Quest Laboratories Limited IPO Details
| Detail | Description |
|---|---|
| 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 | 1,200 Shares |
| Total Issue Size | 44,49,600 shares (aggregating up to ₹ 43.16 Cr) |
| Fresh Issue | 44,49,600 shares (aggregating up to ₹ 43.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,19,37,600 |
| Share holding post issue | 1,63,87,200 |
| Market Maker portion | 2,28,000 shares |
About Quest Laboratories Limited IPO
Quest Laboratories Ltd. (QLL) is engaged in the business of manufacturing of pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants and more. These formulations fall under the trademark "Quest Laboratories Limited". The company produces a variety of products, comprising ethical drugs, generic drugs and over-the-counter drugs (OTC). These products are available in various forms such as tablets, liquid orals, oral dry powders, oral powders (ORS), ointments and external liquids. This comprehensive approach allows the Company to address a wide range of medical needs and preferences among patients.
QLL operates in the domestic market across twelve (12) states and two (2) union territories namely Uttar Pradesh, Madhya Pradesh, Maharashtra, Delhi, Jharkhand, Assam, Karnataka, Jammu & Kashmir, Rajasthan, West Bengal Gujarat, Telangana, Haryana and Bihar. 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 price band is set at ₹93 to ₹97 per share. The minimum lot size for an application is 1200 Shares. 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.
Objectives of Quest Laboratories IPO
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objectives:
- 1. Funding of capital expenditure towards purchase of plant and machinery for expansion at the existing manufacturing facility.
- 2. Funding working capital requirements of the company.
- 3. General corporate purposes.
Quest Laboratories IPO Review
The company is operating in a highly competitive and fragmented segment. It posted bumper profits from FY22 onwards, which raised eyebrows and concern over its sustainability going forward. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for the medium term.
Quest Laboratories Limited IPO Financial Information
Latest Revenue
6,217.83
₹ Crore
Profit After Tax
774.93
₹ Crore
Net Worth
2,277.15
₹ Crore
Total Borrowing
460.66
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 5,869.09 | 6,217.83 | 774.93 | 2,277.15 | 460.66 | ||||
| 31 Mar 2023 | 4,664.72 | 6,186.60 | 502.85 | 1,502.21 | 409.69 | ||||
| 31 Mar 2022 | 3,479.86 | 5,954.20 | 410.50 | 999.38 | 312.54 | ||||
| 31 Mar 2021 | 1,839.63 | 3,043.55 | 65.50 | 588.84 | 304.03 | ||||
| Amount in ₹ Crore | |||||||||
Quest Laboratories Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 34.03% |
| ROCE | 41.86% |
| Debt/Equity | 0.2 |
| RoNW | 34.03% |
| P/BV | 4.59 |
| PAT Margin (%) | 12.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.21 | 6.31 |
| P/E (x) | 23.03 | 15.38 |
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Competitive Strengths
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Quest Laboratories Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹116,400 |
| Retail (Max) | 1 | 1200 | ₹116,400 |
| HNI (Min) | 2 | 2,400 | ₹232,800 |