Onyx Biotec IPO Closed
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Schedule of Onyx Biotec
| Issue open date | 13 Nov 2024 |
| Issue close date | 18 Nov 2024 |
| UPI mandate deadline | 18 Nov 2024 (5 PM) |
| Allotment finalization | 19 Nov 2024 |
| Refund initiation | 20 Nov 2024 |
| Share credit | 20 Nov 2024 |
| Listing date | 21 Nov 2024 |
| Mandate end date | 02 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 19 Dec 2024 |
| Lock-in end date for anchor investors (remaining) | 17 Feb 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Onyx Biotec
Onyx Biotec Limited, established in 2005 and converted to a public company in 2024, specializes in manufacturing sterile pharmaceutical products like sterile water for injections and dry powder injections, serving top pharma clients across India and overseas. With two manufacturing facilities in Himachal Pradesh accredited by WHO-GMP, the company follows strict quality controls and sustainable practices. It plans to enhance Unit I for large-volume parental production and Unit II with a high-speed packaging line, improving operational efficiency and cost. Led by experienced promoters, Onyx is committed to delivering affordable, high-quality healthcare solutions, maintaining strong client relationships, and adhering to ISO and GMP standards to ensure quality, safety, and customer satisfaction.
Financials of Onyx Biotec
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹29.34 crores |
| Fresh Issue | ₹29.34 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Upgradation of existing manufacturing Unit I | 6.08 (20.72%) |
| High-speed cartooning packaging line at Unit II | 1.24 (4.23%) |
| Prepayment or repayment of loans | 12 (40.90%) |
| General corporate purposes | 10.02 (34.15%) |
Strengths
- Leading contract manufacturer specializing in sterile pharmaceutical production.
- Rigorous Quality Assurance and Quality Control processes ensure high product standards.
- Established, long-term relationships with top-tier clients in the pharmaceutical industry.
- Cost-efficient production processes with a focus on timely order fulfilment.
- Experienced management team with strong project management and implementation expertise.
Risks
- Region-specific risks in Solan, Himachal Pradesh could impact operations.
- Manufacturing disruptions could harm financial health and cash flow.
- Reliance on third-party suppliers risks supply delays or shortages.
- Heavy dependence on key clients makes revenue vulnerable to client loss.
- Pharmaceutical industry downturns could reduce demand for products.
- Quality or delivery issues may lead to order cancellations and financial loss.