The IPO of Avience Biomedicals, a Noida-based molecular diagnostics manufacturer, will open for subscription on Thursday, with the issue priced in a band of Rs 196 to Rs 208 per share. The IPO will remain open until June 22, with allotment expected on June 23 and listing on the NSE SME platform slated for June 25.
The grey market premium (GMP) for the issue stood at 36% ahead of the opening, implying an unofficial market price of around Rs 283 against the upper end of the issue band, a premium of roughly Rs 75 per share. A GMP of this magnitude points to strong pre-listing demand and suggests investors are pricing in a healthy listing-day gain, a sharp contrast to the muted grey market activity seen in several other SME issues opening this week.
The Rs 30.24-crore issue is entirely a fresh issue of 14,53,800 shares, with no offer-for-sale component, meaning the entire proceeds will flow to the company. Of this, 13,71,600 shares are on offer to the public after excluding 82,200 shares reserved on a firm basis for market maker Asnani Stock Broker.
Within the net public offer, qualified institutional buyers have been allocated the largest share at 49.83%, including a sizeable anchor investor portion of 28.19% of the total issue, while retail investors have been allocated 35.08% and non-institutional investors the remaining 15.09%.
The lot size has been fixed at 600 shares, requiring retail investors to commit a minimum of 1,200 shares, or Rs 2,49,600, at the upper end of the price band. For high-net-worth individual investors, the minimum application has been set at 3 lots, or 1,800 shares, amounting to roughly Rs 3,74,400.
Avience Biomedicals was incorporated in June 2024 and is an ISO-certified manufacturer of molecular diagnostic solutions, with a focus on biotechnology, genomics and the in-vitro diagnostics (IVD) industry. The company's product range spans rapid test kits for conditions such as dengue, malaria and syphilis, biochemistry analysers and reagents, Covid-19 detection kits, hematology analysers, and medical devices including oxygen concentrators.
It operates exclusively in the B2B and B2G space, serving pathology labs, microbiology labs, hospitals and research centres in India and overseas, alongside a distribution and trading business for medical equipment. The company's manufacturing facility is located in Noida, Uttar Pradesh, and it employed 75 permanent and 33 contractual staff as of January 2026.
Financially, the company has posted strong but uneven growth. Revenue rose sharply from Rs 24.37 crore in FY24 to Rs 45.97 crore in FY25, while profit after tax grew from Rs 2.14 crore to Rs 7.23 crore over the same period. For the ten months ended January 2026, the company reported total income of Rs 41.94 crore and profit after tax of Rs 5.74 crore.
The company plans to use the IPO proceeds primarily towards capital expenditure for a new manufacturing unit at the Medical Device Park under the Yamuna Expressway Industrial Development Authority in Gautam Buddha Nagar, Uttar Pradesh, estimated at Rs 15.96 crore, along with working capital requirements of Rs 8.25 crore.
