In a remarkable debut on BSE SME, Qualitek Labs shares started trading at ₹190, showcasing a substantial 90% premium over the issue price of ₹100.
The Qualitek Labs IPO, which was open for subscription from January 18 to January 23, witnessed an overwhelming response from investors, with the subscription reaching 58.95 times on the final day. The company, specializing in testing, inspection, certification, homologation, and consultancy services, offered its IPO at a price band of ₹100, with a lot size of 1,200 shares. Investors had the option to bid for a minimum of 1,200 shares and in multiples thereof.
The IPO consisted of a fresh issue of 19.64 lakh shares, amounting to ₹19.64 crore. The net proceeds from the IPO are earmarked for funding capital expenditure, including the installation of plant and machinery for existing laboratories, laboratory expansion, repayment of unsecured loans to the promoter, working capital requirements, and general corporate purposes, as outlined in the company’s DRHP report.
Oneview Corporate Advisors Private Limited served as the book-running lead manager for the Qualitek Labs IPO, with Skyline Financial Services Private Ltd acting as the registrar. Nikunj Stock Brokers functioned as the market maker for the IPO.
As of today, the Grey Market Premium (GMP) for Qualitek Labs IPO stands at +60, consistent with the four previous sessions. This GMP indicates that Qualitek Labs shares are trading at a premium of ₹60 in the grey market, according to investorgain.com.
Taking into account the upper end of the IPO price band and the current grey market premium, the estimated listing price for Qualitek Labs shares is anticipated to be ₹160 per share, reflecting a significant 60% increase over the IPO price of ₹100.
Analysts note that the GMP trend in the grey market has been consistently upward, suggesting a strong listing for Qualitek Labs shares. The range of GMP in the last 13 sessions has fluctuated between ₹0 and ₹68, providing insights into investors’ willingness to pay a premium over the issue price.
