IPO Date: Jun 18 to Jun 22 2026
Listing Date: Jun 25 2026
1. Part finances the capital expenditure towards setting up of a new manufacturing unit at industrial plot no. 70, Sector 28 in the Medical Device Park under the Yamuna Expressway Industrial Development Authority (YEIDA), Gautam Buddha Nagar, Uttar Pradesh
2. Funding the Working Capital Requirement of our Company
3. To meet out the General Corporate Purposes
C-11, Block- C Community Centre Janakpuri A-3
New Delhi
Delhi
110058
011-45699388
info@avienbio.com
www.avienbio.com
Skyline Financial Services Pvt Ltd
Avience Biomedicals
Profile of the company
Avience Biomedicals is a medical consumable company dedicated to manufacturing of Vitro-Diagnostic (IVD) products and medical devices in Noida, Uttar Pradesh, India. It commenced its journey by producing essential diagnostic kits like Viral Transport Media (VTM), Covid, Human Immunodeficiency Viruses (HIV), HBs AG, Malaria, Dengue and others aimed at aiding medical institutions with affordable and good-quality solutions. The company has expanded its product range from IVD rapid test kits to include a comprehensive line of medical devices such as Serology products, Biochemistry Analyser and Biochemistry Reagents, showcasing a dedication to addressing various healthcare needs. Being majorly into B2B and B2C market, its products cater to Pathology Labs, Microbiology Labs, Hospitals, and Research Centers nationwide as well as overseas. In addition to manufacturing, the company also act as distributors and traders of medical equipment.
The company operates from its manufacturing facility located in Uttar Pradesh. This facility is equipped with advanced processing capabilities and staffed with industry experts. This proactive approach empowers medical professionals with essential tools to combat diseases effectively, particularly emerging viruses.
As an ISO 9001:2016, ISO 13485, ZED MSME Gold and Good Manufacturing Practice (GMP) certified organization, it adheres to a robust Quality Management System. Its dedication lies in providing work of such quality that aligns with project standards and specifications for materials, workmanship, schedules, and public service. It is committed to profitability and competitiveness while ensuring continual improvement through quality processes overseen by its management team. Its quality control process guarantees high standards of safety and environmental protection, meeting client expectations and adhering to their defined standards and specifications. Its commitment to perfection and quality has been evident through its rigorous adherence to regulatory norms established by the Central Drugs Standard Control Organization (CDSCO), ensuring that its production line operates at its performance.
Proceed is being used for:
Industry overview
India’s healthcare and medical device sectors have grown rapidly over the past decade, positioning the country as the fourth-largest medical devices market in Asia and among the top 20 globally. The industry produces a wide range of products, from consumables such as syringes and catheters to high-value implants like cardiac stents, intraocular lenses, and orthopaedic devices. While India still imports 70-80% of its medical devices, this gap offers a significant growth opportunity. Both domestic and global manufacturers are investing to meet rising demand, supported by government policies that have recognized medical devices as a sunrise sector since the launch of Make in India in 2014. The medical devices sector in India is an essential and integral constituent of the Indian healthcare sector, particularly for the prevention, diagnosis, treatment and management of all medical conditions, diseases, illnesses, and disabilities.
India is among the top 20 markets for medical devices worldwide. The medical devices sector in India comprises large multinationals and small and midsized companies. The current market size of the medical devices industry in India is estimated at $15.35 billion in 2023 and is expected to grow to $20.51 billion by 2029 with a CAGR of 5.35%. India is the fastest growing medical devices market amongst the emerging markets. The medical devices industry in India consists of large multinationals as well as small and medium enterprises (SMEs) growing at an unprecedented scale.
The Government of India has taken several steps to ensure the growth of a vibrant ecosystem of medical devices manufacturing in India. To enhance India’s manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high value goods in the pharmaceutical sector, a scheme called ‘Production Linked Incentive Scheme for Pharmaceuticals’ has been approved by the Government of India on March 24, 2021. The guidelines of the scheme were issued on June 1, 2021. The scheme covers Invitro diagnostic devices amongst other pharmaceutical goods.
Pros and strengths
Innovative product portfolio: The company is proud to offer an extensive portfolio of IVD Rapid Tests and advanced medical devices designed to address healthcare challenges today. From high-performance diagnostic tests for infectious diseases to haematology and biochemistry analyzers, it is committed to bringing innovative products to market that improve patient outcomes. Additionally, as a trusted channel partner for Mindray, it extends its portfolio to include their world-class biochemistry analyzers and haematology equipment, further enriching its range of solutions.
Strong regulatory compliance: Its products adhere to some of the most rigorous international quality and safety standards, including ISO 13485 for medical device quality management, ISO 9001 for overall organizational quality management, CE marking for compliance with European Union health, safety, and environmental protection regulations, and GMP (Good Manufacturing Practices) for consistent manufacturing processes.
Talented workforce: Its success is driven by a dedicated and highly skilled workforce, comprised of experts in medical device manufacturing, quality assurance, regulatory affairs, and technical support. Each team member is committed to advancing healthcare through innovation and operational excellence. From engineers and product designers to regulatory specialists and customer support professionals, its employees are at the heart of everything it does. It invests in continuous training, ensuring that its team stays at the forefront of technological advancements and better practices.
Risks and concerns
Revenue dependence on top customers: The company is dependent on certain customers for a portion of its revenues. For the period ended January 31, 2026, and for the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023, its top ten customers accounted for around 46.44%, 56.82%, 69.12% and 74.79%, respectively, of its total revenue from operations. The loss of any of its major customers due to any adverse development or significant reduction in business from its major customers may adversely affect its business, financial condition, results of operations and future prospects.
Dependence on suppliers for medical devices: The company relies on suppliers for medical devices and equipment manufacturers for its trading goods, and also face risks in sourcing raw materials and components from third parties for the manufacturing and assembly of its medical equipment. Any failure by its suppliers to meet agreed timelines, whether due to regulatory issues, financial difficulties, or other factors, may lead to delays, increased costs, payment issues, or damage to its reputation, all of which could adversely impact its business, operations, and financial condition.
A large portion of revenue is derived from trading sector: Its business derives a significant portion of its revenue from the trading sector, and any potential instability in this area could pose a risk to its overall performance. For the period ended January 31, 2026, and for the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023, trading activities contributed around 68.44%, 72.31%, 79.60% and 83.81%, respectively, of total revenue, while manufacturing activities contributed around 30.70%, 27.32%, 20.40% and 16.19%, respectively. Any adverse effects experienced within this activity could also have a detrimental impact on its business.
Outlook
Avience Biomedicals is primarily engaged in the business of manufacturing and selling of medical consumables. Its diversified product portfolio can primarily be divided into two main categories -- Manufacturing of Medical Consumables and Distribution of branded equipment. The company aims at creating solutions that are on cutting edge with the latest advancements in the globe, having wide application and that provide cost-effective solutions for the rural and the needy. On the concern side, its revenue is significantly concentrated in its top five states, contributing a major portion of its total revenue. Any adverse economic, regulatory, or operational developments in these key regions could materially impact its business performance, revenue generation, and overall financial results. Further, it relies on limited suppliers for its products, loss of these suppliers may have an adverse effect on its business, results of operations and financial conditions.
The company is coming out with a maiden IPO of 14,53,800 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 196-208 per equity share. The aggregate size of the offer is around Rs 28.49 crore to Rs 30.24 crore based on lower and upper price band respectively. On performance front, its total revenue increased by 88.60% to Rs 4,596.74 lakh for the financial year 2024-25 from Rs 2,437.27 lakh for the financial year 2023-24. Net profit after tax has increased by 237.75% from Rs 214.11 lakh in Fiscal 2024 to profit of Rs 723.18 lakh in the Fiscal 2025.
Meanwhile, it develops a manufacturing facility that meets WHO and US FDA standards for medical device production. Incorporate modern technology, automation, and quality control measures to optimize efficiency and ensure compliance. Optimize its supply chain to ensure timely delivery of raw materials and components to the new plant. Consider establishing strategic partnerships with suppliers and logistics providers to enhance efficiency and reliability. Continuously monitor and evaluate the performance of the new plant, identifying opportunities for optimization and innovation. Foster a culture of continuous improvement and adaptability to maintain a competitive edge in the dynamic medical device industry.
SBFC Finance has informed that the meeting of the Board of Directors of the Company is scheduled on 25/07/2026, inter alia, to consider and approve Unaudited Financial Results of the Company for the quarter ending 30th June, 2026.
The above information is a part of company’s filings submitted to BSE.
Ashiana Ispat has informed that the meeting of the Board of Directors of the Company is scheduled on 30/06/2026, inter alia, to consider and approve Audited financial results for quarter and financial year ended on 31st March 2026 and other ancillary matters.
The above information is a part of company’s filings submitted to BSE.
Atharva Poly-Plast
Profile of the company
The company is a manufacturer of precision plastic components with a growing presence across key industrial verticals including furniture, home appliances, and automotive assemblies. Its focus is on injection moulded components, primarily made from polypropylene (PP), ABS, HDPE, and engineering polymers. It supports both B2B manufacturing contracts and co-development projects, providing full-cycle support from mould design and prototyping to final production and QA validation. The company uses its moulding capabilities and know-how to supply customized plastic components to OEMs and Tier-1 suppliers in India. As part of its engagements with OEM customers, it converts raw materials and bought-out parts such as fasteners, hinges or foam components into plastic components based on the customer’s needs.
The company’s manufacturing facility spread over 2,34,614 Sq. Ft. was commissioned in the year 2015 and has a production space of 40,000 Sq. Ft. The facility is equipped with over 17 moulding machines with capacities ranging from 100T to 1000T, enabling the manufacturing of plastic components used in industries such as furniture, home appliances, automotive, and others. The company has an in-house quality control room and a qualified team that monitors the entire production cycle from the procurement of raw materials to the final inspection of finished products. Its quality management systems are certified under ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health & Safety).
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Industry overview
India’s plastic moulding industry is a vital pillar of its manufacturing ecosystem, contributing significantly to sectors such as automotive, consumer durables, furniture, electronics, and packaging. As one of the fastest growing segments within the polymer value chain, the industry is evolving rapidly through technology adoption, increasing localization, and sustainability-driven innovation. Supported by a robust domestic demand and export opportunities, India is emerging as a global manufacturing hub for precision-moulded plastic components. The plastic moulding sector thrives on its ability to serve a diverse range of applications across critical sectors. From the interior trims and bumper housings in automobiles, to modular office furniture, air conditioner casings and washing machine drums, moulded plastic components are indispensable to modern manufacturing. The industry is marked by a high degree of customization, design flexibility, and cost-effectiveness, enabled through processes like injection moulding, blow moulding, and thermoforming. Its wide application across both durable and disposable product categories allows the sector to maintain relevance through economic cycles.
A major advantage of the industry lies in its strong MSME base--accounting for nearly 90% of the 50,000+ plastic processing units in India. These enterprises cater to OEMs in automotive clusters like Pune, Chennai, and Gurugram, and to consumer goods manufacturers in Noida, Ahmedabad, and Bengaluru. Simultaneously, the industry is witnessing the emergence of large-scale, technology-driven players investing in high-cavitation tooling, robotic moulding, and Industry 4.0 practices, particularly in high-precision applications such as electronics and medical devices. The shift towards lightweighting, modular design, and sustainability has created new growth avenues for plastic moulding. India Plastic Moulding Market was valued at $8.99 Billion in 2024 and is estimated at $9.45 billion in 2025. It is projected to reach $14.12 Billion by 2033 with a CAGR of 5.15% during the forecast period. Plastic moulding is a manufacturing technique that produces components and products from plastic materials by shaping molten or softened plastic into specific forms using Molds. This method is extensively utilized across various industries, including automotive, consumer goods, electronics, packaging, and medical devices, owing to its efficiency, versatility, and cost-effectiveness.
Pros and strengths
Strong relationships with established customer base: The company maintains long-standing relationships with established customers across various industries. These associations have contributed to the development and diversification of its product portfolio and enable it to plan production in line with market demand while maintaining consistent quality standard. The continued association of its customers has been integral to its growth, offering stability to operations and clarity in future planning. Its strong customer base will remain central to sustaining business performance and driving long-term growth.
Product spectrum & portfolio: The company’s comprehensive range of plastic components is designed to meet the diverse needs of several key industry segments, including furniture, home appliances, automobiles, and others. This extensive product mix enables it to cater to a broad and varied customer base, addressing a wide spectrum of application requirements. By operating across multiple sectors, it significantly reduces dependency on any single industry or client, thereby enhancing business resilience. This strategic diversification contributes to the stability of its operations and adds consistency to its revenue streams, positioning it for sustained growth across economic cycles.
Sustainable and responsible manufacturing: Sustainability is a core pillar of the company’s operational philosophy and long-term business strategy. Its manufacturing facility has been awarded the prestigious GREENCO Gold Rating, a testament to its commitment to environmental responsibility, resource efficiency, and sustainable process management. It also adheres to internationally recognized environmental standards, including ISO 14001:2015 for Environmental Management Systems. It has implemented the 5R principles- Reduce, Reuse, Recycle, Renew, and Respect across various aspects of its operations. These principles guide its approach to energy consumption, waste management, material use, and overall environmental stewardship.
Risks and concerns
Dependent on certain key customers: The company derives a significant portion of its revenue from relatively a differentiated group of customers. For the period ended January 31, 2026 and for the financial years ended March 31, 2025, 2024, and 2023, its top ten customers contributed 97.43%, 97.9%, 97.8%, and 97.78%, respectively, to its total revenue from operations. The company does not have long-term commitments with all of these customers, and there is no assurance that they will continue to place orders at the same level or on similar terms. Loss of any key customer, reduction or cancellation of orders, non-renewal of existing arrangements or renegotiation of terms may have a material adverse impact on its revenue, cash flows and profitability.
Dependent on few suppliers for purchases of raw materials: The company procures a significant portion of its raw materials, particularly polymers and related chemical inputs, from a limited group of suppliers. For the period ended January 31, 2026 and for the financial years ended March 31, 2025, 2024, and 2023, its top 10 suppliers contributed around 74.18%, 62.77%, 70.39% and 62.82% respectively of its total raw material consumed. The company cannot assure that it will be able to get the same quantum and quality of supplies, or any supplies at all, and the loss of supplies from one or more of them may adversely affect its purchases of stock and ultimately its revenue and results of operations.
Requires significant working capital: The company’s business is working capital intensive on account of the nature of its industry, procurement cycles, extended trade receivables, and inventory holding period. As per its Restated Financial Statements, its working capital requirements were Rs 724.44 lakh, Rs 268.89 lakh, Rs 223.29 lakh, and Rs 276.81 lakh for Period ended January 31, 2026 and for Fiscals 2025, 2024, and 2023, respectively. For Fiscal 2026 and Fiscal 2027, its working capital requirements are estimated at Rs 841.97 lakh and Rs 1,563.96 lakh respectively. Its working capital requirements may further increase if it undertakes larger or more complex projects, or if there are extended payment cycles or delays in project execution due to client-side or regulatory factors.
Outlook
Atharva Poly-Plast manufactures precision plastic components, serving key industries like furniture, home appliances, and automotive. Its main focus is on injection moulding using materials such as polypropylene (PP), ABS, HDPE, and engineering polymers. The company works with OEMs and Tier-1 suppliers in India, offering both B2B manufacturing and co-development support--from mould design and prototyping to final production and quality checks. It also assembles products using fasteners, hinges, and foam parts as per customer requirements. It has strategically established its presence across key regions including Karnataka, Maharashtra, Gujarat and the United States. This regional and international diversification allows it to optimize its supply chain, maintain close proximity to raw material sources, access a skilled and cost-effective labour pool, and efficiently cater to a broad and diverse customer base. On the concern side, the company is governed by various laws and regulations for its business and operations. It is required, and will continue to be required, to obtain and hold relevant licenses, approvals and permits at state and central government levels for doing its business. Besides, it does not have firm commitment long-term agreements with all its customers and instead rely on purchase orders to govern the volume and other terms of sales of its products.
The company is coming out with a maiden IPO of 45,00,000 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 55-60 per equity share. The aggregate size of the offer is around Rs 24.75 crore to Rs 27 crore based on lower and upper price band respectively. On performance front, the company’s revenue from operations increased by 14.58% from Rs 4,148.72 lakh in the fiscal year ended March 31, 2024 to Rs 4,753.56 lakh in the fiscal year ended March 31, 2025. Profit after tax increased by 164.12% from Rs 200.10 lakh in the fiscal year ended March 31, 2024 to Rs 528.55 lakh in the fiscal year ended March 31, 2025.
Meanwhile, the company intends to adopt a comprehensive approach to supply chain management to enhance stability and efficiency. It plans to implement a multi-sourcing strategy to reduce dependence on single suppliers and mitigate risks, with clearly identified primary and secondary sources for critical materials. Besides, the company intends to identify potential risks in the supply chain, including supplier disruptions, price volatility, geopolitical events, and natural disasters. Each identified risk will be assessed in terms of likelihood and potential impact. To mitigate these risks, the company plans to diversify its supplier base, monitor supplier performance and financial stability, and maintain clear communication channels with suppliers.
ICICI Lombard General Insurance Company has informed that the meeting of the Board of Directors of the Company is scheduled on 15/07/2026, inter alia, to consider and approve Audited Financial Results & Audited Financial Statements of the Company for the quarter ending on June 30, 2026.
The above information is a part of company’s filings submitted to BSE.
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The issue size of Avience Biomedicals Ltd. IPO is ₹20.46 - 21.72 crore.
The Avience Biomedicals Ltd. IPO opens for subscription on 2026-06-18 and closes on 2026-06-22.
The price range of Avience Biomedicals Ltd. IPO is ₹196.00 to ₹208.00.
The lot size of Avience Biomedicals Ltd. IPO is 1200 shares.
The registrar of Avience Biomedicals Ltd. IPO is Skyline Financial Services Pvt Ltd .
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