Quest Laboratories IPO is a book built issue of Rs 43.16 crores. The issue is entirely a fresh issue of 44.5 lakh shares.
Quest Laboratories IPO opens for subscription on May 15, 2024 and closes on May 17, 2024. The allotment for the Quest Laboratories IPO is expected to be finalized on Tuesday, May 21, 2024. Quest Laboratories IPO will list on NSE SME with tentative listing date fixed as Thursday, May 23, 2024.
Quest Laboratories IPO price band is set at ₹93 to ₹97 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹116,400. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹232,800.
Shreni Shares Limited is the book running lead manager of the Quest Laboratories IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Quest Laboratories IPO is Rikhav Securities.
Refer to Quest Laboratories IPO RHP for detailed information.
Quest Laboratories IPO Details
| IPO Date | May 15, 2024 to May 17, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹97 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,449,600 shares (aggregating up to ₹43.16 Cr) |
| Fresh Issue | 4,449,600 shares (aggregating up to ₹43.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,937,600 |
| Share holding post issue | 16,387,200 |
| Market Maker portion | 228,000 shares Rikhav Securities |
Quest Laboratories IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Quest Laboratories IPO Anchor Investors Details
Quest Laboratories IPO raises Rs 11.99 crore from anchor investors. Quest Laboratories IPO Anchor bid date is May 14, 2024.
| Bid Date | May 14, 2024 |
| Shares Offered | 1,236,000 |
| Anchor Portion Size (In Cr.) | 11.99 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 19, 2024 |
Quest Laboratories IPO Timeline (Tentative Schedule)
Quest Laboratories IPO opens on May 15, 2024, and closes on May 17, 2024.
| IPO Open Date | Wednesday, May 15, 2024 |
| IPO Close Date | Friday, May 17, 2024 |
| Basis of Allotment | Tuesday, May 21, 2024 |
| Initiation of Refunds | Wednesday, May 22, 2024 |
| Credit of Shares to Demat | Wednesday, May 22, 2024 |
| Listing Date | Thursday, May 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 17, 2024 |
Quest Laboratories IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹116,400 |
| Retail (Max) | 1 | 1200 | ₹116,400 |
| HNI (Min) | 2 | 2,400 | ₹232,800 |
| Lot Size Calculator | |||
Quest Laboratories IPO Promoter Holding
The promoters of the company are Mr. Anil Kumar Sabarwal and Ms. Tejaswini Sabarwal.
| Share Holding Pre Issue | 90.36% |
| Share Holding Post Issue | 65.82% |
About Quest Laboratories Limited
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.
Quest Laboratories Limited Financial Information (Restated)
Quest Laboratories Limited’s revenue increased by 3.9% and profit after tax (PAT) rose by 22.5% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,869.09 | 4,664.72 | 3,479.86 | 1,839.63 |
| Revenue | 6,217.83 | 6,186.60 | 5,954.20 | 3,043.55 |
| Profit After Tax | 774.93 | 502.85 | 410.50 | 65.50 |
| Net Worth | 2,277.15 | 1,502.21 | 999.38 | 588.84 |
| Reserves and Surplus | 1,198.39 | 1,394.33 | 891.50 | 480.96 |
| Total Borrowing | 460.66 | 409.69 | 312.54 | 304.03 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Quest Laboratories IPO is Rs 158.96 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 34.03% |
| ROCE | 41.86% |
| Debt/Equity | 0.2 |
| RoNW | 34.03% |
| P/BV | 4.59 |
| PAT Margin (%) | 12.48 |
Check Quest Laboratories IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.21 | 6.31 |
| P/E (x) | 23.03 | 15.38 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (Quest Laboratories IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding of capital expenditure towards purchase of plant and machinery for expansion at the existing manufacturing facility;
- Funding working capital requirements of the company;
-
General corporate purposes;
Quest Laboratories IPO Prospectus
Quest Laboratories Limited Contact Details
Quest Laboratories Limited
Plot No. 45, Sector III
Pithampur Industrial Area, Pithampur
Dhar – 454775,
Phone: 07292292374
Email: investors@questlabltd.com
Website: https://www.questlabltd.com/
Quest Laboratories IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html