Avience Biomedicals IPO subscribed 43.16x
Avience Biomedicals Limited's SME IPO was subscribed 43.16 times, with retail investors subscribing 57.64 times and NIIs over 66 times. The issue, open from June 18 to June 22, 2026, aims to raise ₹24.21 crore for a greenfield manufacturing unit and working capital. The company reported an 88.81% revenue growth in FY2025 and a 237.85% surge in net profit.
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Avience Biomedicals Limited's initial public offering (IPO) was subscribed 43.16 times, driven by exceptional demand from retail and non-institutional investors. The SME IPO, which opened on June 18, 2026, and closed on June 22, 2026, aimed to raise funds for establishing a greenfield manufacturing unit and working capital requirements. The company manufactures and trades In Vitro Diagnostic (IVD) products and medical devices, targeting WHO compliance for global market access.
Subscription Details
The issue received robust interest across specific investor categories. Retail investors led the subscription with 57.64 times, while Non-Institutional Investors (NIIs) also showed significant participation. The subscription data indicates the following breakdown:
| Investor Category | Subscription Level |
|---|---|
| Retail | 57.64 x |
| Non-Institutional Buyers (bHNI) | 66.52 x |
| Non-Institutional Buyers (sHNI) | 66.46 x |
| Qualified Institutional Buyers (QIB) | 0.02 x |
| Employees | 0 x |
| Total Subscribed | 43.16 x |
Financial Performance
The company demonstrated strong top-line growth in the previous fiscal year. Revenue from operations increased from ₹23.96 crore in FY2024 to ₹45.24 crore in FY2025, representing a growth of 88.81%. Net profit for the same period surged from ₹2.14 crore to ₹7.23 crore, marking a 237.85% increase. For the ten-month period ended January 31, 2026, the company recorded a revenue of ₹41.84 crore and a net profit of ₹5.74 crore.
| Period | Revenue from Operations (₹ Cr) | Net Profit (₹ Cr) | YoY Growth |
|---|---|---|---|
| FY2024 | 23.96 | 2.14 | NA |
| FY2025 | 45.24 | 7.23 | +88.81% |
| 10M FY2026 | 41.84 | 5.74 | NA |
Objects of the Issue
The proceeds from the fresh issue are allocated towards specific capital expenditures and operational needs. The total identified use of proceeds includes ₹15.96 crore for capital expenditure and ₹8.25 crore for funding working capital requirements. The new manufacturing facility will be located at Industrial Plot No. 70, Sector 28, Medical Device Park, YEIDA, Gautam Buddha Nagar, Uttar Pradesh.
| Purpose | Amount (₹ Crore) |
|---|---|
| Capital Expenditure | 15.96 |
| Funding Working Capital | 8.25 |
| Total Identified | 24.21 |
Risk Factors
The DRHP highlights several material risks that potential investors must consider. The company reported a negative net cash flow of ₹3.19 crore for the ten-month period ended January 31, 2026, driven by investing outflows. Additionally, there is a high dependency on trading activities, which contributed 68.44% of revenue as of January 31, 2026. The operations are also geographically concentrated, with the top three states—Delhi, Uttar Pradesh, and Haryana—accounting for 85.12% of domestic revenue.
Operational Overview
Avience Biomedicals operates in the medical consumables sector, catering to pathology labs, hospitals, and research centers. The product portfolio includes diagnostic kits, serology products, and biochemistry analyzers. The company holds certifications such as ISO 13485, ISO 9001, CE marking, and GMP. While the company has expanded its international presence to markets including Dubai, Ethiopia, and Nepal, it remains reliant on imports from China for a portion of its raw materials, ranging from 5.18% to 31.33% of total procurement in recent years.
How will the company mitigate the risks associated with its heavy reliance on imports from China for raw materials?
What is the expected timeline for the new greenfield manufacturing facility to become fully operational?
Will the company reduce its dependency on trading activities as the new manufacturing unit ramps up production?
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