Q-Line Biotech NSE SME IPO review

  • The company is engaged in the business of developing, manufacturing and marketing of diverse range of reagents and consumables.
  • It posted growth in its top lines for the reported periods, but suffered a setback for FY25 in bottom line following accounting adjustments.
  • As the company has no listed peers, it is trying to extract fancy price for its IPO.
  • Based on its overall financial data, the issue appears fully priced.
  • Well-informed investors may park moderate funds for long term.
Dilip Davda

About Company

Q-Line Biotech Ltd. (QBL) is engaged in the business of developing, manufacturing and marketing of diverse range of reagents (including kits and POC devices) & consumables and manufacturing, importing, distribution/supply of diagnostic equipment for different diagnostic healthcare needs. The company supplies diagnostic equipment and IVD products for different diagnostic healthcare needs since 2013 directly or through its distributor/s majorly to diagnostic service providers, hospitals and medical colleges. 

The company has established its brands over a period of 12 years through its experience, R & D, manufacturing capabilities and quality assurance. The core segments of operations of the Company in IVD Industry include Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics and Others (POC Devices & Rapids).

QBL’s key manufacturing segments include indigenous manufacturing of reagents including Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics and Others (POC Devices & Rapids) and supplying/ manufacturing of in-vitro diagnostics (IVD), Pathology equipment’s & devices. Further during the Covid-19 pandemic, the company diversified its focus and with the technical collaboration of third-party institutes and through its own R&D team developed a range of Covid testing kits viz. RT-PCR Kits, RNA Extraction Kits, VTM Kits etc.

It is research driven company engaged in developing and manufacturing a wide range of reagents formulations used across various IVD and diagnostic needs. The company leverages its R&D capabilities to develop and manufacture a portfolio of differentiated reagent formulations /products. Further, for its certain Class of Reagent & equipment’s and devices manufacturing business, the company has entered into technical collaboration with certain international companies. Under the agreement terms, it undertakes the manufacturing of these Reagent and equipment’s and devices as per the technical collaboration and specifications provided by the partners or companies. 

With the help of these collaborations the equipment and devices adhere to strict quality control, international standards and certifications. As of March 31, 2026, the company employed 19 personnel at R&D laboratories, which constituted 5.25% of its total permanent employee strength. As of March 31, 2026, it had 362 employees on its payroll and additional 223 contract employees in various departments.

Q-Line Biotech IPO

Issue Details / Capital History

The company is coming out with its maiden book building route IPO of 6253200 equity shares of Rs. 10 each to mobilize Rs. 214.48 cr. at the upper cap. The company has announced a price band of Rs. 326 - Rs. 343 per share.  The minimum application to be made is for 800 shares and in multiples of 400 shares thereon, thereafter. The IPO opens for subscription on May 21, 2026, and will close on May 25, 2026. The IPO constitute 26.81% of the post-IPO paid-up capital of the company. The shares will be listed on NSE SME Emerge. From the net proceeds of the IPO, it will utilize Rs. 93.50 cr. for working capital, Rs. 90.00 cr. for repayment/prepayment of certain borrowings, and the rest for general corporate purposes. 

The company raised Rs. 27.44 cr. in a pre-IPO placement of 800000 shares in May 2026, at Rs. 343 per share.

The IPO is jointly lead managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd., Purva Sharegistry (India) Pvt. Ltd., is the registrar to the issue. HEM group’s Hem Finlease Pvt. Ltd., is the market maker as well as a syndicate member.

The company has issued initial equity capital at par value. It raised further equity shares in the price range of Rs. 125 – Rs. 417 between March 2019 and May 2026. It has also issued bonus shares in the ratio of 2 for 1 in March 2016, and 9 for 1 in August 2025. The average cost of acquisition of shares by the promoters is Rs. 0.00, Rs. 0.04, and Rs. 18.34 per share.

Post-IPO, company’s current paid-up equity capital of Rs. 17.07 cr. will stand enhanced to Rs. 23.33 cr. Based on the upper band of the IPO pricing, the company is looking for a market cap of Rs. 800.16 cr. 

IPO Lead Managers & Registrar

Financial Performance

On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted total income/ net profit, of Rs. 184.81 cr. / Rs. 32.10 cr. (FY23), Rs. 206.45 cr. / Rs. 34.44 cr. (FY24), Rs. 322.58 cr. / Rs. 28.13 cr. (FY25). For 9M of FY26 ended on December 31, 2025, it earned a net profit of Rs. 38.69 cr. on a total income of Rs. 236.50 cr. Though it posted growth in its top lines for the reported periods, its bottom line posted inconsistency. For FY25, it posted lower net profit of Rs. 28.13 cr., and for 9M-FY26, though the top line is Rs, 236.50 cr. it posted bumper profit of Rs. 38.69 cr. in a pre-IPO period, that not only raise eyebrows, but also concern over its sustainability going forward. Despite higher other income for FY25, it marked lower net following extra-ordinary item of Rs. 16.97 cr. Its contingent liability stood at Rs. 61.64 cr. as of December 31, 2025, that raises alarm. Its overall borrowings of Rs. 242.57 cr. as of December 31, 2025, raise concern.

For the last two fiscals, the company has reported an average EPS of Rs. 25.00, and an average RoNW of 23.17%. The issue is priced at a P/BV of 2.44 based on its NAV of Rs. 140.81 per share as of December 31, 2025, but its post-IPO NAV data is missing from the offer documents.

If we attribute FY26 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 15.51, and based on FY25 earnings, the P/E stands at 28.44. The issue appears fully priced, based on its bumper earnings for 9M-FY26, which may not be sustained. 

For the reported periods, the company has posted PAT margins of 17.56% (FY23), 16.92% (FY24), 8.97% (FY25), 16.65% (9M-FY26), and RoCE margins of 22.14%, 19.25%, 17.66%, 13.32%, respectively, for referred periods.

All amounts in Indian Rupees crores

Period Ended Revenue Expense PAT Assets
2023 ₹184.81 ₹154.97 ₹32.10 ₹251.58
2024 ₹206.45 ₹175.85 ₹34.44 ₹339.25
2025 ₹322.58 ₹261.43 ₹28.13 ₹455.49
Dec 2025 ₹236.50 ₹186.96 ₹38.69 ₹561.34

Dividend Policy

The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects. 

Comparison with Listed Peers - for Fiscal 2025

As per the offer document, the company has no listed peers to compare with.

Name of the Company Face Value (₹) EPS basic (₹)Ā  EPS Diluted (₹) RONW (%) P/E Ratio NAV (₹)
Powerica Limited 5 15.26Ā  15.26 15.37 %Ā  24.45 99.76
Listed Peers
Cummins India Limited 2 72.15Ā  72.15 26.45% 64.13Ā  272.78
Kirloskar Oil Engines Limited 2 33.71 33.60 15.85% 43.24 212.60
NTPC Green Energy Limited 10 0.67 0.67 2.58% 129.40 21.88
Acme Solar Holdings Limited 2 4.55 4.53 5.59% 50.74Ā  74.54
Adani Green Energy Limited 10 8.37 8.37 11.90%Ā  101.53Ā  76.62
Disclaimer: Above table shows earnings and P/E ratio as of 2025-26

Merchant Banker's Track Record

The two merchant bankers associated with this issue have handled 79 issues in the past three years, out of which 8 issues closed below the issue price on listing date.

Conclusion - Apply for medium to long term

QBL is engaged in the business of developing, manufacturing and marketing of diverse range of reagents and consumables. It posted growth in its top lines for the reported periods, but suffered a setback for FY25 in bottom line following accounting adjustments. As the company has no listed peers, it is trying to extract fancy price for its IPO. Based on its overall financial data, the issue appears fully priced. Well-informed investors may park moderate funds for long term.

Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.

He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.

Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.

FAQ Accordion
Q-Line Biotech IPO FAQs
1. What is Q-Line Biotech IPO? āŒ„
Q-Line Biotech IPO is SME IPO. The company is going to raise ₹214 Crores via IPO. The issue is priced at ₹326 to ₹343 per equity share. The IPO is to be listed on NSE SME.
2. When Q-Line Biotech IPO will open for subscription? āŒ„
The IPO is to open on May 21, 2026 for QIB, NII, and Retail Investors. The IPO will close on May 25,2026.
3. What is Q-Line Biotech IPO Investors Portion? āŒ„
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
4. How to Apply the Q-Line Biotech IPO? āŒ„
You can apply for Q-Line Biotech IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
5. What is Q-Line Biotech IPO Issue Size? āŒ„
Q-Line Biotech IPO issue size is ₹214 crores.
6. What is Q-Line Biotech IPO Price Band? āŒ„
Q-Line Biotech IPO Price Band is ₹326 to ₹343.
7. What is Q-Line Biotech IPO Lot Size? āŒ„
The minimum bid is 800 Shares with ₹2,74,400 amount.
8. What is the Q-Line Biotech IPO Allotment Date? āŒ„
Q-Line Biotech IPO allotment date is May 26,2026.
9. What is the Q-Line Biotech IPO Listing Date? āŒ„
Q-Line Biotech IPO listing date is May 29, 2026. The IPO is to list on NSE SME.

Stanley Lifestyles IPO Date, Review, Price, Allotment Details

Stanley Lifestyles IPO Details: Stanley Lifestyles IPO date is fixed, the IPO is to hit the market on June 21 and will close on June 25. Stanley Lifestyles IPO to raise around ₹537.02 crores via IPO that comprises fresh issue of ₹200 crores and offer for sale up to 9,133,454 equity shares of ₹2 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.

Stanley Lifestyles IPO

Stanley Lifestyles is India’s largest super-premium and luxury furniture brand with a market share of 5.61% in terms of revenue in Fiscal 2022. They are also among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. (Source: RedSeer Report) Further, they are the fourth largest player in the home furniture segment in India in terms of revenue in Fiscal 2022. (Source: RedSeer Report) They have the distinction of being among the first few Indian companies to venture into the super-premium and luxury furniture segment and one of the few Indian companies present across various price points, i.e., super-premium, luxury, and ultra-luxury segments, through their various brands. (Source: RedSeer Report).


They design, manufacture, and retail their products through their network of pan-India stores. According to the RedSeer Report, they are among the top four Indian super-premium and luxury furniture manufacturing companies in India that are completely integrated, possessing the ability to manufacture their products and distribute them through their network of retail stores. They believe that their in-house manufacturing operations coupled with their retailing model, differentiates them from other Indian and foreign furniture brands. Their integrated model provides them with the ability to have complete control over their processes, ranging from procurement of raw materials, designing their products, manufacturing, quality control, marketing, and ultimately sale of their products.

They offer customers bespoke products by leveraging the skilled craftsmanship of their employees. Their employees possess expertise across various processes that they deploy as part of their operations which include leather marking, cutting, carpentry, sewing and stitching, metal work, and polishing. As of June 30, 2023, the total number of craftsmen associated with their new product development division was 61 (including permanent employees and craftsmen on a contractual basis). They focus on attention to detail while blending unique manufacturing techniques with contemporary design to deliver a truly distinctive product experience and offer luxurious offerings to customers. Almost all of the products under their ā€œStanley Level Nextā€ and ā€œStanley Boutiqueā€ brands include handcrafted elements.


Objects of the Issue

  • Expenditure for opening new stores under the formats of “Stanley Level Next”, “Stanley Boutique” and “Sofas & More by Stanley” (“New Stores”);
  • Expenditure for opening anchor stores (“Anchor Stores”)
  • Expenditure for the renovation of existing stores under the formats of “Stanley Level Next”, “Stanley Boutique” and “Sofas & More by Stanley” (“Existing Stores”)
  • Funding the capital expenditure requirements for purchasing new machinery and equipment by the company and Material Subsidiary, SOSL; 
  • General corporate purposes.

Stanley Lifestyles IPO Review (Apply or Not)

  • May Apply

Brokerage Firm IPO Review

  • Anand Rathi: Apply
  • Indsec Securities: Apply
  • Reliance Securities: Apply
  • Swastika Investmart: Apply

Stanley Lifestyles IPO Date & Price Band Details

IPO Open:June 21, 2024
IPO Close:June 25, 2024
IPO Size:Approx ₹537.02 Crores, 14,553,508 Equity Share
Fresh Issue:Approx ₹200 Crores, 5,420,054 Equity Share
Offer for Sale:Approx ₹337.02 Crores, 9,133,454 Equity Share
Face Value:₹2 Per Equity Share
IPO Price Band:₹351 to ₹369 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
Discount:N/A
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

Stanley Lifestyles IPO Market Lot

The Stanley Lifestyles IPO minimum market lot is 40 shares with ₹14,760 application amount. The retail investors can apply up-to 13 lots with 520 shares or ₹191,880 amount.

ApplicationLot SizeSharesAmount
Retail Minimum140₹14,760
Retail Maximum13520₹191,880
S-HNI Minimum14560₹206,640
B-HNI Minimum682720₹1003,680

Stanley Lifestyles IPO Allotment & Listing Dates

The Stanley Lifestyles IPO date is June 21 and the close date is June 25. The Stanley Lifestyles IPO allotment will be finalized on June 26 and the IPO listing on June 28.

IPO Open Date:June 21, 2024
IPO Close Date:June 25, 2024
Basis of Allotment:June 26, 2024
Refunds:June 27, 2024
Credit to Demat Account:June 27, 2024
IPO Listing Date:June 28, 2024

You can check IPO subscription status and IPO allotment status on their respective pages.

Stanley Lifestyles IPO Form

How to apply for the Stanley Lifestyles IPO? You can apply for Stanley Lifestyles IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Stanley Lifestyles IPO in the Invest section. The other option is you can apply for Stanley Lifestyles IPO via IPO forms downloaded via NSE and BSE. Check out the Stanley Lifestyles forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


Stanley Lifestyles Company Financial Report

  ₹ in Crores
YearRevenueExpensePAT
2021₹201.71₹195.49₹1.92
2022₹297.76₹265.82₹23.22
2023₹425.62₹379.22₹34.98
Dec 2023₹322.29₹297.56₹18.70

Stanley Lifestyles IPO Valuation – FY2023

Check Stanley Lifestyles IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹6.37 per Equity Share
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):15.18%
Net Asset Value (NAV):₹41.97 per Equity Share

Peer Group

  • NA

Company Promoters

  • Sunil Suresh
  • Shubha Sunil

Stanley Lifestyles IPO Registrar

Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: sll.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

Stanley Lifestyles IPO Allotment Status Check

Check Stanley Lifestyles IPO allotment status on Kfin Technologies website allotment URL. Click Here

Stanley Lifestyles IPO Lead Managers aka Merchant Bankers

  • Axis Capital Limited
  • ICICI Securities Limited
  • Jm Financial Limited
  • SBI Capital Markets Limited

Company Address

Stanley Lifestyles Limited
SY No. 16/2 and 16/3 Part,
Hosur Road, Veerasandra Village, Attibele Hobli,
Anekal Taluk, Bengaluru – 560 100
Phone: + 91 80 6895 7200
Email: investors@stanleylifestyles.com
Website: http://www.stanleylifestyles/

Stanley Lifestyles IPO FAQs

What is Stanley Lifestyles IPO?

Stanley Lifestyles IPO is a main-board IPO. They are going to raise ₹537.02 Crores via IPO. The issue is priced at ₹351 to ₹369 pr equity share. The IPO is to be listed on BSE & NSE.

When Stanley Lifestyles IPO will open?

The IPO is to open on June 21, 2024 for QIB, NII, and Retail Investors.

What is Stanley Lifestyles IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Stanley Lifestyles IPO?

You can apply for Stanley Lifestyles IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

How to Apply the Stanley Lifestyles IPO through Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Stanley Lifestyles”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Stanley Lifestyles IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Stanley Lifestyles”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

How to Apply the Stanley Lifestyles IPO through Paytm Money?

Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Stanley Lifestyles”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

What is Stanley Lifestyles IPO Size?

Stanley Lifestyles IPO size is ₹537.02 crores.

What is Stanley Lifestyles IPO Price Band?

Stanley Lifestyles IPO Price Band is ā‚¹351 to ₹369.

What is Stanley Lifestyles IPO Minimum and Maximum Lot Size?

The minimum bid is 40 Shares with ₹14,760 amount while the maximum bid is 520 shares with ₹191,880.

What is the Stanley Lifestyles IPO Allotment Date?

Stanley Lifestyles IPO allotment date is June 26, 2024.

What is the Stanley Lifestyles IPO Listing Date?

Stanley Lifestyles IPO listing date is June 28, 2024. The IPO is to list on BSE and NSE.

Note: The Stanley Lifestyles IPO price band and date are officially announced yet. The IPO grey market premium (Stanley Lifestyles IPO Premium) will be added to the IPO grey market page as it will start).

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Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.
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Jagat Joshi