Onyx Biotec IPO debuts on NSE at 11% discount and reaches 5% on top; Investors suffer losses of £13,900 on each lot

Following an unsubscribed IPO, shares of Onyx Biotec Ltd. were listed on the NSE on Monday at a discount of 11.39 percent at Rs 54.05 per share. However, soon after listing, the stock surged, taking it to the upper limit of 5 percent and touching an intraday high of Rs 56.75 per share.

The stock was currently trading at Rs 56.75 per share on the National Stock Exchange (NSE). NSE SME witnessed a 5 percent cap of Rs 2.70 per share.

Listing for investors

The listing was business as usual for investors, who were also given IPO shares. The minimum application amount for retail investors in the IPO was Rs 1,22,000, including 2,000 shares in one lot. Investors in the primary issue of Onyx Biotec who were allocated 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 price per lot was Rs 1,08,100 (Rs 54.05 x Rs 2,000) and the issue price was Rs 1,22,000 (Rs 61 x Rs 2,000).

Onyx Biotec IPO details

Subscription details

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.

Retail investors subscribed to the issue over 118.25 times, qualified institutional buyers (QIBs) placed bids over 32.49 times and non-institutional investors subscribed to the issue over 603.21 times.

IPO size and price range

Onyx Biotec’s Rs 29.34 crore IPO is a paper issue. There are 48.1 million newly issued shares available for purchase. The initial public offering (IPO) price range is between Rs 58 and Rs 61 per share.

Subscription schedule

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

Listing Onyx Biotek | NSE X account

On Tuesday, November 19, the status of the IPO was finally determined.