Quest Laboratories IPO will open for subscription from 15 May 2024. The company aims for an issue size of ₹43.16 Cr through this IPO.
Company Overview
| Full name | Quest Laboratories Limited |
| Sector | Healthcare |
| Industry | Pharmaceuticals & Drugs |
| Company Website | https://www.questlabltd.com/ |
About Company
Quest Laboratories is a pharma formulation manufacturer involved in manufacturing formulations across a wide range that includes the following: antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory drugs, diabetes drugs, antidepressants, and many more. The company manufactures a wide range of products making its tally approximately 250 units. These exist in the form of ethical, generic, and over-the-counter drugs (OTC). They also exist in the forms of tablets, liquid orals, oral dry powders, oral powder (ORS), ointment, and external liquids.
Quest Laboratories has the FDA and equivalent body approvals to manufacture over 600 formulations. Quest has regularly manufactured 250-300 types of formulations because of market trends and limited formulation lines. Sales orders have been coming from the private sector & government institutions eagerly. It has embarked on successful government tender contracts for the past few years with major state and central government institutions and corporations.
Based on sales made for the period ended 31 December 2023 and also for the FY 2023, 2022, and 2021, the company operates in the domestic market across 12 states and two union territories, namely; Uttar Pradesh, Madhya Pradesh, Maharashtra, Delhi, Jharkhand, Assam, Karnataka, Jammu & Kashmir, Rajasthan, West Bengal, Gujarat, Telangana, Haryana and Bihar. As of 31 December 2023, Quest Laboratories’ registered office and manufacturing facility employ 84 individuals.
The Objectives of the Issue
- Funding of capital expenditure towards the 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 Timetable
| IPO Opening date | 15 May 2024 |
| IPO Closing | 17 May 2024 |
| Basis of Allotment | 21 May 2024 |
| Initiation Refund | 22 May 2024 |
| Credit to Demat Account | 22 May 2024 |
| Listing Date | 23 May 2024 |
Quest Laboratories IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹43.16 Cr – 4,449,600 shares |
| Fresh Issue | ₹43.16 Cr – 4,449,600 shares |
| Offer for sale | – |
| Face value | ₹10 per share |
| Price Band | ₹93 to ₹97 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 228,000 shares |
| Shareholding pre-issue | 11,937,600 |
| Shareholding post-issue | 16,387,200 |
| Listing Exchange | NSE SME |
Quest Laboratories IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹116,400 |
| Retail (Max) | 1 | 1200 | ₹116,400 |
| HNI (Min) | 2 | 2,400 | ₹232,800 |
Quest Laboratories Offer Documents
Quest Laboratories IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,236,000 (27.78%) |
| Market Maker Shares Offered | 228,000 (5.12%) |
| QIB Shares Offered | 831,600 (18.69%) |
| NII (HNI) Shares Offered | 655,200 (14.72%) |
| Retail Shares Offered | 1,498,800 (33.68%) |
| Total Shares Offered | 4,449,600 (100%) |
Quest Laboratories Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 30.36 | 59.48 | 61.64 | 62.08 |
| Expenses | 29.65 | 53.78 | 54.91 | 51.03 |
| Net income | 0.66 | 4.11 | 5.03 | 7.75 |
Quest Laboratories Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.61 | 3.81 | 4.66 |
| PE ratio | – | – | 19.96 – 20.82 |
| RONW (%) | 11.12 | 41.08 | 33.74 |
| NAV | 5.46 | 9.26 | 13.93 |
| ROE (%) | 11.78 | 51.69 | 40.20 |
| EBITDA (%) | 4.67 | 10.87 | 12.69 |
| Debt/Equity | 0.52 | 0.31 | 0.27 |
Company Promoters
- Mr. Anil Kumar Sabarwal
- Ms. Tejaswini Sabarwal.
Promoter Holding
| Pre Issue Share Holding | 90.36% |
| Post Issue Share Holding | 65.82% |
Quest Laboratories Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 22 May 2024 | 63 | – | 55,000 |
| 21 May 2024 | 40 | – | 44,500 |
| 20 May 2024 | 25 | – | 37,500 |
| 18 May 2024 | 10 | – | 12,000 |
| 17 May 2024 | 5 | – | 7,000 |
| 16 May 2024 | 5 | – | 7,000 |
| 15 May 2024 | 7 | – | 8,000 |
Quest Laboratories IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 8,31,600 | 6,55,200 | 14,98,800 | 29,85,600 |
| 17 May 2024 | 57.20 | 184.45 | 57.62 | 85.34 |
| 16 May 2024 | 0.01 | 2.71 | 6.12 | 3.67 |
| 15 May 2024 | 0.01 | 0.73 | 2.05 | 1.19 |
Quest Laboratories IPO Allotment Status
Quest Laboratories IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Quest Laboratories IPO Listing Details
| Listing Date | 23 May 2024 |
| BSE Scrip Code | – |
| NSE Symbol | QUESTLAB |
| ISIN | INE0TNW01017 |
| Final Issue Price | ₹97 per share |
Quest Laboratories IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹97.00 |
| Open | ₹155.10 |
| Low | ₹147.35 |
| High | ₹159.00 |
| Last Trade | ₹147.35 |
Quest Laboratories Lead Manager(s)
SHRENI SHARES LIMITED
Office No. 217, Hive 67 Icon, Poisar Gymkhana Road,
Lokmanya Tilak Nagar Poisar, Near Raghuleela Mall,
Kandivali West, Mumbai-400067, Maharashtra
Phone: 022 2089 7022
Email: shrenishares@gmail.com
Website: www.shreni.in
Quest Laboratories Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Quest Laboratories Contact Details
QUEST LABORATORIES LIMITED
Plot No. 45 Sector III Pithampur,
Dhar – 454775, Madhya Pradesh, India
Phone: 07292292374
E-mail: investors@questlabltd.com
Website: www.questlabltd.com
Quest Laboratories IPO FAQs
What is the Quest Laboratories Issue size?
Quest Laboratories’ offer size is ₹ 41.38 – ₹ 43.16 crores.
What is the Quest Laboratories IPO price band?
Quest Laboratories’ public offer price is ₹ 93 – ₹ 97 per share.
What is the lot size of the Quest Laboratories Offer?
Quest Laboratories offer lot size is 1,200 shares.
What is Quest Laboratories IPO GMP today?
Quest Laboratories IPO GMP today is ₹ 63 per share.
What is the Quest Laboratories kostak rate today?
Quest Laboratories’ kostak rate today is ₹ NA per application.
What is Quest Laboratories Subject to the Sauda rate today?
Quest Laboratories is Subject to the Sauda rate today is ₹ 55,000 per application.
Final thoughts
Quest Laboratories IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
