Quest Laboratories Soars on NSE Debut, Shares Jump 60% Above IPO Price!

Quest Laboratories debuted on the NSE with shares surging to Rs 155, a 60% premium over their IPO price range of Rs 93 to 97, showcasing a robust market entry.
Quest Laboratories Soars on NSE Debut, Shares Jump 60% Above IPO Price!

Quest Laboratories Limited had a stellar debut on the NSE SME platform, listing at Rs 155 per share on May 23, a 60% premium above the IPO price band of Rs 93 to Rs 97. This marked a strong market entrance for the company.

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The Rs 43.16 crore public offering of 44.5 lakh shares attracted significant investor attention, being oversubscribed by 85 times. Non-institutional investors led with 184 times their quota, while retail and QIB investors subscribed 58 and 57 times with their respective portions.

Quest Laboratories Limited manufactures a wide array of pharmaceuticals, including antibiotics and antimalarials, in forms like tablets and ointments. Certified by the FDA for quality lab practices, they use advanced tools such as HPLC and GC for precise analysis. Their production relies on quality APIs and excipients, with strong supplier networks ensuring consistent quality and supply.

Quest Laboratories Ltd aims to fund capital expansions and working capital with their IPO proceeds. They plan to spend INR 26 crores on expanding injectable production and INR 10 crores on working capital for FY 2025. The remaining funds will go towards general corporate purposes, including facility upgrades, marketing, and potential debt repayment.

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