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Quest Laboratories IPO
Price Band
₹93.0–97.0
Issue Size
₹43.16 Cr
Lot Size
1,200 shares
Min Investment
₹116,400
GMP
+₹80.0 (82.47%)
Issue Price
₹97.0
Subject to Sauda
₹73000
Paid only if allotted
Quest Laboratories IPO AI Summary
- Quest Laboratories IPO is listed on NSE SME in the Pharmaceuticals sector.
- Price band: ₹93.0–₹97.0 per share, lot size 1,200 shares (min. investment ₹116,400).
- Subscription window: 15 May–17 May 2024, listing on 23 May 2024.
- Current GMP is +₹80.0 (82.47%), an estimated listing price of ₹177 — unofficial and can change daily.
Quest Laboratories Limited is an established pharmaceutical manufacturer in India, with a steady growth trajectory in revenue and profit. The company is seeking to raise funds through its IPO for expansion and working capital. Investors should consider the associated risks and market conditions before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Quest Laboratories IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 17 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Quest Laboratories IPO Grey Market Premium (GMP) Today
GMP
+₹80.0
GMP %
+82.47%
Est. Listing
₹177.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in June 1998, Quest Laboratories Limited is a pharmaceutical company manufacturing a range of antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more. The company operates in the domestic market across twelve (12) states and two (2) union territories. These include Uttar Pradesh, Madhya Pradesh, Maharashtra, Delhi, Jharkhand, Assam, Karnataka, Jammu & Kashmir, Rajasthan, West Bengal, Gujarat, Telangana, Haryana, and Bihar. The manufacturing unit of the company is located in Dhar, Madhya Pradesh. The company holds WHO Schedule M GMP and GLP certifications, as well as ISO/IEC 17025:2017 and ISO 9001:2015 certifications. By December 31st, 2023, the company employs 83 individuals to lookafter various aspects of its manufacturing operations, including production, quality control, technical and engineering support services, inventory management, administration, accounting, and other functions such as storage, packing, and dispatch.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 58.69 | 46.65 | 34.80 | 18.40 |
| Total Income | 62.18 | 61.87 | 59.54 | 30.44 |
| Profit After Tax | 7.75 | 5.03 | 4.11 | 0.66 |
| NET Worth | 22.77 | 15.02 | 9.99 | 5.89 |
| Reserves and Surplus | 11.98 | 13.94 | 8.92 | 4.81 |
| Total Borrowing | 4.61 | 4.10 | 3.13 | 3.04 |
Key Ratios
EPS
₹4.21
NAV
₹21.11
ROE
34.03%
ROCE
41.86%
RoNW
34.03%
P/B Value
4.59
P/E Ratio
23.03
Market Cap
₹158.96 Cr
PAT Margin
12.48%
Debt/Equity
0.20
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Zenith Drugs Limited | 14.37 | 29.88% | 14.69 | 4.29 | 4.29 |
| Alpa Laboratories Ltd. | 68.69 | 8.59% | 15.92 | 5.9 | 5.9 |
| Beta Drugs Limited | 100.12 | 19.55% | 66.43 | 19.57 | 19.57 |
| Quest Laboratories Limited This IPO | 13.93 | 33.47% | — | 4.66 | 4.66 |
Promoters
Anil Kumar Sabarwal and Tejaswini Sabarwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure towards purchase of plant and machineries for expansion at the existing manufacturing facility 26.00 2 Funding Working Capital Requirements of the Company 10.00 3 General corporate purposes 3.38
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹59.54 Cr in the year ended 31 Mar 2022, increasing to ₹61.87 Cr by 31 Mar 2023, and further rising to ₹62.18 Cr by 31 Dec 2023. This indicates a consistent growth trend in revenue over the periods.
Profit Trend
Profit after tax was ₹4.11 Cr in the year ended 31 Mar 2022, which grew to ₹5.03 Cr by 31 Mar 2023, and reached ₹7.75 Cr by 31 Dec 2023. This shows a positive trend in profitability across the reported periods.
Valuation
At the issue price of ₹97.0, Quest Laboratories has an implied P/E ratio of approximately 23.03 based on its earnings per share of ₹4.21. In comparison, peers are trading at P/E ratios ranging from 14.69 to 66.43.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of IPO shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the shares based on demand and supply dynamics. A high GMP suggests strong investor interest, while a low GMP may indicate weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as the pharmaceutical sector can be subject to regulatory changes and market fluctuations.
Listing Gains — The Risk
Listing day gains can be unpredictable. While some IPOs may see a surge in price due to demand, others may not perform as well. Factors influencing listing gains include market conditions, investor sentiment, and the company's fundamentals.
This evaluation is generated from Quest Laboratories's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Quest Laboratories IPO GMP today?
Quest Laboratories IPO GMP today is +₹80.0 (82.47%), indicating an estimated listing price of ₹177. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Quest Laboratories IPO?
The price band of Quest Laboratories IPO is ₹93.0–₹97.0 per share.
When does Quest Laboratories IPO open and close?
Quest Laboratories IPO opens on 15 May 2024 and closes on 17 May 2024.
When does Quest Laboratories IPO list on the stock exchange?
Quest Laboratories IPO listed on 23 May 2024 at ₹177.0.
What is the lot size for Quest Laboratories IPO?
The lot size for Quest Laboratories IPO is 1200 shares, requiring a minimum investment of ₹116,400.
What is the price band for the Quest Laboratories IPO?
The price band for the Quest Laboratories IPO is ₹93.0 to ₹97.0.
What is the minimum investment required?
The minimum investment required is ₹116,400, which corresponds to a lot size of 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is May 23, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the shares may list on the stock exchange.
What are the objects of the issue for this IPO?
The objects of the issue include funding capital expenditure for expansion, working capital requirements, and general corporate purposes.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 May 2024
Close
17 May 2024
Allotment
21 May 2024
Listing
23 May 2024
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