Q-Line Biotech IPO Opens 21 May; SME Issue Priced At ₹326-343 Per Share

Q-Line Biotech will open its ₹214.48 crore initial public offering (IPO) on 21 May in what is set to be the biggest small and medium enterprise (SME) IPO of the year so far. The company develops reagents across clinical chemistry, haematology, immunodiagnostics and molecular diagnostics.

It also manufactures pathology equipment and point-of-care diagnostic devices. Its products cater to distributors, hospitals and diagnostic service providers.

Q-Line BioTech IPO Details

The Uttar Pradesh-based company fixed the price band at ₹326-343 per share. The issue will close on 25 May, while the anchor investor portion will open for one day on 20 May. The Q-Line BioTech IPO is entirely a fresh issue of 62.53 lakh shares. There is no offer-for-sale component. Hem Securities and Share India Capital Services are the merchant bankers to the issue.

Here are the other key details of this IPO:

The company had earlier raised ₹27.44 crore in a pre-IPO placement by issuing 8 lakh shares at the upper end of the price band. Following the placement, the IPO size was reduced by the same number of shares.

Funds To Be Used For Debt Repayment, Working Capital

Q-Line Biotech said it plans to use ₹93.5 crore from the IPO proceeds towards working capital needs. Another ₹90 crore will go towards repayment of certain borrowings, while the remaining amount will be used for general corporate purposes.

The company said its total outstanding fund-based borrowings from banks and financial institutions stood at ₹242.6 crore as of December 2025. The IPO comes at a time when several SME companies are tapping the primary market to raise growth capital and reduce debt amid strong retail investor participation in the segment.

Financial Performance

Q-Line Biotech reported revenue of ₹232.4 crore and profit of ₹38.7 crore for the nine months ended December 2025. For FY25, revenue rose 54% year-on-year to ₹313.8 crore. However, profit fell 18.3% to ₹28.1 crore due to an exceptional loss of ₹16.96 crore, according to company disclosures.

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Promoter Holding And Investors

Promoters currently hold a 92.24% stake in the company ahead of the IPO. The remaining 7.76% stake is held by public shareholders, including Carnelian Asset Advisors founder Vikas Vijaykumar Khemani, who owns 2.55%, and Calliope Capital Advisors with a 1.37% stake.

Sources:

Moneycontrol

RHP