Q-Line Biotech IPO
Q-Line Biotech LtdSME
This IPO has listed.
- Open date
- 21 May 2026
- Close date
- 25 May 2026
- Min. Investment
- ₹2,74,400
- Lot Size
- -
- Fresh Issue
- ₹214.48 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers123.94x
- Non-Institutional Investors108.29x
- Retail-Individual Investors71.44x
- Total95.31x
Schedule
- Completed: IPO open date21 May 2026
- Completed: IPO close date25 May 2026
- Completed: Allotment date26 May 2026
- Completed: Funds unblock or debit27 May 2026
- Completed: Tentative listing date29 May 2026
About
Promoter shareholding in Q-Line Biotech Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Saurabh Garg | 1,01,91,000 | 59.68% | 1,01,91,000 | 43.69% |
| Amita Garg | 39,37,480 | 23.06% | 39,37,480 | 16.88% |
| Ayush Garg | 31,500 | 0.18% | 31,500 | 0.14% |
| Ajay Kumar Mahanty | 7,50,000 | 4.39% | 7,50,000 | 3.21% |
| Abhay Agrawal | 7,56,010 | 4.43% | 7,56,010 | 3.24% |
| Pushplata Garg | 21,000 | 0.12% | 21,000 | 0.09% |
| Amit Agarwal | 31,510 | 0.18% | 31,510 | 0.14% |
| Shubham Garg | 31,500 | 0.18% | 31,500 | 0.14% |
Financials of Q-Line Biotech IPO
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | - | - | - |
| Other Income | - | - | - |
| Total Income | 182.74 | 203.65 | 313.78 |
| Total Expenses | 154.97 | 175.85 | 278.39 |
| Profit Before Tax | - | - | - |
| Total Profit | 32.10 | 34.44 | 28.13 |
Q-Line Biotech IPO Strengths & Risks
- Established manufacturing capabilities with focus on R&D, Reverse Engineering and quality control.
- Diversified product portfolio with focus on IVD industry.
- Widespread distribution network with a presence across all four regions.
- Long standing relationships with customers.
- Track record of healthy financial performance.
- Experienced Promoter and Management team.
- Risks Relating to the Business: Any disruption, stoppage, slowdown or shutdown in the company manufacturing facilities or process or research and development activities could adversely affect its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Any delay, interruption or reduction in the supply of the company raw materials, trade goods from its suppliers and manufacturers both domestic and imported, or an increase in the costs of such raw materials, trade goods may adversely impact the pricing and supply of the company products and has an adverse effect on the company business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company business is dependent on the sale of its products through distributors which also include the company group entity POCT services. The loss of any of these distributors or third parties for any reason may adversely affect the marketing and distribution of its products and could negatively impact the company business, results of operations, financial conditions and cash flows.
- Risks Relating to the Business: The company is dependent on certain key suppliers to procure a significant portion of the company Raw material for production of reagents and for traded machines. Any denial of supplies or loss of the relationship with them could result in disruption in its operations, which could has an adverse effect on the company business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company is required to obtain, maintain or renew its statutory and regulatory approvals, licenses, and registrations to operates the company business.
- Risks Relating to the Business: For manufacturing of its machines and reagents, the company is dependent on the agreement with the European companies, any failures to renew the agreement or entering into the agreement on the terms which is not favourable for its may impact the company business operations, financial condition and cash flows.
- Risks Relating to the Business: The company erstwhile associate company i.e. POCT Science House Private Limited and its promoters namely Saurabh Garg and Amita Garg has been subject to search and seizure operations by the Income-tax Department and any adverse outcome of these proceedings may adversely affect the company financial condition.
- Risks Relating to the Business: The company operations is concentrated in North India, and any loss of business in such region could has an adverse effect on the company business, results of operations and financial condition.
- Risks Relating to the Business: The Company requires a significant amount of working capital for continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.
- Risks Relating to the Business: The company is subject to risks arising from exchange rate fluctuations.
- Risks Relating to the Business: The company has experienced negative cash flows from operating activities in the last three Fiscal years and may continue to has negative cash flows in the future which could has an impact on the company business and operations.
- Risks Relating to the Business: Fluctuations in interest rates could adversely affect the company results of operations.
- Risks Relating to the Business: The company depends on a limited number of customers for its revenue from operations, the loss of any of these Customers individually or severally could has a material adverse effect on the company business, operations and could has impacted the company financial strength.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: The company work on government tender/agreements/commitment basis with its customers who purchase or place orders with the company, also its has price agreements with the company customers. If its customers select some other vendors/competitors for their requirement, it may has adverse effect on the company business.
- Risks Relating to the Business: The Company is governed by stricter laws for manufacturing, subject to Clinical Validation and Accuracy, research & Development for their product and services, any failures to comply with these norms and regulations could affect the company ability to effectively manufacture, test and market its products, which may has an adverse effect on the company business, results of operations and financial condition.
- Risks Relating to the Business: The company inability to meet its obligations, including financial and other covenants under the company debt financing arrangements could adversely affect its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: There is certain discrepancies/errors/ non-compliances noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 1956/2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: The company is exposed to the high holding period for debtors for the finished goods supplied which can impact its working capital requirement and also impacts the company cash flows.
- Risks Relating to the Business: Any fault or inadequacy in the company quality control, not maintaining quality standards or default in manufacturing processes may damage its reputation, business operations and may subject the company to regulatory action and expose its to litigation or other liabilities.
- Risks Relating to the Business: The company ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company access to capital and thereby adversely affect its business, financial conditions, cash flows and results of operations.
- Risks Relating to the Business: The company Promoters will be able to exercise significant influence and control over its after the Offer and may has interests that are different from or conflict with those of the company other shareholders.
- Risks Relating to the Business: Certain of the company shareholders, Directors, Key Management Personnel and Senior Management may be interested in its Company other than in terms of remuneration and reimbursement of expenses. The company Promoters, Directors and some of its Key Managerial Personnel may has interest in entities, which are in businesses similar to the company and this may result in conflict of interest with its.
- Risks Relating to the Business: Some of the company business operations is being conducted on leased / rented, sub lease and leave license basis. The company inability to seek renewal or extension of such leases may materially affect its business operations.
- Risks Relating to the Business: The company inability to protect or use its intellectual property rights or comply with intellectual property rights of others may adversely affect the company business and results of operations.
- Risks Relating to the Business: The company operations depends on the availability of skilled employees, machine operators, scientist and technicians with expertise in healthcare sector. Inability to attract or retain such personnel may affect manufacturing, R&D process which may impact financial condition, cash flow and future growth.
- Risks Relating to the Business: The company insurance coverage may not be adequate to protect its against certain operating hazards and this may have a material adverse effect on the company business and financial conditions.
- Risks Relating to the Business: The company business may be adversely affected by international sanctions, changes in trade policy or the imposition of non-tariff barriers, which could impact its operations and exports.
- Risks Relating to the Business: The company has encountered challenges in meeting the designated timelines for filing statutory returns, which may subject its to penalty under the relevant laws.
- Risks Relating to the Business: The company is exposed to risk related to disposal of the company used products, if its is not able to dispose these as per the regulatory requirement the company may faces sanctions, restrictions which may lead to loss, unstable financial position, interrupted business operation or suspension of licences.
- Risks Relating to the Business: Any failures on the company part to effectively address investor complaints or grievances in a timely manner may expose its to regulatory action and adversely affect the company reputation, business and financial condition.
- Risks Relating to the Business: The company Subsidiaries/Associate, Q-line Innovations Private limited and Q-line IRIS Private limited has incurred losses in Fiscal 2025, 2024 and Fiscal 2023, respectively, and may does so in the future, which could have a material adverse effect on the company business, prospects, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company inability to accurately forecast demand for its products and manage the company inventory may has an adverse effect on its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company may faces pricing pressure from its competitors, local or state government as a result of low-cost alternative products in the market, Implementation of pricing policies by the Government or other authorities at lower price that its will be able to respond adequately to such pricing pressure.
- Risks Relating to the Business: The company inability to successfully implement some or all its business strategies in a timely manner or at all could have an adverse effect on its business.
- Risks Relating to the Business: Delay in delivering or failures in the performance of the company contracts for whatsoever reason with its customers for supply of the company products and machines, whether on its part or on the part of carrying and forwarding ("C&F") agents, may adversely affect the company business.
- Risks Relating to the Business: If the company fail to retain its existing or acquire additional customers in a cost-effective manner, the company business, financial condition and results of operations could be adversely affected. Further, if its try to pass on the increased costing to the company customers, its customers may choose the company competitors over its.
- Risks Relating to the Business: The company is appointing contract labour for carrying out certain of its operations in the department of manufacturing, administration and others for which the company may be held responsible for payment of their salary and wages and statutory dues and its may also incur some legal charges if the contractor with whom the company has appointed the labour fails to pay such charges and obligations which could have an adverse effect on the company financial condition, results of operations and cash flows.
- Risks Relating to the Business: If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
- Risks Relating to the Business: Breakdown, mishaps or accidents could result in a loss or slowdown during transportation and could also cause damage to life and property.
- Risks Relating to the Business: The company products may not provide proper results if the reagent is not as per the quality standard or the machinery is not functioning properly or for any other reasons, which may affect adversely its business operations, cash flow and profitability.
- Risks Relating to the Business: Any actual or perceived cybersecurity, data or privacy breach could interrupt the company operations and adversely affect its reputation, brand, business, financial condition and results of operations.
- Risks Relating to the Business: The "Q-line" brand, is critical to the company ability to acquires new users and grow its business. If the company is not able to maintain its brand or reputation the company operations could materially and adversely affect user acceptance of its platform and the company operations
- Risks Relating to the Business: Information relating to the installed manufacturing capacity, actual production and capacity utilization of the company manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity may vary.
- Risks Relating to the Business: The company business is dependent on the volume of the goods its sell to achieve the optimum level of profits, if the company is not able to achieve the volumes its will end up incurring losses on account of fixed cost.
- Risks Relating to the Business: The company is dependent on third parties for the supply of utilities, such as water, gas and electricity, at its manufacturing facilities and any disruption in the supply of such utilities could adversely affect its manufacturing operations.
- Risks Relating to the Business: Unsecured loans taken by the company/ its Subsidiaries/ Associates can be recalled at any time.
- Risks Relating to the Business: The Company is party to certain legal proceedings, any adverse decision in such proceedings may has a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company Contingent Liability and Commitments could affect its financial position.
- Risks Relating to the Business: Failures to comply with evolving data protection and privacy laws, or any cybersecurity breaches, could expose its to regulatory action, penalties, and reputational harm.
- Risks Relating to the Business: The company directors has no prior experience in managing a listed company, which may pose challenges in complying with regulatory requirements.
- Risks Relating to the Business: There is no listed peer companies in India with business models comparable to the company, which makes it difficult to benchmark its performance and valuation.
- Risks Relating to the Business: Changes in technology may render the company current technologies obsolete or require its to undertake substantial capital investments, which could adversely affect the company results of operations.
- Risks Relating to the Business: Any Penalty or demand raised by statutory authorities in future may adversely affect the financial position of the Company.
- Risks Relating to the Business: The company may faces competition from a number of international and domestic companies, which may adversely affect its market position and business.
- Risks Relating to the Business: Industry-related information included in this Draft Red Herring Prospectus has been derived from the CareEdge Report, which has been exclusively commissioned and paid for by the Company solely for the purposes of the Offer. This Report and the Dataset are subject to various limitations and are based upon certain assumptions that are subjective in nature.
- Risks Relating to the Business: The company success depends largely upon the services of its Directors, Promoters and other Key Managerial Personnel and the company ability to attract and retain them and hire new talent. Demand for key managerial personnel in the industry is intense and its inability to attract and retain key managerial, may affect the business and operations of the Company.
- Risks Relating to the Business: Failures to deal effectively with any fraudulent transactions, employee misconduct and illegal activity by Suppliers, Customers, Service providers, workers and the company employees could harm its business and reputation and expose the company to liability.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company Promoter, is lower than the faces value of Equity Share.
- Risks Relating to the Business: The company Promoter Group will continue to retain majority shareholding in its Company after this Offer which will allow it to exercise significant influence over the company.
- Risks Relating to the Business: Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company major shareholders may adversely affect the trading price of its Equity Shares.
- Risks Relating to the Business: The Issue Price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Risks Relating to the Business: The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- Risks Relating to the Business: The Objects of the Issue for which funds are being raised has not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company profitability adversely.
- Risks Relating to the Business: The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
