Onyx Biotec Services IPO Highlights
Onyx Biotec Services is going to launch its IPO. Its opening date is 13 November, 2024. It will close on 18 November, 2024. This is going to be a book-built issue. Through its first public offering (IPO), the company aims to collect about ₹29.34 crores. This is a completely fresh issue of 4810000 shares worth ₹29.34 crores with no offer for sale involved. The company plans to use the funds raised for its business expansion and other corporate purposes.. The face value of shares is ₹10 per equity share. The price band of Onyx Biotec ServicesIPO is between ₹58 to ₹61.
Onyx Biotec Limited, established in 2005, transitioned to a public company in 2024. The company manufactures essential pharmaceutical products, including sterile water for injections, dry powder injections, and dry syrups, catering to both domestic and international markets. With two production facilities in Himachal Pradesh, India, Onyx Biotec ensures its products meet high-quality standards recognized globally.
What is GMP of Onyx Biotec Services IPO Today?
As of November 17, 2024, the Grey Market Premium (GMP) for the Onyx Biotec IPO is ₹15. This indicates that the shares are expected to list at approximately ₹76 per share, showing a potential listing gain of ₹15 or 24.59% over the issue price of ₹61.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Onyx Biotec Services IPO Detail
| IPO Opening and Closing Date | November 13, 2024 to November 18, 2024 |
| IPO Price Range | Rs 58 to Rs 61 Per Share |
| Face Value of Share | Rs 10 Per Share |
| Net Issue Size Offered | 4810000 Shares amounting up to ₹29.34 Cr. |
| Fresh Issue | 4810000 Shares amounting up to ₹29.34 Cr. |
| Offer For Sale | N/A |
| Listing at | NSE SME |
| Issue Type | Book Built Issue IPO |
| IPO DRHP | Click Here |
| IPO RHP | Click Here |
Onyx Biotec Services IPO, Tentative Date Schedule
| IPO Opening Date | 13 November, 2024 (Wednesday) |
| IPO Closing Date | 18 November, 2024 (Monday) |
| Allotment Date | 19 November, 2024 (Tuesday) |
| Refund Initiation | 20 November, 2024 (Wednesday) |
| Credit of Shares in Demat Account | 20 November, 2024 (Wednesday) |
| Listing Date | 21 November, 2024 (Thursday) |
Onyx Biotec Services IPO Financials
| Period | Period Ended 31 May, 2024 | Financial Year 2024 | Financial Year 2023 | Financial Year 2022 |
| Total Assets | 7476.57 | 7413.58 | 5872.36 | 3683.84 |
| Total Revenue | 1054.11 | 5387.43 | 3961.65 | 4498.09 |
| Total Expense | 779.01 | 4546.66 | 3502.40 | 3922.30 |
| Profit After Tax | 130.77 | 303.16 | 184.46 | 335.29 |
| Company’s Net Worth | 2618.64 | 2487.87 | 1820.16 | 1637.59 |
| Total Reserves & Surplus | 1286.42 | 1155.65 | 1230.00 | 1047.43 |
Company Financial Performance Indicators
| Key Performance Indicator | Value (FY 2024) |
| ROCE | 3.71% |
| ROE | 4.99% |
| Price to Book Value | 3.1 |
| EBITDA Margin (%) | 15.41% |
| After Tax Profit Margin (%) | 12.42% |
| Debt to Equity Ratio | 1.21 |
| Return on Net worth | 4.99% |
| Net Asset Value | 18.67 |
Onyx Biotec Services IPO Lot Size for Different Category of Investors:
| Application | Lot | Number of Shares | Amount (in ₹) |
| Retail Investor (Min. Lot) | 1 | 2000 | 122000 |
| Retail Investor (Max Lot) | 1 | 2000 | 122000 |
| HNI (Min. Lot) | 2 | 4000 | 244000 |
Onyx Biotec Services IPO, Investors Reserve Quota
| Shares Reserved for QIB | 49.89% of the Total Issue |
| Shares Reserved for Retail Investors | 35.04% of the Total Issue |
| Shares Reserved for Non-Institutional Investors | 15.07% of the Total Issue |
Cash Flow Generated by the Company
| Net Cash Flow | For the Period Ended May 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Net Cash Flow from Operating Activities | -119.41 | 151.62 | 623.60 | 48.55 |
| Net Cash Flow from Investing Activities | 3.89 | -314.79 | -2,267.19 | -577.59 |
| Net Cash Flow from Financing Activities | 29.02 | 309.11 | 1,642.97 | 519.78 |
| Net Increase/(Decrease) in Cash | -86.50 | 145.94 | -428.95 | -9.26 |
State Wise Revenue generation
| State | May 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Jammu & Kashmir | 84.28 | 281.14 | 166.93 | 105.51 |
| Himachal Pradesh | 470.68 | 1,600.54 | 1,381.05 | 1,739.78 |
| Chandigarh | 0.59 | 27.13 | 3.63 | 0.13 |
| Uttarakhand | 160.37 | 880.15 | 580.48 | 573.93 |
| Haryana | 59.28 | 654.90 | 19.74 | 1.89 |
| Bihar | – | 20.54 | 2.86 | – |
| Sikkim | 16.74 | 305.47 | 352.11 | 622.66 |
| Madhya Pradesh | 85.69 | 817.05 | 1,045.94 | 801.44 |
| Gujarat | 25.15 | 193.23 | 53.87 | 82.78 |
| Daman | 4.31 | 53.72 | 142.93 | 381.99 |
| Maharashtra | 16.07 | 238.07 | 191.50 | 171.31 |
| Tamil Nadu | 6.71 | 21.07 | 2.51 | 3.09 |
| Telangana | 1.22 | 79.05 | 1.13 | 1.07 |
| Delhi | 5.37 | 30.81 | – | – |
| Jharkhand | – | 5.29 | – | – |
| Karnataka | 17.77 | 31.00 | – | – |
| Punjab | – | 3.80 | – | – |
| Rajasthan | 2.28 | 36.27 | – | – |
| Uttar Pradesh | 87.96 | 69.91 | – | – |
| West Bengal | 8.33 | 24.61 | – | – |
| Total Revenue | 1,052.81 | 5,374.88 | 3,948.19 | 4,486.14 |
Revenue from Export Sale
| Country | May 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Nepal | – | 1.13 | 0.93 | – |
| Denmark | – | – | 3.58 | 0.55 |
| Total Export | – | 1.13 | 4.51 | 0.55 |
Product Wise Revenue Generation
| Product | May 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Sterile Water for Injections | 499.04 | 3,200.49 | 3,918.91 | 4,486.14 |
| Dry Powder Injections | 548.53 | 2,053.51 | 26.34 | – |
| Dry Powder Syrup | 5.24 | 120.88 | 2.94 | – |
| Total | 1,052.81 | 5,374.88 | 3,948.19 | 4,486.14 |
Peer Group Comparative Analysis
| Company | EPS (₹) | P/E Ratio | Face Value (₹) |
| Suven Pharma | 11.80 | 83.92 | 1 |
| JB Chemicals | 35.66 | 53.63 | 1 |
| Onyx Biotec Ltd | 2.28 | – | 10 |
Peer Comparison of P/E Ratios
| Metric | P/E Ratio |
| Highest | 94.90 |
| Lowest | 55.30 |
| Average | 75.10 |
Onyx Biotec Services IPO Objectives
The fund raised through this IPO would be used in the following purposes.
- To pay down certain loans and improve financial stability.
- To enhance production capabilities at their existing manufacturing unit.
- To set up advanced packaging lines for efficient processing of products.
- General Corporate Purposes
Onyx Biotec Services IPO Strengths and Weaknesses
Strengths:
- The company has a diverse product range.
- Experienced leadership with deep industry knowledge.
- The company has a solid production infrastructure to make quality products
- The IPO funds will be used for upgrading facilities, that will enhance operational efficiencies.
Weaknesses:
- The company is producing a very limited number of products.
- There’s considerable debt on the company.
- High competition in the pharmaceutical industry could impact profit margins.
- A significant portion of revenue comes from some specific regions which may affect it adversely if demand decreases.
Management & Promoter Group of Onyx Biotec Services
- Naresh Kumar
- Fateh Pal Singh
- Sanjay Jain
| Promoters Shareholding Pre- Issue | 13322200 |
| Promoters Shareholding Post- Issue | 18132200 |
Company Dividend History
The company has not paid dividend to its shareholders in the last three financial years.
Lead Managers of Onyx Biotec Services IPO
The lead manager for Onyx Biotec Limited’s Initial Public Offering (IPO) is Horizon Management Private Limited.
Email: merchantbanking@horizon.net.co
Phone: 033 4067533 | +91 9007364081
Website: www.horizonmanagement.in
Registrar of Onyx Biotec Services IPO
The registrar for Onyx Biotec Limited’s Initial Public Offering (IPO) is Mas Services Limited.
Address: T-34, 2nd Floor, Okhla Industrial Area, Phase II, New Delhi – 110020
Phone: +91 11 26387281/83
Email: ipo@masserv.com
Website:www.masserv.com
Company Contact Detail
SCO 70, 2nd Floor, Sector 30-C,
Chandigarh – 160030, Punjab, India.
Phone: +91 172 265 6384
Email: generalinfo@onyxbiotec.com
Website: www.onyxbiotec.com
Final Assessment
The company’s financial performance cannot be considered very good and is inconsistent, making this IPO not looking very attractive. Investors should thoroughly analyze the IPO before applying and also consider their risk tolerance. Additionally, comparing this IPO with other investment opportunities in the market may provide better insights. It is advisable to consult with a financial advisor to ensure an informed decision, minimizing potential risks and safeguarding their capital.
Frequently Asked Questions About This IPO
1.What is the opening and closing date for the Onyx Biotec Services IPO?
The IPO opens on 13 November, 2024 (Wednesday) and closes on 18 November, 2024 (Monday).
2. What is the price band for the Onyx Biotec Services IPO?
The price band for the Onyx Biotec Services IPO is set between ₹58 and ₹61 per share
3. What is the minimum lot size for retail investors in the Onyx Biotec Services IPO?
Retail investors need to bid for a minimum of 2000 shares, which amounts to an investment of ₹122,000
4. Who are the lead managers for this IPO?
The lead manager for Onyx Biotec Limited’s Initial Public Offering (IPO) is Horizon Management Private Limited.
5. Who is the registrar for the Onyx Biotec Services IPO?
The registrar is Mas Services Limited.
6. What are the main objectives of the IPO?
The funds will primarily be used to pay certain loans, to enhance production capacities and for working capital requirements.
7. On which stock exchanges, the shares will be listed?
The shares will be listed on the NSE SME Exchange.
8. What is the total issue size for the Onyx Biotec Services IPO?
The total issue size is 4810000 equity shares worth 29.34 Cr.
9. When will the allotment and refund process begin?
The allotment is scheduled for 19 November, 2024, and refunds will begin on 20 November, 2024.
10. When will the shares be credited to the Demat account?
Shares will be credited to investors’ Demat accounts on 20 November, 2024.
11. What is the expected listing date for the IPO?
The shares are expected to list on the stock exchange on 21 November, 2024 (Thursday).
12. How to apply in this IPO through Upstox mobile app?
- Log in to the Upstox app using your 6-digit PIN or by verifying through bio-metrics.
- Accept the SEBI-mandated Risk Disclosure on derivatives.
- Click on the Discover button in the app.
- Click on the IPO tab to view a list of ongoing IPOs with their price bands and other details.
- Select the IPO you want to apply for and click on the Apply button.
- Enter the number of lots you want to apply for.
- Tick the option for Apply at Cut-Off Price or specify the price at which you want to apply.
- Click on Continue and enter your UPI ID.
- Accept the terms and conditions.
- Click on the Confirm button to finalize your application.
- Approve the mandate request in your UPI app to complete the payment process.
13. How to apply in this IPO through Zerodha Kite mobile app?
- Log in to the Zerodha Kite app using your User ID and password or by verifying through biometrics.
- Accept the SEBI-mandated Risk Disclosure on derivatives.
- Click on the Bids tab at the bottom of the app.
- Click on the IPO tab to view a list of ongoing IPOs along with their price bands and other details.
- Select the IPO you want to apply for and click on the Apply button.
- Enter your UPI ID linked to your bank account.
- Tick the option for Apply at Cut-Off Price or specify the price at which you want to apply.
- Enter the quantity of shares you want to bid for.
- Drag the Submit button to the right to confirm your application.
- Open your UPI app and approve the mandate request to complete the payment process.
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Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Onyx Biotec Services IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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