Bookbuilding IPO | ₹43 Cr | Listed at NSE SME | Wed, May 15, 2024 - Fri, May 17, 2024
Quest Laboratories IPO is a book build issue of ₹43.16 crores. The issue is entirely a fresh issue of 0.44 crore shares of ₹43.16 crore.
Quest Laboratories IPO bidding started from May 15, 2024 and ended on May 17, 2024. The allotment for Quest Laboratories IPO was finalized on May 21, 2024. The shares got listed on NSE SME on May 23, 2024.
Quest Laboratories IPO price band is set at ₹97 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,16,400 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,32,800.
Shreni Shares Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Quest Laboratories IPO RHP for detailed Information.
IPO Open
Wed, May 15, 2024
IPO Close
Fri, May 17, 2024
Issue Price
₹97 per share
Market Cap (Pre-IPO)
₹158.96 Cr
| IPO Date | 15 to 17 May, 2024 |
| Listed on | Thu, May 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹97 |
| Issue Price | ₹97 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 44,49,600 shares (agg. up to ₹43 Cr) |
| Reserved for Market Maker | 2,28,000 shares Rikhav Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 42,21,600 shares (agg. up to ₹41 Cr) |
| Net Offered to Public | 42,21,600 shares (agg. up to ₹41 Cr) |
| Share Holding Pre Issue | 1,19,37,600 shares |
| Share Holding Post Issue | 1,63,87,200 shares |
| NSE Symbol | QUESTLAB |
| ISIN | INE0TNW01017 |
Quest Laboratories IPO comprises a total issue size of 44,49,600 shares. The net offer to the public is 42,21,600 shares, after excluding 2,28,000 shares allotted on a firm basis. Of the Net offer 20,67,600 (48.98%) are allocated to QIB, 6,55,200 (15.52%) allocated to NII 14,98,800 (35.50%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 20,67,600 | 48.98% | 46.47% |
| − Anchor Investor Shares Offered | 12,36,000 | 27.78% | |
| − QIB (Ex. Anchor) Shares Offered | 8,31,600 | 18.69% | |
| NII (HNI) Shares Offered | 6,55,200 | 15.52% | 14.72% |
| Retail Shares Offered | 14,98,800 | 35.50% | 33.68% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,28,000 | 5.12% | |
| Total Shares Offered | 44,49,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,16,400 |
| Retail (Max) | 1 | 1,200 | ₹1,16,400 |
| HNI (Min) | 2 | 2,400 | ₹2,32,800 |
Quest Laboratories IPO raises ₹11.99 crore from anchor investors. Quest Laboratories IPO Anchor bid date is May 14, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, May 14, 2024 |
| Shares Offered | 12,36,000 |
| Anchor Portion (₹ Cr.) | 11.99 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jun 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Aug 19, 2024 |
Incorporated in June 1998, Quest Laboratories Limited is a pharmaceutical company manufacturing a range of antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more.
The company operates in the domestic market across twelve (12) states and two (2) union territories. These include Uttar Pradesh, Madhya Pradesh, Maharashtra, Delhi, Jharkhand, Assam, Karnataka, Jammu & Kashmir, Rajasthan, West Bengal, Gujarat, Telangana, Haryana, and Bihar.
The manufacturing unit of the company is located in Dhar, Madhya Pradesh.
The company holds WHO Schedule M GMP and GLP certifications, as well as ISO/IEC 17025:2017 and ISO 9001:2015 certifications.
By December 31st, 2023, the company employs 83 individuals to lookafter various aspects of its manufacturing operations, including production, quality control, technical and engineering support services, inventory management, administration, accounting, and other functions such as storage, packing, and dispatch.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 58.69 | 46.65 | 34.80 | 18.40 |
| Total Income | 62.18 | 61.87 | 59.54 | 30.44 |
| Profit After Tax | 7.75 | 5.03 | 4.11 | 0.66 |
| NET Worth | 22.77 | 15.02 | 9.99 | 5.89 |
| Reserves and Surplus | 11.98 | 13.94 | 8.92 | 4.81 |
| Total Borrowing | 4.61 | 4.10 | 3.13 | 3.04 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure towards purchase of plant and machineries for expansion at the existing manufacturing facility | 26.00 |
| 2 | Funding Working Capital Requirements of the Company | 10.00 |
| 3 | General corporate purposes | 3.38 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 34.03% |
| ROCE | 41.86% |
| Debt/Equity | 0.20 |
| RoNW | 34.03% |
| PAT Margin | 12.48% |
| Price to Book Value | 4.59 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.21 | 6.31 |
| P/E (x) | 23.03 | 15.38 |
| Promoter Holding | 90.36% | 65.82% |
| Market Cap | ₹158.96 Cr. |
The Quest Laboratories IPO is subscribed 85.26 times on May 17, 2024 6:19:56 PM (Day 3). The public issue subscribed 57.63 times in the retail category, 57.2 times in the QIB category, and 184.1 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 57.2 | 8,31,600 | 4,75,71,600 |
| NII* | 184.1 | 6,55,200 | 12,06,24,000 |
| Retail | 57.63 | 14,98,800 | 8,63,70,000 |
| Total | 85.26 | 29,85,600 | 25,45,65,600 |
Total Application : 71,975
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission | 2.25 |
| 2 | Brokerage, selling commission and upload fees | 0.01 |
| 3 | Registrars to the issue | 0.02 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising and marketing expenses | 0.03 |
| 6 | Printing and stationery expenses | 0.01 |
| 7 | Others, if any (market making, depositories, marketing fees, consultancy, secretarial, peer review etc.) | 1.41 |
| 8 | Regulators Including Stock Exchanges | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹97.00 |
| Open | ₹155.10 |
| Low | ₹147.35 |
| High | ₹159.00 |
| Last Trade | ₹147.35 |
Lead Manager Reports
Quest Laboratories IPO is a SME IPO of 44,49,600 equity shares of the face value of ₹10 aggregating up to ₹43 Crores. The issue is priced at ₹97 per share. The minimum order quantity is 1200.
The IPO opens on Wed, May 15, 2024, and closes on Fri, May 17, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Quest Laboratories IPO using UPI as a payment gateway. Zerodha customers can apply in Quest Laboratories IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Quest Laboratories IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Quest Laboratories IPO opens on Wed, May 15, 2024 and closes on Fri, May 17, 2024.
Quest Laboratories IPO lot size is 1200, and the minimum amount required for application is ₹1,16,400.
You can apply in Quest Laboratories IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Quest Laboratories IPO will be done on Tuesday, May 21, 2024, and the allotted shares will be credited to your demat account by Wed, May 22, 2024. Check the Quest Laboratories IPO allotment status.
The Quest Laboratories IPO listing date is on Thu, May 23, 2024.
