HVAX Technologies IPO

HVAX Technologies Ltd

₹1,30,500 /300 sharesMinimum Investment

HVAX Technologies IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹458.00₹486.00₹28.00 (6.11%)

HVAX Technologies IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
27 Sep ‘24 - 1 Oct ‘24₹1,30,500300₹435 - ₹458
Issue SizeIPO Doc
33.53Cr
RHP PDF

Subscription rate

As of 01 Oct'24, 05:00 PM
Qualified Institutional Buyers0.00x
Non-Institutional Investor0.00x
Retail Individual Investor0.00x
Total22.08x

About HVAX Technologies

HVAX Technologies began in 2010 as a heating, ventilation, and air conditioning (HVAC) project contractor and has since evolved to concentrate on engineering, procurement, and execution of controlled environment infrastructure and cleanrooms. The company is now involved in turnkey projects and offers designing, engineering, and consulting services for the pharmaceutical and healthcare sectors. As part of its turnkey solutions, HVAX Technologies supplies third-party manufactured products, including cleanroom wall panels, ceiling panels, covings, riser panels, cleanroom doors, flooring systems, pass boxes, air showers, LT/HT electrical panels, prefabricated galvanised iron (GI) ducts, air handling units, chillers, building management systems (BMS) equipment, and utility generation and distribution equipment.;
Founded in
2010
Managing director
Mr. Prayagdatt Mishra
Parent organisation
HVAX Technologies Ltd

Strengths & Financials of HVAX Technologies

Strengths
Risks
Since its inception, the company has completed around 200 projects in India and 15 other countries, including Algeria, Ethiopia, the UAE, Ghana, Kenya, Nepal, New Zealand, Nigeria, Saudi Arabia, Sri Lanka, South Africa, Tanzania, Uganda, and Zimbabwe.
In its design, engineering, and consultancy service vertical, HVAX Technologies provides a range of offerings, including engineering consultancy, gap analysis and validation, containment consultancy, technology transfer, and project feasibility studies for clients in the pharmaceutical sector.
The company is ISO 9001:2015 certified for quality management systems and claims that its quality control systems comply with ROHS certifications.
The company claims to have a strong order book, with ongoing projects valued at approximately Rs 153.64 crore as of August 1, 2024.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 68.26 crore in FY22 to Rs 95.93 crore in FY23 to Rs 106.06 crore in FY24, while PAT increased from Rs 4.18 crore in FY22 to Rs 5.20 crore in FY23 to Rs 9.39 crore in FY24.
The company’s revenue generation is dependent on a few customers. The top 10 customers contributed Rs 73.29 crore (69.10%), Rs 83.30 crore (86.83%), and Rs 61.06 crore (89.46%) to revenue from operations in FY24, FY23, and FY22, respectively. Any loss of these customers, a failure to retain them, or a decrease in demand for the company’s services can adversely harm the company’s operations and finances.
HVAX Technologies also depends on a small group of suppliers for its products. The top 10 suppliers contributed Rs 37.95 crore (56.14%), Rs 40.25 crore (58.12%), and Rs 32.96 crore (60.83%) to total purchases in FY24, FY23, and FY22, respectively. The loss of any major supplier could disrupt the company’s operations.
A significant portion of new orders is generated through relationships with both current and former customers. Revenue from existing customers totalled Rs 47.61 crore, Rs 60.27 crore, and Rs 43.80 crore in FY24, FY23, and FY22, respectively. Meanwhile, revenue from new customers amounted to Rs 58.44 crore, Rs 35.66 crore, and Rs 24.46 crore in FY24, FY23, and FY22. Any failure to maintain strong relationships with existing customers or to establish new ones can negatively impact the company’s financial standing.
As of March 31, 2024, the company’s total borrowings, including short- and long-term, amounted to Rs 24.37 crore. Any inability to service or repay these loans can be detrimental to the company’s financial standing.
The company, its promoters, and its directors are involved in some ongoing legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.

HVAX Technologies Financials

*All values are in Rs. Cr
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Application Details of HVAX Technologies IPO

Apply asPrice bandApply Range
Regular435 - 458₹2 - 5 Lakh
High Networth Individual435 - 458₹2 - 5 Lakh
For HVAX Technologies IPO, eligible investors can apply as Regular.