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Q-Line Biotec IPO

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GMP is an informal figure from outside SEBI's framework. Not investment advice.

About this issue

Q-Line Biotec listed at +31.8% against its issue price of ₹343. The book is 102.42 times subscribed overall. The grey market premium is +₹112 (+32.7%), which is an informal figure and not a quoted price. Our call is Apply, on 89% of our checks.

Segment: SME
Price: ₹343
Lot size: 400 shares
One lot costs: ₹1,37,200
Issue size: ₹204 Cr
Grey market premium: +₹112 (+32.7%)
Subscribed: 102.42x
Listed at: +31.8%
Our call: Apply

What we checked

Profitable in the latest yearPAT ₹38.69 Cr
Profit grew year on yearPAT +38%
Revenue grew year on yearRevenue -27%
Margin not collapsingPAT margin 9.0% vs 16.6%
Borrowing under half of net worthDebt/net worth 1.06
Return on net worth above 15%RoNW 23.7%
Post-issue P/E under 40P/E 15.5
Price to book under 6P/B 2.8
Majority is fresh capital100% fresh issue
Promoters keep at least half67.5% held post-issue
Anchor investors participatedAnchor book placed
Overall book more than 10× covered102.4× overall
Lead manager above segment medianHem Securities Ltd.: 93 past issues, +41% 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.

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