Q-Line Biotech to raise ₹214 cr via IPO on NSE Emerge

Q-Line Biotech, an Indian in-vitro diagnostics (IVD) and healthcare solutions company, plans to raise ₹214 crore through initial public offering on NSE Emerge.

The company will issue 62,53,200 equity shares in the price band of ₹326 - ₹343 a share. The anchor bidding will open on Wednesday, while other investors can subscribe from May 21-25.

Q-Line Biotech is engaged in manufacturing and supplying diagnostic reagents, rapid test kits, molecular diagnostics, pathology equipment and related consumables used by hospitals, laboratories and healthcare institutions across India.

The company will use net proceeds from the IPO for meeting working capital requirements, repayment of loans and the general corporate purposes.

HEM Securities and Share India Capital Services are the Book Running Lead Manager while Purva Sharegistry (India) will be the Registrar.

The company supplies diagnostic equipment and IVD products for different diagnostic healthcare needs since 2013 directly or through its distributor/s majorly to diagnostic service providers, hospitals and medical colleges.

The company has established its brands over a period of 12 years through its experience, R&D, manufacturing capabilities and quality assurance.

The key manufacturing segments include indigenous manufacturing of reagents and supplying/manufacturing of in-vitro diagnostics, Pathology equipment’s & devices.