the minimum HNI investment is set at 2 lots (4000 shares), amounting to ₹244,000.

Horizon Management Private Limited is the book running lead manager of the Onyx Biotec IPO, while Mas Services Limited is the registrar for the issue. The market maker for Onyx Biotec IPO is Giriraj Stock Broking.

Refer to Onyx Biotec IPO RHP for detailed information.

Onyx Biotec IPO Important dates

Onyx Biotec IPO opens on November 13, 2024, and closes on November 18, 2024.

IPO Open Date Wednesday, November 13, 2024
IPO Close Date Monday, November 18, 2024
Basis of Allotment Tuesday, November 19, 2024
Initiation of Refunds Wednesday, November 20, 2024
Credit of Shares to Demat Wednesday, November 20, 2024
Listing Date Thursday, November 21, 2024
Cut-off time for UPI mandate confirmation 5 PM on November 18, 2024

Onyx Biotec IPO Financial Performance

Onyx Biotec Limited’s revenue increased by 35.99% and profit after tax (PAT) rose by 64.35% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 31 May 2024 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 7,476.57 7,413.58 5,872.36 3,683.84
Revenue 1,054.11 5,387.43 3,961.65 4,498.09
Profit After Tax 130.77 303.16 184.46 335.29
Net Worth 2,618.64 2,487.87 1,820.16 1,637.59
Reserves and Surplus 1,286.42 1,155.65 1,230.00 1,047.43
Total Borrowing 3,156.14 3,078.04 2,922.83 1,224.39

Onyx Biotec IPO Key Performance Indicator

The market capitalization of Onyx Biotec IPO is Rs 110.61 Cr.

KPI as of May 31, 2024.

KPI Values
ROE 4.99%
ROCE 3.71%
Debt/Equity 1.21
RoNW 4.99%
P/BV 3.1
PAT Margin (%) 12.42
Pre IPO Post IPO
EPS (Rs)  2.28 4.33
P/E (x)  26.81 14.1

Onyx Biotec IPO Objectives

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:

  1. Upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use;
  2. Setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections;
  3. Prepayment or repayment of all or a portion of certain loans availed by the Company; and
  4. General Corporate Purposes.

Onyx Biotec IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 2000 ₹122,000
Retail (Max) 1 2000 ₹122,000
HNI (Min) 2 4,000 ₹244,000

Onyx Biotec IPO Details

IPO Date November 13, 2024 to November 18, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹58 to ₹61 per share
Lot Size 2000 Shares
Total Issue Size 4,810,000 shares
(aggregating up to ₹29.34 Cr)
Fresh Issue 4,810,000 shares
(aggregating up to ₹29.34 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue 13,322,200
Share holding post issue 18,132,200
Market Maker portion 244,000 shares
Giriraj Stock Broking

Onyx Biotec IPO Company Overview and Services

Onyx Biotec Limited, incorporated in May 2005, is a leading pharmaceutical company specializing in sterile water for injections. The company serves as a contract manufacturer, offering a wide range of Dry Powder Injections and Dry Syrups to both domestic and international markets.

The company operates two manufacturing units in Solan, Himachal Pradesh. Unit I has a daily production capacity of 638,889 units of Sterile Water for Injections, while Unit II produces 40,000 units of dry powder injections and 26,667 units of dry syrup daily in a single shift.

Onyx Biotec boasts an impressive clientele, including renowned pharmaceutical companies like Hetero Healthcare Limited, Mankind Pharma Limited, Sun Pharmaceutical Industries Limited, Aristo Pharmaceuticals Private Limited, Macleods Pharmaceuticals Limited, and others. As of May 31, 2024, the company’s client base exceeded 100 Indian and multinational pharma clients.

The company upholds rigorous quality standards, holding ISO 9001:2015 and ISO 14001:2015 certifications from ROHS Certification Private Limited. As of July 31, 2024, Onyx Biotec employed 175 professionals across various departments, supporting its expansive operations and commitment to excellence in pharmaceutical manufacturing.

Onyx Biotec IPO SWOT Analysis

Strengths:

  1. Established Reputation and Clientele: Onyx Biotec has a strong presence in the pharmaceutical industry, serving over 100 Indian and multinational pharmaceutical companies, including major players like Hetero Healthcare, Mankind Pharma, and Sun Pharmaceuticals. This solid client base reflects trust and reliability in the company’s products and services.
  2. Diversified Product Range: The company offers a comprehensive range of products, including Sterile Water for Injections, Dry Powder Injections, and Dry Syrups, catering to both domestic and international markets. This diversification reduces dependency on a single product and helps mitigate risks associated with market fluctuations.
  3. Manufacturing Capacity: Onyx Biotec operates two manufacturing units in Solan, Himachal Pradesh, with significant production capacities. Unit I can produce over 638,000 units of Sterile Water for Injections daily, and Unit II manufactures 40,000 units of dry powder injections and 26,667 units of dry syrup per day. This robust infrastructure supports scalability and high-demand production.
  4. Certifications: The company has ISO 9001:2015 and ISO 14001:2015 certifications, ensuring high-quality manufacturing practices and environmental compliance, which is crucial for gaining trust from clients and regulatory bodies.

Weaknesses:

  1. Dependence on Contract Manufacturing: Onyx Biotec relies heavily on pharmaceutical contract manufacturing. While this provides steady revenue, it also means the company is dependent on external clients, which could expose it to risks if demand from key clients fluctuates.
  2. Limited Brand Recognition: While Onyx Biotec has a strong clientele, it may not have the same level of brand recognition among end consumers compared to larger pharmaceutical companies. This could impact its ability to capture direct market share outside of contract manufacturing.
  3. Employee Reliance: With 175 employees, the company’s operational success is highly reliant on its workforce. Any disruptions or challenges in human resource management could impact production and business continuity.

Opportunities:

  1. Expanding Global Reach: Onyx Biotec already serves international markets, presenting opportunities for further expansion. The increasing demand for high-quality pharmaceutical products globally, especially in emerging markets, could provide a growth avenue for the company.
  2. Increased Demand for Pharmaceutical Manufacturing: With rising healthcare needs globally, the demand for contract manufacturing services is growing. Onyx Biotec is well-positioned to capitalize on this trend, especially given its manufacturing capacity and experience with large pharmaceutical companies.
  3. Product Innovation and Expansion: The company can explore the development of new pharmaceutical products, enhancing its product portfolio. By expanding into other pharmaceutical areas, such as biologics or over-the-counter medications, Onyx Biotec can diversify its revenue streams.

Threats:

  1. Intense Competition: The pharmaceutical manufacturing industry is highly competitive, with many established players vying for market share. Onyx Biotec faces competition from both large multinational companies and local players, which could impact its growth and profitability.
  2. Regulatory Risks: The pharmaceutical industry is heavily regulated, and any changes in regulations or compliance requirements could affect Onyx Biotec’s ability to operate smoothly. Additionally, delays in obtaining necessary certifications or approvals could impact the company’s market position.
  3. Market Sensitivity: As a contract manufacturer, Onyx Biotec is subject to market volatility and changes in client demand. Economic downturns or shifts in the pharmaceutical industry could result in reduced orders, affecting the company’s financial stability.

Onyx Biotec IPO GMP Details

Onyx Biotec SME IPO last GMP is ₹10, last updated Nov 13th 2024. With the price band of 61.00, Onyx Biotec SME IPO’s estimated listing price is ₹71 (cap price + today’s GMP).The expected percentage gain/loss per share is 16.39%.

**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
13-11-2024 Open 61.00 ₹10  15200 ₹71 (16.39%) 13-Nov-2024
12-11-2024 61.00 ₹10  15200 ₹71 (16.39%) 12-Nov-2024
11-11-2024 61.00 ₹10   15200 ₹71 (16.39%) 11-Nov-2024
10-11-2024 61.00 ₹5  7600 ₹66 (8.2%) 10-Nov-2024
09-11-2024 61.00 ₹5  7600 ₹66 (8.2%) 9-Nov-2024

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

Want to Raise money for your company through SME IPO? Read More

Onyx Biotec IPO subscription status 

Onyx Biotec IPO subscribed 0.38 times. The public issue subscribed 0.70 times in the retail category, 0.00 times in QIB, and 0.14 times in the NII category by November 13, 2024.

Investor Category Subscription (times) Shares Offered* Shares bid for Total Amount (Rs Cr.)* Total Application
Anchor Investors 1 13,66,000 13,66,000 8.333 –
Qualified Institutions 0.00 9,12,000 0 0 0
Non-Institutional Buyers*** 0.14 6,88,000 98,000 0.598 19
Retail Investors 0.70 16,00,000 11,16,000 6.808 558
Total ** 0.38 32,00,000 12,14,000 7.405 577

Note:

  • *: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.

  • **: The portion of anchor investors (or market makers) is not included in the total number of shares offered.

  • ***: Market Maker portion is not included to NII/HNI.

Onyx Biotec IPO Subscription Details (times)

Date QIB NII* Retail Total
Day 1
Nov 13, 2024		 0.00 0.14 0.70 0.38

Onyx Biotec IPO Allotment status 

The allotment status of Onyx Biotec IPO is expected to be available on November 19, 2024.

Onyx Biotec IPO allotment status is not available at this time. Onyx Biotec IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Onyx Biotec Limited IPO allotment status.

To check Onyx Biotec IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Mas Services Limited either by phone or email. Investors can call on (011) 2610 4142 or send an email with all relevant details to ipo@masserv.com.

Onyx Biotec IPO Contact Details

Onyx Biotec Limited
Bir Plassi Near Sainimajraropar,
Nalagarh Road
District Solan – 174101,
Phone: +91 172 265 6384
Email: generalinfo@onyxbiotec.com
Website: http://www.onyxbiotec.com/

Onyx Biotec IPO Lead Manager

  • Horizon Management Private Limited

Onyx Biotec IPO Registrar

Mas Services Limited

Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp

 

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.