Onyx Biotec Limited IPO

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Onyx Biotec Limited is a pharmaceutical company incorporated on May 13, 2005, initially as Onyx Biotec Private Limited under the Companies Act, 1956. The company transitioned to a public limited entity following board and shareholder resolutions passed in May 2024, and its name was updated to Onyx Biotec Limited with a fresh certificate of incorporation issued on July 23, 2024.

Core Operations

Onyx began its pharmaceutical journey in 2010 with the production of sterile water for injections. Over the years, the company has established itself as a reliable supplier of sterile pharmaceutical products to leading pharmaceutical corporations across India and internationally.

Product Portfolio:

i. Sterile Water for Injections: A flagship product, ensuring high-quality standards.
ii. Dry Powder Injections: Contract manufacturing for Indian and overseas markets.
iii. Dry Syrups: A robust offering catering to diverse pharmaceutical needs.

Onyx adheres to FDA best practices, maintaining rigorous quality standards through constant testing at in-house and FDA-certified laboratories. The company also provides end-to-end product development and manufacturing solutions, including regulatory dossier preparation and filing for Indian and global markets.

Commitment to Excellence

Onyx Biotec is dedicated to providing high-quality pharmaceutical products at affordable prices. The company continues to expand its offerings and maintain its reputation as a trusted partner for pharmaceutical manufacturing, contributing to the healthcare industry both in India and internationally.

Objects of the Onyx Biotec Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: i. Upgradation of existing manufacturing Unit I to manufacture large volume parentals for intravenous use; ii. Setting up a high-speed cartooning packaging line at existing manufacturing Unit II for Dry Powder Injections; iii. Prepayment or repayment of all or a portion of certain loans availed by the Company; and iv. General Corporate Purposes.
DRHP of Onyx Biotec Limited IPO
RHP of Onyx Biotec Limited IPO

Onyx Biotec Limited IPO Details:

Open Date: Nov 13 2024
Close Date: Nov 18 2024
Total Shares: 4,810,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 29.34 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 58 - 61 Per Equity Share
Listing At: NSE Emerge
Listing Date: Nov 22 2024

Promoters And Management:

Sanjay Jain, 62, is a Promoter and Managing Director of the Company, with over 16 years of experience in the pharmaceutical industry, including product development, distribution, and marketing. As the driving force behind the Company, he oversees its overall management and has been instrumental in its growth. He has been associated with the Company since May 27, 2008, and became Managing Director on July 23, 2024. Naresh Kumar, 60, is a Promoter and Whole-time Director of the Company with over 16 years of experience in the pharmaceutical industry, specializing in product development, distribution, and marketing. He currently oversees manufacturing operations at Unit I and has been instrumental in the Company’s growth and development. Harsh Mahajan, 37, is a Promoter, Whole-time Director, CEO, and CFO of the Company. Holding a commerce degree from Punjab University and an MBA from the University of Wales, he has over 5 years of experience in the pharmaceutical industry. He currently oversees operations at Unit I and Unit II, along with business strategy, risk management, finance, accounting, and marketing.

Financials of Onyx Biotec Limited IPO:

Particulars For 2MFY25 FY 2023-24 FY 2022-23 FY 2021-22
Revenue 10.52 53.74 39.48 44.86
EBITDA 2.74 8.28 4.46 5.63
EBITDA Margin 26.04%* 15.40% 11.29% 12.55%
PAT 1.30 3.03 1.84 3.35
PAT Margins 12.35% 5.63% 4.66% 7.46%
CFOA (1.19) 1.51 6.23 0.48

Comparison With Peers:

The peer company details given in  the RHP is pharma company but their products are not same as the Onys Biotech Limited. So this comparison is not feasible.
Companies Revenue EBITDA PAT MCap P/E
Onyx Biotec Limited (FY 2024) 53.74 Cr. 8.28 Cr. (15.40%) 3.03 Cr. (5.63% 110.61 Cr. 36.50
Suven Pharma (TTM) 934 Cr. 318 Cr. (34.04%) 240 Cr. (25.70%) 31,065 Cr. 129
JB Chemicals (TTM) 3,711 Cr. 972 Cr. (26.19%) 611 Cr. (16.46%) 27,504 Cr. 45

Recommendation on Onyx Biotec Limited IPO:

Review and Recommendation of Onyx Biotech Ltd by team IZ is 3/10.

Lead Manager of Onyx Biotec Limited IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Onyx Biotec Limited IPO:

  1. MAS Services limted

Company Address:

Onyx Biotec Limited Bir Plassi Near Sainimajraropar, Nalagarh Road District Solan – 174101, Phone: +91 172 265 6384 Email: generalinfo@onyxbiotec.com Website: http://www.onyxbiotec.com/

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