Quest Laboratories was incorporated on June 01, 1998. The company specializes in manufacturing pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more.
| Bidding Dates |
|---|
| 15 May 2024 - 17 May 2024 |
| Subscription |
|---|
| 79.29x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,11,600 | 1 | 1 | 1200 | 4.4 M | ₹93 - ₹97 | 65.83 % | ₹413.8 M - ₹431.6 M | RHP DOC |
Quest Laboratories IPO SUBSCRIPTION STATUS
17 May '24Quest Laboratories IPO overall subscription rate was 79.29 times the total available shares
Quest Laboratories IPO retail subscription rate was 76.79 times in the retail segment
Quest Laboratories IPO non-institutional investor subscription rate was 250.71 times in the non-institutional investor category
Quest Laboratories IPO Qualified Institutional Bidder subscription rate was 29.61 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
17 May 2024 (Day 3) | 76.79x | 250.71x | 29.61x |
16 May 2024 (Day 2) | 8.16x | 3.68x | 0x |
15 May 2024 (Day 1) | 2.73x | 0.99x | 0x |
Quest Laboratories FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 77.5 | 620.8 | 0.0 | -5.1 | 19.5% |
| FY23 | 50.3 | 616.4 | 36.3 | 5.6 | 12.7% |
| FY22 | 41.1 | 594.8 | 34.6 | 15.3 | 10.9% |
| FY21 | 6.6 | 303.6 | 10.5 | -1.6 | 4.7% |
Quest Laboratories IPO SUBSCRIPTION STATUS DETAILS
Quest Laboratories had 4.4 M shares on offer
Quest Laboratories IPO offer price was in the range ₹93 - ₹97
Quest Laboratories IPO minimum Investment was ₹111600
Quest Laboratories IPO issue size was ₹ 413.8 M - ₹ 431.6 M
Quest Laboratories had a minimum lot size of 1200 Shares per application
Quest Laboratories NUMBER OF SHARES ON OFFER
Quest Laboratories IPO IMPORTANT DATES
| Issue Open Date | 15 May 2024 |
| Issue close Date | 17 May 2024 |
| Allotment Date | 21 May 2024 |
| Refund Date | 22 May 2024 |
| Demat Account Credit Date | 22 May 2024 |
| Listing Date | 23 May 2024 |
| Listing on Exchange(s) | NSE |
| Quest Laboratories Allotment Status | Exchange |
Quest Laboratories IPO subscription opened on 15 May 2024, and closed on 17 May 2024
IPO allotment for Quest Laboratories was finalized on Tuesday, 21 May 2024
IPO listing for Quest Laboratories was on NSE on Thursday, 23 May 2024
Quest Laboratories IPO LISTING GAINS
| Issue Price (adjusted) | 97.0 |
| Listing Open Price | 155.1 |
| Listing Close Price | 147.3 |
| Listing Gain% | 59.9% |
| Current Gain% | -7.5% |
Quest Laboratories Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quest Laboratories Ltd. | 89.7 | 147 | 9.8 | 0.9 | 1.3 | 15.5 | 13.5 | 114.4 | 5.7 | 15 | 10.7 | 9.2 | 10.7 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Quest Laboratories INFORMATION ON IPO ISSUE
About Quest Laboratories
Quest Laboratories was incorporated on June 01, 1998. The company specializes in manufacturing pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more.
Object 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 - PROMOTERS
| Name |
|---|
| Anil Kumar Sabarwal |
| Tejaswini Sabarwal |
Quest Laboratories Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
Quest Laboratories Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Quest Laboratories Strengths
Multi-product capability
The company has approvals to manufacture more than 600 formulations and routinely produces 250 to 300 types of formulations, depending on market demand and limited formulation lines. The company operates a versatile manufacturing facility capable of producing multiple products using a combination of processes
Product portfolio
The company offers a comprehensive range of products, including generic drugs, branded pharmaceuticals, over-the-counter products, and specialized medications. This diverse portfolio enables the company to cater to various market segments and respond effectively to changing market demands
Quality assurance
The company holds a Good Laboratory Practice certificate from the Food & Drug Administration in Bhopal, Madhya Pradesh. The company operates its own in-house quality control laboratory, ensuring rigorous testing of both raw materials and finished goods to maintain high standards of quality
Quest Laboratories Risks
Outstanding litigation
The company is involved in certain outstanding litigation. An adverse outcome of these legal proceedings could negatively affect the business's reputation and results of operations
Negative cash flows
The company has experienced negative cash flows in past years. Sustained negative cash flow could adversely impact its growth and business operations
Contingent liabilities
The company has contingent liabilities, and its financial condition could be adversely affected if any of these liabilities were to materialize
IPO FAQs
The promoters of the company are Anil Kumar Sabarwal and Tejaswini Sabarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 93.0 - 97.0.
The IPO application opens on May 15, 2024 and closes on May 17, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 111,600.0, the maximum value for this IPO is Rs 116,400.0.
This IPO will be allotted on May 21, 2024.
The refund will be credited to your account on May 22, 2024.
The allotted shares will be credited to your demat on May 22, 2024.
Quest Laboratories Ltd.’s shares listed on the stock exchanges on May 23, 2024.