Onyx Biotec IPO Debuts On NSE With 11% Discount, Hits 5% Upper Circuit; Investors Suffer Loss ₹13,900 On Each Lot

After a outstanding IPO subscription, Onyx Biotec Ltd. shares were listed on the NSE on Monday at a discount of 11.39 per cent at Rs 54.05 per share. However, the shares experienced a surge shortly after the listing, which caused them to hit upper circuit of 5 per cent to their day high of Rs 56.75 per share.

At the moment, the share was trading on the National Stock Exchange (NSE) for Rs 56.75 per share. was experiencing a upper circuit of 5 per cent, amounting to Rs 2.70 per share, on the NSE SME exchange.

Listing for Invetors

The listing was mundane to investors who were allotted IPO shares as well. The minimum bid amount for retail investors in the IPO was Rs 1,22,000 comprising of 2000 shares in a single lot. Investors in Onyx Biotec primary issue who were allotted at least one lot at the NSE listing price would have lost Rs 13, 900 per lot.

The listing price of Rs 54.05 meant that the single lot was worth Rs 1,08,100 (Rs 54.05 x 2000), while the issue price was Rs 1,22,000 (Rs 61 x 2000).

Onyx Biotec IPO details

Subscription details

The IPO investors applied for over 63.38 crore shares of Onyx Biotec, which is 198.08 times the total number of shares available for subscription, compared to the 32 lakh shares that were available.

The retails invesetors subscribed over 118.25 times, Qualified Instituitonal Buyers (QIB), bid more than 32.49 times on the other hand the Non-Institutional Investors subscribed to the issue more than 603.21 times.

IPO Size and price band

At Rs 29.34 crore, the Onyx Biotec IPO is a book-building issue. There are 48.1 lakh newly issued shares available for purchase. Rs 58 to Rs 61 per share is the price range for the initial public offering (IPO).

Subscription timeline

Subscriptions for the Onyx Biotec IPO were being accepted from Wednesday, November 13 through Monday, November 18.

On Tuesday, November 19, the status of the IPO share allocation was finalised.