Incorporated in May 2005, Onyx Biotec Limited is a pharmaceutical company providing sterile water for injections. The company currently manufactures Sterile Water for Injections and serves as a pharmaceutical contract manufacturer, offering a comprehensive range of Dry Powder Injections and Dry Syrups for both the Indian and overseas markets.
The company has two manufacturing units in Solan, Himachal Pradesh. Unit I has a daily production capacity of 638,889 units of Sterile Water for Injections, while Unit II produces 40,000 units of dry powder injections and 26,667 units of dry syrup per day in a single shift.
The company clientele includes Hetero Healthcare Limited, Mankind Pharma Limited, Sun Pharmaceutical Industries Limited, Aristo Pharmaceuticals Private Limited, Macleods Pharmaceuticals Limited, Mapra Laboratories Private Limited, Axa Parenterals Limited, FDC Limited, Zuventus Healthcare Limited, Akums Drugs and Pharmaceuticals Limited, Reliance Life Sciences Limited, among others.
As of May 31, 2024, the company had a client base of more than 100 Indian and multinational pharmaceutical companies.
The company has received certificates for the management system, ISO 9001:2015, and ISO 14001:2015 from ROHS Certification Private Limited.
As of July 31, 2024, the company has 175 employees across various departments.
| Purpose | Amount (₹ Cr) |
|---|---|
| Upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use | — |
| Setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections; | — |
| Prepayment or repayment of all or a portion of certain loans availed by the Company; and | — |
| General Corporate Purposes. | — |
| Metric | 31 May 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 7,477 | 7,414 | 5,872 |
| Revenue | 1,054 | 5,387 | 3,962 |
| PAT | 131 | 303 | 184 |
| Net Worth | 2,619 | 2,488 | 1,820 |
| Reserves | 1,286 | 1,156 | 1,230 |
| Total Borrowing | 3,156 | 3,078 | 2,923 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 2,278,000 (47%) | — |
| NII / HNI | — | 688,000 (14%) | — |
| Retail (RII) | — | 1,600,000 (33%) | — |
| Market Maker | — | 244,000 (5%) | — |
| Total | — | 4,810,000 (100%) | — |
* Amount calculated at upper price band (₹61) · ** Total includes all investor categories
- 1 Initiation of Refund 20 Nov 2024
- 2 Credit of Shares to Demat 20 Nov 2024
- Retail allocation is good at 33% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 47%.
- The IPO P/E of 14x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹2 compares to post-issue EPS of ₹4 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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