The scrip was listed at Rs 54.05, a discount of 11.39% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% compared to its listing price.

The counter hit a high of Rs 56.75 and a low of Rs 51.45. About 6.52 lakh shares of the company changed hands at the counter.

Onyx Biotec's IPO was subscribed 184.60 times. The issue opened for bidding on 13 November 2024 and it closed on 18 November 2024. The price band of the IPO was set at Rs 58 to Rs 61 per share.

The IPO comprised fresh issue of 48,10,000 shares. The promoter and promoter group shareholding diluted to 65.10% from 88.60% pre-IPO.

The company intends to utilize the net proceeds for up gradation of existing manufacturing unit I to manufacture large volume parental for intravenous use, setting up a high-speed cartooning packaging line at existing manufacturing unit II for dry powder injections, prepayment or repayment of all or a portion of certain loans availed by company and for general corporate purpose.

Ahead of the IPO, Onyx Biotec on 12 November 2024, raised Rs 8.33 crore from anchor investors. The board allotted 13.66 lakh shares at Rs 61 per share to 3 anchor investor.

Onyx Biotec is a pharmaceutical company providing sterile water for injections. The company currently manufactures sterile water for injections and serves as a pharmaceutical contract manufacturer, offering a comprehensive range of dry powder injections and dry syrups for both the Indian and overseas markets. The company has two manufacturing units in Solan, Himachal Pradesh. Unit I has a daily production capacity of 638,889 units of sterile Water for Injections, while Unit II produces 40,000 units of dry powder injections and 26,667 units of dry syrup per day in a single shift. As of 31 July 2024, the company had 175 employees on payroll

The company recorded revenue from operations of Rs 10.52 crore and net profit of Rs 1.30 crore for the period as on 31 May 2024.

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