Quest Laboratories Limited IPO : Company Details

Quest Laboratories Limited IPO is set to launch on 10 May, 2024. The company was incorporated in 1998. It is engaged in the business of manufacturing pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more. 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.

Other Information

The Company holds WHO Schedule M GMP, and GLP certifications. It also possesses Good Laboratory Practice (GLP) certificate issued by Food & Drug Administration, Bhopal, Madhya Pradesh, indicating its commitment to maintaining high standards of quality and compliance in laboratory operations, particularly within the pharmaceutical sector. Its in-house laboratory is equipped with various equipment such as HPLC (High-Performance Liquid Chromatography), GC (Gas Chromatography), FTIR (Fourier Transform Infrared Spectroscopy), UV (Ultraviolet-Visible Spectroscopy), Dissolution apparatus, and other advanced instruments. 

The company has been receiving sales orders from the private sector & government institutions on a regular basis. The company has successfully bid for government tender contracts over the past few years, collaborating with major state and central government institutions and corporations. It operates in the domestic market across 12 states and 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 Limited : IPO DETAILS

Quest Laboratories Limited IPO is set to launch on 15 May, 2024. The subscription timeline extends till 17 May, 2024. The size for the IPO is Rs. 43.16 Crore. The entire issue is a fresh issue of 44.5 Lakh shares amounting to Rs. 43.16 Crore. The lot size is 1200 shares and the price is Rs. 93 to Rs. 97 per share. The company is going to get listed at NSE SME Board. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is Bigshare Services Pvt Ltd.

Tabular Description of Quest Laboratories Limited IPO

IPO OPENING DATE 15 May, 2024
CLOSING DATE FOR IPO 17 May, 2024
ISSUE TYPE Book Built Issue
Face Value per share Rs. 10 per share
IPO price band Rs. 93 to Rs. 97 per share
LOT SIZE 1200 shares
MINIMUM ORDER QUANTITY 1200 shares
ISSUE SIZE Rs. 43.16 Crore
OFFER FOR SALE NIL
FRESH ISSUE Rs. 43.16 Crore
LISTING AT NSE SME Board
LISTING DATE 23 May, 2024

Quest Laboratories Limited IPO: IMPORTANT DATES

IPO OPENING DATE 15 May, 2024
CLOSING DATE FOR IPO 17 May, 2024
IPO ALLOTMENT DATE 21 May, 2024
REFUNDS 22 May, 2024
DEMAT A/C CREDITED ON 22 May, 2024
IPO LISTING DATE 23 May, 2024

Quest Laboratories Limited IPO begins for subscription from 15 May, 2024. The IPO subscription would continue till 17 May, 2024. The allotment status for the shareholders who applied would come on 21 May, 2024. The refunds for the ones who did not get allotment would be initiated on 22 May, 2024. The DEMAT accounts of shareholders would be credited on 22 May, 2024. The listing of the company would be completed on 23 May, 2024.

Quest Laboratories Limited IPO: Lead Managers

The lead managers are :

  • Shreni Shares Limited

The minimum and maximum lot size for retail investors is 1200 shares, amounting to Rs. 116400. The minimum lot size for HNI is 2400 shares, amounting to Rs. 232800.  

  Shares Amount
Retail (Minimum) 1200 shares Rs. 116400 
Retail (Maximum) 1200 shares Rs. 116400 
HNI (Minimum) 2400 shares Rs. 232800

OBJECTIVES FOR THE IPO

  • 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

COMPANY FINANCIALS

Particularly                  (in Rs. Lakhs) 2020-21 2021-22 2022-23 Dec-2023
Asset 1839.63 3479.86 4664.72 5869.09
Revenue 3043.55 5954.20 6186.60 6217.83
PAT 65.50 410.50 502.85 774.93

Quest Laboratories Limited  had an asset base of Rs. 1839.60 Lakhs in 2021 which increased to Rs. 4664.72 Lakhs in 2023.The asset base of the firm jumped to Rs. 5869.09 Lakhs as on December 2023. The revenue for the company was Rs. 3043.55 Lakhs in 2021, which increased to Rs. 6186.60 Lakhs in 2023. The revenue for the period ending December 2023 was Rs. 6217.83 Lakhs. The profit of the company increased from Rs. 65.50 Lakhs in 2021 to Rs. 502.85 Lakhs in 2023. The profit generated for the period ending December 2023 was Rs. 774.93 Lakhs.

PROS

  • The company is operating in a highly competitive and fragmented segment. 
  • The company produces a variety of products, comprising ethical drugs, generic drugs, and over-the-counter drugs (OTC). This comprehensive approach allows the Company to address a wide range of medical needs and preferences among patients.
  • The Company holds WHO Schedule M GMP, and GLP certifications.
  • The Company also possesses Good Laboratory Practice (GLP) certificate issued by Food & Drug Administration, Bhopal, Madhya Pradesh
  • Its in-house laboratory is equipped with various equipment such as HPLC (High-Performance Liquid Chromatography), GC (Gas Chromatography), FTIR (Fourier Transform Infrared Spectroscopy), UV (Ultraviolet-Visible Spectroscopy), Dissolution apparatus, and other advanced instruments.
  • It has been receiving sales orders from the private sector & government institutions on a regular basis. 

Quest Laboratories Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

  1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
  2. Click the Quest Laboratories Limited IPO button and press the BID button.
  3. Entering the details asked for like UPI ID, Quantity and price.
  4. Submit the application form for the IPO.
  5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.

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