HVAX Technologies IPO

Established in 2010, HVAX Technologies Limited provides turnkey engineering, procurement, and execution of controlled environment and cleanroom infrastructure, design, engineering, and consulting services to pharmaceutical and healthcare companies. The company supplies the following products manufactured by third parties: - Cleanroom wall panels, Cleanroom ceiling panels, Covings, Riser panels, Cleanroom doors, Flooring systems, Pass boxes, Air showers, LT/HT electrical panels, Pre-fabricated galvanized iron (GI) ducts, Air handling units, Chillers, Building Management Systems (BMS) Equipment, Utility generation and distribution Equipment. The company's customers include pharmaceutical companies, chemical companies, hospitals, healthcare companies, and FMCG companies. HVAX Technologies has completed around 200 projects in India and in 15 countries, namely Algeria, Ethiopia, the United Arab Emirates, Ghana, Kenya, Nepal, New Zealand, Nigeria, Saudi Arabia, Sri Lanka, South Africa, Tanzania, Uganda and Zimbabwe. Further, the Company has executed 53 projects, 48 projects, and 52 projects in FY 2024, FY 2023, and FY 2022 respectively, representing revenue from turnkey projects of Rs. 8445.73 lakhs, Rs. 9,343.63 lakhs, and Rs. 6,632.27 lakhs respectively. Competitive Strengths: Experienced promoters and an experienced management team Consistent implementation expertise Visible growth thanks to a solid order backlog Strong and consistent financial performance supported by a solid internal control and risk management system On August 31, 2024, the company employed 125 permanent employees and 21 temporary and agency workers. 

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: Funding the working capital requirements; and General Corporate Purpose.

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