Q-Line Biotech IPO - Company Analysis
Q-Line Biotech IPO under the SME IPO category is a bookbuild issue of Rs. 214.48 Cr by Q-Line Biotech Limited and is involved in the development, production, and marketing of a wide variety of consumables and reagents (including kits and POC devices), as well as the production, importation, distribution, and supply of diagnostic equipment for various diagnostic healthcare needs.
Since 2013, the company has primarily supplied diagnostic service providers, hospitals, and medical colleges with IVD goods and diagnostic equipment for various diagnostic healthcare needs, either directly or through our distributors.
Indigenous production of reagents (Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics, and Others [POC Devices & Rapid Tests]) and supply/manufacturing of in-vitro diagnostics (IVD) and pathology equipment & devices are the company's primary manufacturing segments.
Q-Line Biotech IPO Details
The Q-Line Biotech IPO date of opening is 21 May 2026, its initial public offering will end on 25 May, IPO allotment on May 26 and refund initiation on May 27, 2026.
The Rs. 214.48 crore new SME IPO comprises a wholly fresh issue of 0.63 crore shares.
The Q-Line Biotech IPO listing date (expected) might be Friday, May 29, 2026, and listing at the NSE and SME.
The Q-Line Biotech IPO price band is Rs. 326 to Rs. 343.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
May 21, 2026 |
|
IPO Closing Date |
May 25, 2026 |
|
IPO Allotment Date |
May 26, 2026 |
|
Refund Initiation |
May 27, 2026 |
|
IPO Listing Date |
May 29, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
455.49 |
339.25 |
251.58 |
|
Total Income |
322.58 |
206.45 |
184.81 |
|
Profit After Tax |
28.13 |
34.44 |
32.10 |
|
EBITDA |
71.32 |
37.63 |
32.98 |
|
Net Worth |
189.95 |
161.81 |
127.37 |
|
Reserves and Surplus |
188.37 |
160.24 |
125.79 |
|
Total Borrowing |
164.95 |
96.91 |
73.65 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
(132.20) |
(2,417.94) |
2,496.86 |
|
Net Cash Flow Investing Activities |
(5,909.25) |
(4,468.78) |
(2,631.38) |
|
Net Cash Flow Financing Activities |
5,333.98 |
1,698.62 |
2,640.34 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- To meet working capital requirements. ~ Rs. 93.50 Cr.
- Repayment of certain borrowing availed by the Company, in part or in full. ~ Rs. 90 Cr.
- General Corporate Purposes.
Listed Peers of Q-Line Biotech Ltd.
No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.
Valuation
|
KPI |
Value (Mar 31, 2025) |
|
ROE |
17.66% |
|
ROCE |
23.74% |
|
Debt/Equity |
0.87 |
|
RoNW |
23.74% |
|
PAT Margin |
8.97% |
|
EBITDA Margin |
22.73% |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 28.63 from the last year, the resulting P/E ratio is 11.98x.
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IPO's Strengths
- Established production capabilities with an emphasis on quality control, R&D, and reverse engineering.
- A varied product line with an emphasis on the IVD sector
- An extensive distribution network is present in each of the four regions.
- Long-standing connections with clients.
IPO's Weaknesses
- Regulatory & Compliance Risk
- Biomedical & Product Accuracy Risk
- Quality Control & Manufacturing Risk.
Q-Line Biotech IPO GMP
Q-Line Biotech IPO GMP today is Rs. 110 as of 20 May 2026, while writing this information. A price band set at Rs. 343 suggests that the estimated listing price of the IPO could be around Rs. 453, indicating a gain/loss of 32.07%.
Q-Line Biotech IPO Summary
|
IPO Opening & Closing Date |
21 May, 2026 to 25 May, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 326 to Rs. 343 per Share. |
|
Lot Size |
400 Shares |
|
Issue Size |
62,53,200 Shares (Rs. 214 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
59,40,000 Shares (Rs. 204 Cr) |
|
Listing at |
NSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Purva Sharegistry (India) Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (800 Shares) for Rs. 2,74,400, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (1200 Shares) for Rs. 4,11,600.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Q-Line Biotech IPO Allotment Status
To check the Q-Line Biotech IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Q-Line Biotech Ltd.
- Saurabh Garg
- Amita Garg
- Ayush Garg
- Ajay Kumar Mahanty
- Abhay Agrawal
|
Pre-Issue Promoter Shareholding |
96.77% |
|
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
- Hem Securities Ltd.
Dividend Policy
The company has not paid a dividend during the last three financial years.
Conclusion
Q-Line Biotech IPO shows strong revenue growth, large issue size, and a healthy EBITDA margin with expansion focused on working capital and debt repayment. However, investors should consider SME IPO risk, negative operating cash flow, rising borrowings, and regulatory/quality risks in the diagnostic healthcare business.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company, Click Here to Download the DRHP.
DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is only for educational purposes. Always discuss with your SEBI-registered financial advisor for investment-related decisions.
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