Quest Laboratories IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Quest Laboratories Limited IPO GMP

The Quest Laboratories IPO is a book-built issue worth Rs 43.16 crores, comprising entirely of fresh shares totaling 44.5 lakh. Subscription opens on May 15, 2024, and closes on May 17, 2024, with the allotment expected to be finalized by May 21, 2024. It is slated to list on NSE SME on May 23, 2024.

The price band is set between ₹93 to ₹97 per share, with a minimum lot size of 1200 shares requiring a retail investor to invest at least ₹116,400. For HNIs, the minimum investment is 2 lots, totaling 2400 shares, requiring ₹232,800.

Shreni Shares Limited acts as the book running lead manager, while Bigshare Services Pvt Ltd serves as the registrar. Rikhav Securities is the market maker for the IPO.

The Issue comprises of fresh issue of up to 44,49,600 Equity Shares. Company proposes to utilize the Net Proceeds towards:

Funding of capital expenditure towards purchase of plant and machineries for expansion at the existing manufacturing facility.
Funding working capital requirements of the company.
General corporate purposes.

The company intends to expand and upgrade manufacturing capacities for existing formulations and new formulations currently in the development and commercialization stages. As the company plans to enter the injectable section, particularly in the oncology field, they require new plants and machinery for manufacturing injectable sections comprising liquid vials and ampoules, as well as dry injections, particularly in the field of oncology.