As the Onyx Biotec IPO approaches its closing date on November 18, 2024, investors are closely monitoring its performance. The IPO has garnered significant interest, with a subscription status of 9.95 times as of November 14, 2024. This article delves into the latest subscription details, grey market premium (GMP), company financials, important dates, and expert opinions to provide a comprehensive overview for potential investors.
Current Subscription Status
The Onyx Biotec IPO has shown robust demand in certain investor categories:
- Qualified Institutional Buyers (QIB): 0.00 times
- Non-Institutional Investors (NII): 8.15 times
- Retail Investors: 16.40 times
Total Subscription Metrics
| Investor Category | Shares Offered | Shares Bid for | Subscription (times) |
|---|---|---|---|
| Qualified Institutions | 912,000 | 0 | 0.00 |
| Non-Institutional Buyers | 688,000 | 5,606,000 | 8.15 |
| Retail Investors | 1,600,000 | 2,624,000 | 16.40 |
| Total | 3,200,000 | 3,184,600 | 9.95 |
The overall subscription reflects strong retail interest despite a lack of participation from QIBs.
Grey Market Premium (GMP)
As of November 14, the GMP for Onyx Biotec shares is currently at ₹15, indicating that the shares are expected to list at around ₹76 against the issue price of ₹61. This premium suggests positive sentiment among investors and indicates potential listing gains.
Company Financial Overview
Onyx Biotec has demonstrated strong financial growth:
- For the financial year ending May 31, 2024, the company reported revenue from operations of ₹53.74 crore, marking a significant increase from ₹39.48 crore in FY23.
- Profit After Tax (PAT) also saw substantial growth, rising to ₹3.03 crore in FY24 from ₹1.84 crore in FY23.
The company’s focus on producing sterile pharmaceutical products positions it well within the growing healthcare sector.
Important Dates for Onyx Biotec IPO
Investors should be aware of the following key dates related to the Onyx Biotec IPO:
- IPO Open Date: November 13, 2024
- IPO Close Date: November 18, 2024
- Basis of Allotment Date: November 19, 2024
- Credit to Demat Accounts: November 20, 2024
- IPO Listing Date: November 21, 2024
These dates are crucial for tracking application statuses and preparing for trading post-listing.
Should You Apply?
Given the current subscription status and GMP trends, potential investors may wonder whether they should apply for the Onyx Biotec IPO. Here are some considerations:
- Strong Retail Demand: The retail portion has been oversubscribed significantly at 16.40 times, indicating strong interest from individual investors.
- Positive GMP: The current GMP of ₹15 suggests that there may be favorable listing gains upon debut on the stock exchange.
- Lack of QIB Participation: The absence of subscriptions from QIBs raises some concerns about institutional confidence in the offering.
Expert Opinions
Several analysts have provided insights regarding the Onyx Biotec IPO:
- Some experts recommend applying for the IPO due to its strong retail demand and positive GMP trends.
- Others caution that the lack of institutional interest could signal potential risks in long-term performance.
Conclusion
The Onyx Biotec IPO is shaping up to be an interesting opportunity for retail investors with its strong subscription numbers and positive grey market sentiment. However, potential investors should weigh their options carefully and consider both market conditions and expert opinions before making investment decisions.
Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Readers are encouraged to conduct their own research or consult with certified financial advisors before making any investment decisions based on market trends or stock performances.
