Avience Biomedicals Ltd is launching its maiden SME IPO on the NSE SME platform, offering investors an entry into India's growing in vitro diagnostics and molecular biotechnology space. Here is everything you need to know before the subscription window closes.

Avience Biomedicals IPO Details :-

Detail	Information
IPO Open Date	June 18, 2026
IPO Close Date	June 22, 2026
Price Band	₹196 – ₹208 per share
Face Value	₹10 per equity share
Issue Size	₹30.24 crores (100% fresh issue)
Issue Type	Book Building
Listing Exchange	NSE SME
Allotment Date	June 23, 2026
Refund / Demat Credit	June 24, 2026
Listing Date	June 25, 2026

About the Company: What Avience Biomedicals Does

Avience Biomedicals Limited was incorporated in June 2024 and is engaged in the manufacture, supply, and export of molecular diagnostic products, testing solutions, and laboratory equipment. The company operates in the in vitro diagnostics (IVD) segment, with a focus on molecular biotechnology and genomics.

Its product portfolio spans Rapid Test Kits, Biochemistry Analyzers and Reagents, Molecular Diagnostic solutions, Hematology Analyzers, and other Medical Devices. Its customer base includes pathology labs, microbiology labs, hospitals, and research centres across India, with an overseas distribution presence as well.

The company's manufacturing facility is located in Noida, Uttar Pradesh, and its registered office is in Janakpuri, New Delhi.

Objective of the IPO :-

This is a 100% fresh issue — no offer-for-sale component. The entire ₹30.24 crores raised from investors will be deployed as follows:

Purpose	Amount (₹ Crores)
Setting up a new manufacturing unit at Medical Device Park, YEIDA, Gautam Buddha Nagar, UP	₹15.96
Funding working capital requirements	₹8.25
General corporate purposes	Balance

The new manufacturing unit at the YEIDA Medical Device Park is the centrepiece of the IPO's stated growth plan, aimed at expanding production capacity to meet growing demand.

Market Lot and Application Amounts

Application Category	Lots	Shares	Amount
Retail Minimum	2	1,200	₹2,49,600
Retail Maximum	2	1,200	₹2,49,600
S-HNI Minimum	3	1,800	₹3,74,400
S-HNI Maximum	8	4,800	₹9,98,400
B-HNI Minimum	9	5,400	₹11,23,200

The minimum retail application is 1,200 shares across 2 lots, requiring an investment of ₹2,49,600 at the upper price band. Notably, retail investors are capped at 2 lots — no higher allocation is permitted for this category.

IPO Reservation:

Investor Category	Shares Offered	% of Issue
Anchor Investors	4,09,800	28.19%
QIB (excluding Anchor)	2,73,600	18.82%
NII (HNI)	2,07,000	14.24%
Retail	4,81,200	33.10%

Anchor bidding took place on June 17, 2026, a day before the IPO opened. The anchor lock-in for 50% of allocated shares ends July 23, 2026 (30 days), and the remaining 50% is locked in until September 21, 2026 (90 days).

Promoter Background and Holding Pattern

The promoters of the company are Mr. Dharam Deo Choudhary, Mr. Ram Nagina Choudhary, Mr. Janardan Pal, and Ms. Deepa Choudhary.

	Pre-Issue	Post-Issue
Promoter Holding	40,31,256 shares (87.89%)	54,85,056 shares (64.59%)

Post-IPO, promoter holding will dilute to 64.59% — still a comfortable majority but with meaningful room for public float.

Financial Performance: Revenue Has Nearly Doubled, Profits Are Growing

Period	Revenue (₹ Cr)	Expenses (₹ Cr)	PAT (₹ Cr)	Assets (₹ Cr)
FY2024	₹24.37	₹21.43	₹2.14	₹34.65
FY2025	₹45.97	₹36.17	₹7.23	₹56.52
10M FY2026 (Apr–Jan)	₹41.94	₹34.06	₹5.74	₹66.07

The headline financial story is compelling: revenue nearly doubled from ₹24.37 crores in FY24 to ₹45.97 crores in FY25, and profit after tax grew more than threefold — from ₹2.14 crores to ₹7.23 crores — in just one year. For the first 10 months of FY26, the company has already generated ₹41.94 crores in revenue and ₹5.74 crores in PAT, suggesting the full-year FY26 numbers could be in line with or ahead of FY25.

Key Valuation Metrics (FY2025)

KPI	Value
EBITDA Margin	25.22%
PAT Margin	15.86%
ROCE	24.88%
Return on Net Worth (RoNW)	49.89%
Earnings Per Share (EPS)	₹19.06 (Basic)
Net Asset Value (NAV)	₹56.50 per share
Debt-to-Equity Ratio	0.97

At the upper price band of ₹208, the issue is priced at approximately 3.68x its FY25 book value (NAV of ₹56.50). The EBITDA margin of 25.22% and RoNW of 49.89% are both strong indicators for a company at this stage of growth, but the relatively high debt-to-equity ratio of 0.97 is worth watching, particularly as the company takes on additional financing for its new manufacturing unit.

Peer Comparison: No Direct Listed Comparables

As per the offer documents, Avience Biomedicals has no direct listed peers in the IVD/molecular diagnostics space on Indian exchanges. This makes it difficult to benchmark the issue pricing against comparable market multiples — a fact that investors should factor into their assessment.

Strengths Worth Noting

• Rapid revenue and profit growth over two consecutive years, from a low base

• Strong EBITDA and PAT margins relative to industry norms for a small-cap manufacturer
• Presence in high-growth diagnostic segments including molecular diagnostics, biochemistry, and rapid test kits
• Clear use of IPO proceeds toward productive capex (new manufacturing facility) rather than solely for working capital or promoter exits
• 100% fresh issue — no offer-for-sale component means all proceeds go into the business

Risks to Consider Before Applying

• Very young company: Incorporated only in June 2024, the company has a very limited operating history, with audited financials available only for FY24 and FY25.

• No listed peers: Absence of comparable listed companies makes valuation benchmarking difficult and introduces uncertainty around fair pricing.
• Minimum retail application of ₹2,49,600: This is a relatively high ticket size for a retail SME IPO application, restricting accessibility for smaller investors.
• Debt-to-equity at 0.97: With nearly equal debt to equity, the company's balance sheet leverage is moderate and will need to be managed carefully as it expands.
• Single manufacturing location: Currently dependent on its Noida facility, which adds operational concentration risk until the new YEIDA unit becomes operational.
• Neutral review rating: IPOWatch has assigned a neutral review to this issue, suggesting it is not a clear-cut strong-buy at the current pricing.

Frequently Asked Questions (FAQs)

1. What is the Avience Biomedicals IPO?

It is the maiden SME IPO of Avience Biomedicals Limited, a manufacturer and exporter of molecular diagnostic products, IVD kits, and laboratory equipment. The company is raising ₹30.24 crores through a 100% fresh issue at a price band of ₹196–₹208 per share, to be listed on NSE SME.

2. What are the IPO open and close dates?

The IPO opened for subscription on June 18, 2026 and closes on June 22, 2026.

3. What is the lot size and minimum investment?

The minimum application is 2 lots of 600 shares each, totalling 1,200 shares. At the upper price band of ₹208, the minimum investment works out to ₹2,49,600.

4. When will allotment be finalised?

The basis of allotment will be finalised on June 23, 2026. Refunds and demat credits are expected on June 24, 2026.

5. When will Avience Biomedicals list on the exchange?

The company is scheduled to list on NSE SME on June 25, 2026.

6. What will the IPO proceeds be used for?

The primary use is funding a ne