Bio Medica Laboratories IPO

About this issue

Bio Medica Laboratories listed at -20.0% against its issue price of ₹139. The book is 2.26 times subscribed overall. The grey market premium is ₹-9 (-6.5%), which is an informal figure and not a quoted price. Our call is Not Suggested, on 56% of our checks.

Segment

SME

Price

₹139

Lot size

1,000 shares

One lot costs

₹1,39,000

Issue size

₹50 Cr

Grey market premium

₹-9 (-6.5%)

Subscribed

2.26x

Listed at

-20.0%

Our call

Not Suggested

What we checked

• Profitable in the latest yearPAT ₹8.66 Cr
• Profit grew year on yearPAT -12%
• Revenue grew year on yearRevenue -25%
• Margin not collapsingPAT margin 25.6% vs 30.4%
• Borrowing under half of net worthDebt/net worth 2.23
• Return on net worth above 15%RoNW 99.6%
• Post-issue P/E under 40P/E 13.4
• Price to book under 6P/B 8.7
• Majority is fresh capital89% fresh issue
• Promoters keep at least half67.7% held post-issue
• Anchor investors participatedNo anchor book
• Overall book more than 10× covered2.3× overall
• Lead manager above segment medianNarnolia Financial Services Ltd.: 30 past issues, +29% avg vs +8% segment median

2 further checks could not be judged, because the issue did not disclose enough. They count neither for nor against.