Considering the upper price band of 458, the stock is expected to list with marginal gains of just 5%.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The net proceeds from the public offer will be used for funding working capital requirements and general corporate purposes.
The company has developed from its origins of acting as a HVAC project contractor and gained expertise in undertaking turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms
While its primary customers are pharmaceutical companies, other clients also include chemical companies, hospitals, healthcare companies, and FMCG companies.HVAX Tech is engaged in the business of turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms. It sells and supplies the equipment as a part of turnkey projects.The company engages with customers directly and also indirectly as a sub-contractor to the main contractor where it is assigned specific work scope.
The India cleanroom panels market is witnessing substantial growth, driven by increasing demand for contamination-free manufacturing environments in industries like pharmaceuticals, biotechnology, electronics, and healthcare.
For the year ended March 2024, the company clocked total revenues of Rs 106 crore and net profit of Rs 9.39 crore.
