Quest Labs stock debuts with 60% premium on NSE SME platform

The issue, which was completely a fresh equity sale of Rs 44.49 lakh shares, received a healthy response from investors with an overall subscription of 80 times at close.

The net proceeds from the public offer will be used for funding capital expenditure towards purchase of plant and machinery for expansion, funding working capital requirements and other general corporate purposes.

Also Read:

Quest Laboratories is engaged in the business of manufacturing across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more. These formulations fall under the trademark Quest Laboratories.

The company produces a variety of products, comprising ethical drugs, , and over-the-counter drugs (OTC). These products are available in various forms such as tablets, liquid orals, oral dry powders, oral powders (ORS), ointments, and external liquids.

This approach allows the company to address a wide range of medical needs and preferences among patients.

holds WHO Schedule M GMP, and GLP certifications, adhering to the stringent guidelines set by the global body. With under one roof, it tries to maintain stringent quality control standards throughout the entire manufacturing process.

India's pharmaceutical industry leads globally, renowned for affordable generic drugs and vaccines. With a 9.43% CAGR over nine years, it ranks third in production volume. Diverse segments include generics, OTC meds, bulk drugs, vaccines, biosimilars, and biologics.

For the period ended December 2023, the company clocked of Rs 62.17 crore and net profit of Rs 7.74 crore.

acted as the lead manager to the issue and was the registrar.