amina.finowings
Onyx Biotec Ltd, a pharmaceutical SME IPO established in 2005, is set to launch an IPO worth ₹29.34 crore. This IPO aims to fund capacity expansion, debt repayment, and general corporate needs. The subscription period is from November 13 to November 18, 2024, with an issue price of ₹58 to ₹61 per share.
The company’s product line includes Sterile Water for Injection and various Dry Powder Injections, manufactured across two units in Solan, Himachal Pradesh. Key clients include major pharmaceutical companies like Sun Pharma, Mankind Pharma, and Hetero Healthcare, showcasing Onyx’s strong market reputation.
Financial Performance
Onyx’s financials demonstrate steady growth with revenue from ₹3,961.65 lakh in March 2023 to ₹5,387.43 lakh in March 2024. Its net profit after tax (PAT) improved to ₹303.16 lakh, reflecting strong financial health.
IPO Strengths and Risks
Strengths:
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Well-established in sterile injections and dry powder segments.
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High-capacity manufacturing facilities with significant customer retention.
Risks:
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Heavily regulated industry with fluctuating revenue based on regulatory changes.
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Competitive landscape with numerous pharmaceutical companies.
IPO Listing and Lot Details
The Onyx Biotec Ltd IPO , with a lot size of 2000 shares, will list on the NSE and SME exchanges on November 21, 2024. With a GMP of ₹5, the expected listing price is approximately ₹66.
Investors interested in the healthcare sector may find value in Onyx’s affordable entry price compared to industry peers. However, it’s essential to consider potential regulatory impacts
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