Onyx Biotec shares listed with about 11 percent discount below it IPO price on the NSE SME platform on November 22, Friday. The Punjab-based company manufactures sterile water for injections.
The shares of the company were listed at Rs 54.05 per share on the NSE SME against its IPO price of Rs 61 at a discount of 11.39 percent.
The company plans to spend Rs 6.08 crore out of net IPO proceeds for the upgradation of its existing manufacturing to manufacture large volume parentals for intravenous use, which will be sold under the Onyx brand name to pharma companies, distributors, stockist and hospitals.
With two manufacturing facilities in Himachal Pradesh, Onyx Biotec also acts as a pharmaceutical contract manufacturer offering dry powder injections and dry syrup.
It holds longstanding relationships with several clients in the pharmaceutical industry including Hetero Healthcare, Mankind Pharma, Sun Pharmaceutical Industries, Aristo Pharmaceuticals, Macleods Pharmaceuticals, Mapra Laboratories, Axa Parenterals, FDC, Zuventus Healthcare, Akums Drugs and Pharmaceuticals among others.
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