Bio Medica Laboratories IPO listing: The shares of Bio Medica Laboratories witnessed a tepid listing action on Dalal Street on Friday, 29 May, as they debuted at a 20% discount to the (IPO) price of ₹139 apiece.
Bio Medica Laboratories share price opened at ₹111.20, down ₹27.8% or 20% against the offer price on the . Soon after listing, Bio Medica Laboratories shares extended their decline and hit the 5% lower price band of ₹105.65 per share.
The listing was below expectations as signalled by the (GMP). Bio Medica Laboratories IPO GMP before debut was (-) ₹9, suggesting a discount of 6.47%. At one point, the GMP had hit a high of ₹3.5 per share.
Bio Medica Laboratories IPO details
Bio Medica Laboratories IPO, open for bidding from May 21 to May 25, had seen a subdued investor demand. The SME IPO was booked just 2.23 times with the qualified institutional buyers (QIBs) doing the heavy lifting. Their segment was booked the most at 15.94 times. It was followed by the quota at 2.88 times, while the non-institutional investor (NII) portion received just 1.30 times bids.
Bio Medica Laboratories IPO was a combination of fresh share sale of ₹47.19 crore and an offer for sale of ₹5.24 crore, resulting in a total offer size of ₹52.43 crore. The SME IPO’s shares were priced at ₹132 to ₹139 apiece.
Investors could apply for the offer in lots of 1000 shares, with the retail investors required to bid for at least two lots, resulting in a minimum payout of ₹2,78,000 at the upper end of the issue.
Bio Medica Laboratories plans to use the fresh proceeds from the share sale for repayment of loans, enhancement of existing capabilities by setting up a new manufacturing unit at existing premises, general corporate purposes and issue expenses.
About Bio Medica Laboratories
Bio Medica Laboratories, incorporated in 2015, specialises in manufacturing pharmaceutical parenteral formulations. It produces a wide range of ethical drugs, generic drugs, and over-the-counter (OTC) medications in liquid and dry-powder injectable forms. These injectables are available in both single-dose and multi-dose formats, serving the needs of both human and veterinary healthcare.
The company operates on a B2B model, focusing exclusively on contract manufacturing.
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