IPO Details

Bidding Dates

15 May '24 - 17 May '24

Minimum Investment

₹1,16,400/1 Lot ( 1,200 Shares )

Price Range

₹93 - ₹97

Maximum Investment

₹1,16,400/1 Lot ( 1,200 Shares )

Retail Discount

To be announced

Issue Size

₹43.16 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 15, 2024

IPO Closing Date

May 17, 2024

Basis of Allotment

May 21, 2024

Initiation of Refunds

May 22, 2024

Credit of Shares to Demat

May 22, 2024

IPO Listing Date

May 23, 2024

Cut-off time for UPI mandate confirmation

May 17, 2024

About Quest Laboratories Ltd

Quest Laboratories Limited, established in June 1998, is a distinguished pharmaceutical manufacturer offering a diverse portfolio of formulations encompassing antibiotics, antimalarials, antispasmodics, and more. Operating across 12 states and 2 union territories in India, including Uttar Pradesh, Madhya Pradesh, Maharashtra, and Delhi, the company serves both private and government sectors.

Located in Dhar, Madhya Pradesh, Quest Laboratories boasts a state-of-the-art manufacturing facility spread over approximately 4,065 square meters. With 83 dedicated professionals, the company maintains rigorous quality standards, holding WHO Schedule M GMP, GLP, ISO/IEC 17025:2017, and ISO 9001:2015 certifications.

Equipped with advanced laboratory infrastructure, including HPLC, GC, FTIR, and UV spectrophotometers, Quest Laboratories ensures precise testing and analysis. Their commitment to safety is evident through adherence to internal health and safety protocols and regular safety meetings.

By integrating manufacturing under one roof, Quest Laboratories optimises production processes, ensuring compliance, reducing lead times, and offering cost-effective solutions.

This collaborative approach extends benefits to purchasers, including bulk production cost-efficiency, regulatory compliance, and access to specialised technologies. With a reputation for reliability and efficiency, Quest Laboratories is a trusted partner in pharmaceutical manufacturing and laboratory services.

Industry Outlook:

  1. The Indian pharmaceutical industry is poised to reach US$ 65 billion by 2024, driven by a 6-8% CAGR, primarily fueled by exports.
  2. India's biotechnology sector, valued at over US$ 80 billion in 2022, marks a significant growth trajectory, ranking among the top destinations globally.

Quest Laboratories Limited IPO Details

Quest Laboratories Limited IPO Dates

Quest Laboratories IPO is open from May 15, 2024, to May 17, 2024. The IPO will be listed on NSE Emerge.

Quest Laboratories Limited IPO Price Band

Quest Laboratories is a book built issue IPO. The price band is set to ₹93 to ₹97 per share.

Quest Laboratories Limited IPO Lot Size

The lot size for Quest Laboratories Limited’s IPO is 1,200 shares, with a minimum investment of ₹1,16,400.

Quest Laboratories Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding of capital expenditure towards the purchase of plant and machinery for expansion at the existing manufacturing facility;
  2. Funding working capital requirements of the company;
  3. General corporate purposes.

Peer Details

The companies considered by Quest Laboratories as its peers include:

  1. Beta Drugs Limited
  2. Alpa Laboratories Limited
  3. Zenith Drugs Limited

How to Check the Allotment Status of the Quest Laboratories Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the Individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Quest Laboratories Limited IPO

  • Registered office: Plot No. 45, Sector III, Pithampur Industrial Area, Pithampur, Dhar - 454775, Madhya Pradesh, India
  • Phone: 07292292374
  • E-mail:investors@questlabltd.com

IPO Financials

Particulars 9-Month period Ending on December 31, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operations (in ₹ lakh) 6207.98 6,164.06 5,948.39 3,036.35
Profit After Tax (PAT) (in ₹ lakh) 774.93 502.85 410.50 65.50
Cash & Cash Equivalents (in ₹ lakh) 4.54 249.69 156.92 41.63
Net Worth (in ₹ lakh) 2277.15 1,502.21 999.38 588.84
Debt to Equity Ratio (x) 0.20 0.27 0.31 0.52
Return on Equity (%) 34.03% 40.20% 51.69% 11.78%
Return on Capital Employed (RoCE) (%) 41.86% 38.03% 44.65% 11.82%
Diluted Earning Per Share (EPS)-in absolute ₹ 7.18 4.66 3.81 0.61

Know before investing


  1. Quest Laboratories Limited boasts a versatile manufacturing facility capable of producing over 600 formulations and adapting swiftly to market demands.

  2. With a significant revenue stream from government institutions, Quest leverages bulk orders and favourable pricing, ensuring stable business growth.

  3. Its diverse product portfolio, spanning generics, branded drugs, and specialised medications, enables Quest to cater effectively to various market segments.

  4. Backed by a robust research and development department, Quest focuses on innovation, process optimisation, and quality enhancement, ensuring industry-leading formulations.


  1. Quest Laboratories Limited faces legal risks with pending litigation against its promoter, potentially resulting in penalties of up to ₹20,000 and imprisonment.

  2. Regulatory compliance challenges could disrupt Quest Laboratories Limited's operations, damage its reputation, and expose it to litigation.

  3. Quest Laboratories Limited's revenue heavily depends on pharmaceutical industry demand, making it vulnerable to industry downturns or technological shifts.

  4. Competition poses risks to Quest Laboratories Limited, potentially leading to product obsolescence or pricing pressure, impacting its revenue and profitability.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Quest Laboratories IPO FAQs

What is Quest Laboratories Ltd's IPO?

Quest Laboratories Limited IPO is a book-built IPO. The IPO will be open from May 15, 2024, to May 17, 2024.

When will Quest Laboratories Ltd's IPO be allotted?

The Basis of Allotment will happen on Tuesday, May 21, 2024.

When will Quest Laboratories Ltd's IPO open for subscription?

The IPO subscription window will open on May 17, 2024.

What minimum lot size can retail investors subscribe to?

The lot size for Quest Laboratories Limited’s IPO is 1,200 shares, with a minimum investment of ₹1,16,400.

When will Quest Laboratories Ltd list on exchanges?

The listing date for Quest Laboratories is Thursday, May 23, 2024.

What would be the listing gains on the Quest Laboratories Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Quest Laboratories Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Quest Laboratories Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Quest Laboratories Ltd using one PAN?

You can submit only one application using your PAN card.