Avience Biomedicals IPO Sees Near 10x Subscription: Diagnostics Player Seeks Major Expansion Capital

Avience Biomedicals IPO Sees Near 10x Subscription: Diagnostics Player Seeks Major Expansion Capital​

Avience Biomedicals, a rising star in the diagnostic solutions space, has witnessed a resounding success on its maiden day of bidding. The initial share sale attracted significant investor interest, achieving a massive 9.68 times subscription as of June 18.

The IPO sought to raise ₹30.2 crore through the issuance of 14.53 lakh shares. Bidders included 6,857 applications for a total of 1.01 crore shares. The offering price range was set at ₹196-₹208 per share.

Investor Reception and Offer Details​

The strong investor response spanned across various segments of the market. Non-institutional investors (NITs) bid at 13.4 times their allotted quota. Similarly, the portion dedicated to retail investors saw an even higher subscription rate of 15.2 times.

Qualified institutional buyers have not yet participated in this public offer. The maiden public issue remains open for interested parties until June 23. Fintellectual Corporate Advisors is serving as the merchant banker for Avience Biomedicals' IPO.

Capital Raise and Anchor Investment​

The company had already secured substantial funding before the public offering. Avience Biomedicals successfully raised ₹8.52 crore through anchor investments. These shares were issued to four key investors: Sanshi Funds, Meru Investment Fund, Fortune Hands Growth Fund Scheme, and Shine Star Build Cap at a price of ₹208 per share.

Strategic Use of IPO Proceeds​

The capital generated from the IPO will be strategically deployed for expansion and operational strengthening. A significant portion of the proceeds, totaling ₹15.95 crore, is earmarked for setting up a new manufacturing unit. This facility will be located in the Medical Device Park under the Yamuna Expressway Industrial Development Authority (YEIDA) in Gautam Buddha Nagar, Uttar Pradesh.

An additional amount of ₹8.25 crore will be allocated to meeting working capital requirements. The remaining funds are designated for general corporate purposes across the organization.

Financial Health and Growth Trajectory​

Financially, Avience Biomedicals has demonstrated a robust growth trajectory. For the 10-month period ending January 2025, the company recorded revenue of ₹41.8 crore and a profit of ₹5.7 crore.

The financial performance continued to strengthen in the subsequent year. In the fiscal year ended March 2025, the company achieved a surge in profitability. Net profit rose by more than three-fold to ₹7.2 crore from ₹2.14 crore in the preceding year. Revenue during that same period also surged by 88.8 percent, reaching ₹45.2 crore from ₹24 crore.