Qualitek Labs Limited has launched its Initial Public Offering (IPO) to raise Rs 19.64 crore via a fresh issue of 19.64 lakh equity shares. The company has fixed the price band at Rs 100 per share of a face value of Rs 10 each. The public issue of Qualitek Labs Limited opens for subscription on January 18, 2024 and closes on January 22, 2024. The company will be listed on the BSE SME on January 25, 2024.
About Company
Founded in 2018, Qualitek Labs Limited is a laboratory company that provides testing, inspection, certification, homologation and audit services. The company claims to have worked with 560 clients till date with clients such as Patanjali, Hindustan Unilever Limited, Mondelez International, Glenmark etc.
Alok Kumar Agarwal, Antaryami Nayak, Kamal Grover, and TIC Services Private Limited are the promoters of the company.
Objects of the Issue
The company proposes to utilise the net proceeds from the issue towards setting up new labs and expansion of existing ones, repayment of unsecured loans to promoter, funding working capital requirements and general corporate purposes.
Qualitek Labs IPO Details Overview
| Offer Dates | |
| Opening | January 18, 2024 (Thursday) |
| Closing | January 22, 2024 (Monday) |
| Issue Details | |
| IPO Type | Fixed Price, Fresh Issue |
| Issue Size | 1,964,400 shares (aggregating up to ₹19.64 Cr) |
| Fresh Issue | 1,964,400 shares (aggregating up to ₹19.64 Cr) |
| Offer for Sale | None |
| Market Maker Reservation | 99,600 shares |
| Face Value | ₹10 per Share |
| Price Band | ₹100 per share |
| Lot Size | 1200 Shares |
| Lot Amount | ₹1,20,000 |
| Holding before issue | 54,07,500 Shares |
| Holding after issue | 73,71,900 Shares |
| IPO Organizer | |
| Listing at | BSE SME |
| BRML | Oneview Corporate Advisors Private Limited |
| Registrar | Skylike Financial Services Private Limited |
| Market maker | Nikunj Stock Brokers |
| Reservation & Lot details | |
| – Retailer investors: 50% of the net offering. Can apply for only 1 lot (1200 Shares). – 50% of the net offer is reserved for other investors including QIBs, NIIs. – HNIs can bid for minimum 2 lots (2400 shares) | |
| Share Allotment & listing | |
| Finalization of allotment basis | January 23, 2024 (Tuesday) |
| Credit of Shares to Demat / Refunds / Unblocking of Funds | January 24, 2024 (Wednesday) |
| IPO Listing Date / Share Trading | January 25, 2024 (Thursday) |
Company’s Financials
The company posted a rise of 61.03% in revenue and 161.43% rise in profit after tax in in FY23 over FY22.
| Financial Period Ending in | 30 Sep’23 | 31 Mar’23 | 31 Mar’22 | 31 Mar’21 |
| Net Worth | 1,187.46 | 986.52 | 189.61 | -22.96 |
| Total Assets | 4,409.68 | 3,955.61 | 2,219.86 | 1,459.88 |
| Revenue | 1,250.74 | 1,935.13 | 1,201.73 | 637.44 |
| Profit After Tax (PAT) | 200.93 | 296.91 | 113.57 | 46.11 |
| Reserves & Surplus | 646.71 | 445.77 | 143.61 | -23.96 |
| Total Borrowing | 2,499.59 | 2,344.67 | 1,728.68 | 1,121.82 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicators
| KPI | Values |
| P/E Ratio Pre-IPO | 18.21 |
| P/E Ratio Post-IPO | 18.34 |
| Earnings Per Share (EPS) Pre-IPO | ₹5.49 |
| Return on equity (ROE) | 50.49% |
| Return on capital employed (RoCE) | 13.76% |
| Return on Net Worth (RoNW) | 30.10% |
Subscription Status
The subscription status for the Qualitek Labs Limited IPO will be updated live on the website of BSE during the offer period. You can check the subscription numbers for Qualitek Labs IPO here at BSE website.
Below table will be updated on daily basis.
| Investor category | Subscription status (times) |
| QIBs | – |
| NIIs | – |
| Retail | – |
| Overall | – |
Allotment of Shares
Once the offer period ends, the basis of allotment for the Qualitek Labs IPO will be finalised on January 23, 2024 according to the date mentioned in the RHP document. Skyline Financial Services Private Limited is the registrar for the issue and will oversee the allotment process. The investors may check the allotment status of their application by visiting the registrar’s website on the said date.
Listing Info
The Qualitek Labs Limited will be listed on the SME segment of the BSE on January 25, 2024. Here is the listing information.
| Security Type | Equity, BSE SME |
| Symbol | QLL |
| IPO Price | ₹100 |
| Listing date | January 25, 2024 |
| Opening Price | Check on BSE |
Note: Refer to the RHP for more details.
