Q-Line Biotech IPO Sees Record 95x Subscription Amid Tepid Interest for Other Public Issues
Q-Line Biotech IPO gets 95x subscription; Bio Medica Laboratories, Autofurnish public issues see tepid response on final day
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Q-Line Biotech's IPO garnered an impressive 95.31 times subscription, raising ₹214.5 crore. In contrast, Bio Medica Laboratories and Autofurnish saw modest responses, with subscriptions of 2.19 times and 1.19 times, respectively. All three companies will finalize share allotments by May 26.
- 01Q-Line Biotech's IPO raised ₹214.5 crore by offering 62.53 lakh shares at a price band of ₹326-343 per share.
- 02The IPO was heavily oversubscribed, with non-institutional and qualified institutional buyers bidding 146.3 times and 123.9 times their quotas.
- 03Bio Medica Laboratories' IPO was subscribed 2.19 times, raising ₹52.43 crore, while Autofurnish's IPO was subscribed 1.19 times, raising ₹14.6 crore.
- 04Q-Line Biotech plans to use ₹93.5 crore for working capital and ₹90 crore for debt repayment.
- 05Trading for Q-Line Biotech and Bio Medica shares will commence on May 29 on NSE Emerge, while Autofurnish will trade on the BSE SME platform.
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The initial public offering (IPO) of Q-Line Biotech, which specializes in diagnostic equipment and in-vitro diagnostics (IVD), has seen a remarkable subscription rate of 95.31 times, raising ₹214.5 crore. The IPO, which involved the issuance of 62.53 lakh shares at a price range of ₹326-343, attracted significant interest from various investor categories, with non-institutional and qualified institutional buyers leading the demand. In contrast, Bio Medica Laboratories' IPO was subscribed 2.19 times, raising ₹52.43 crore, while Autofurnish's IPO had a more modest response at 1.19 times, securing ₹14.6 crore. Bio Medica plans to utilize the funds for loan repayment and enhancing production capabilities, while Autofurnish will invest in new machinery and working capital. All three companies are set to finalize their share allotments by May 26, with trading commencing on May 29 for Q-Line Biotech and Bio Medica on the NSE Emerge, and Autofurnish on the BSE SME platform.
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The successful IPO of Q-Line Biotech indicates strong investor confidence in the diagnostics sector, potentially leading to increased funding for similar companies.
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