Qualitek Labs IPO Subscription Details: Qualitek Labs IPO continued receiving strong subscriptions on Day 2 of bidding. The issue was subscribed 6.55 times at 2:45 pm on Day 2 (January 19). It received bids for 1.22 crore shares as against 18.64 shares on the offer. The retail category was subscribed the most, 8.26 times while the NII quota was subscribed just 84 percent. Meanwhile, on Day 1, the issue was subscribed 35 percent.
Table of Contents
Qualitek Labs IPO Details
The SME IPO opened for subscription on January 18 and will close on January 22. The company has fixed a price of ₹100 per equity share with a face value of ₹10. The issue is entirely a fresh issue of 19.64 lakh shares worth ₹19.64 crore.
The net proceeds from the issue are to be utilised towards funding the capital expenditure towards the installation of plant and machinery for existing laboratories and for expansion of laboratories, repayment of unsecured loans to the promoter, working capital requirements of the company, and general corporate purposes, according to the company’s DRHP report.
The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹1,20,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹2,40,000.
Qualitek Labs IPO has reserved not more than 50 percent of the shares in the public issue for retail investors.
Oneview Corporate Advisors Private Limited is the book-running lead manager of the Qualitek Labs IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Qualitek Labs IPO is Nikunj Stock Brokers.
Qualitek Labs IPO basis for allotment of shares will be finalised on January 23, and the company will initiate refunds on January 24. The shares will be credited to the demat accounts of allottees on the same day following the refund. Qualitek Labs shares are likely to be listed on the BSE SME Platform on January 25.
About Qualitek Labs
Qualitek Labs is primarily engaged in the business of providing testing, inspection, homologation, certification, and consultancy services to various industries, including automotive, defence, minerals and metals, environment, and food & beverage.
As of now, the company has a presence in Pune and Bhuwaneshwar, and it is looking to expand its services in Noida and Pune, apart from the existing laboratory in Pune, its DRHP report showed.
On the financial performance front, for the last three fiscals, the company has (on a standalone basis) posted a total income/net profit of ₹6.37 crore/ ₹0.46 crore (FY21), ₹12.02 crore/ ₹1.14 crore (FY22), and ₹19.35 crore/ ₹2.97 crore (FY23), and for H1 of FY24 ended on September 30, 2023, it earned a net profit of ₹2.01 crore on a total income of ₹12.51 crore.
Qualitek Labs GMP today
The company’s shares in the grey market continued trading at 0, indicating no premium versus the IPO price at listing. It has been the same since it started trading in the grey market on January 17, 2024.
However, one must note that grey market premium is only an indicator of how the company’s shares are performing in the unlisted market and can change quickly.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
More
Less
Published: 19 Jan 2024, 02:47 PM IST
Reference :
Reference link
