Q-Line Biotech Limited is engaged in the business of developing, manufacturing, and marketing a diverse range of in-vitro diagnostic (IVD) products, including reagents, kits, POC devices, and consumables. The company is also involved in manufacturing, importing, distributing, and supplying diagnostic equipment used for various healthcare and pathology testing needs.
The company has been supplying diagnostic equipment and IVD products since 2013, either directly or through distributors. Its major customers include diagnostic service providers, hospitals, and medical colleges.
Over the years, Q-Line Biotech has built its brand through experience in the diagnostics industry, research and development capabilities, manufacturing expertise, and quality assurance.
Its key business segments include Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics, POC Devices, and Rapid Tests. The company focuses on indigenous manufacturing of reagents across these segments, along with supplying and manufacturing IVD and pathology equipment and devices.
During the COVID-19 period, the company also developed COVID-19 testing products such as RT-PCR kits, RNA extraction kits, and VTM kits through technical collaborations and its in-house R&D team.
Q-Line Biotech’s diagnostic equipment business includes both manufacturing and trading of devices used in clinical diagnostics and healthcare settings. Its product portfolio includes analysers, point-of-care devices, and other components required for diagnostic procedures. The company currently manufactures instrument analysers used in clinical chemistry.
As of December 31, 2025, the company had an aggregate annual installed capacity of approximately 1.4 million kits for haematology reagents, clinical chemistry reagents, and rapid/ELISA kits, along with 1,200 Selectra Machines.
As of March 31, 2026, its manufacturing team included 126 employees and 223 third-party workers, working with R&D, supply chain, and external partners to support production and quality standards.
Q-Line Biotech IPO – Details
| IPO Opening Date | 21 May 2026 |
| IPO Closing Date | 25 May 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 62,53,200 Shares Worth ₹214.48 Crore Fresh Issue: 62,53,200 Shares Worth ₹214.48 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹326 – ₹343 per share |
| Market Lot | 400 Shares |
| Min Order | 400 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Purva Sharegistry (India) Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Q-Line Biotech IPO – Date Schedule
| IPO Open Date | 21 May 2026 |
| IPO Close Date | 25 May 2026 |
| Basis of Allotment | 26 May 2026 |
| Initiation of Refund | 27 May 2026 |
| Credit of Shares to Demat | 27 May 2026 |
| IPO Listing Date | 29 May 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 25, 2026 |
Q-Line Biotech IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 800 | ₹2,74,400 |
| Retail (Max) | 2 | 800 | ₹2,74,400 |
| S-HNI (Min) | 3 | 1200 | ₹4,11,600 |
| S-HNI (Max) | 7 | 2800 | ₹9,60,400 |
| B-HNI (Min) | 8 | 3200 | ₹10,97,600 |
Competitive Strength
- Established manufacturing capabilities with a 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.
- Experienced Promoter and Management team.
Company Promoters
- Saurabh Garg
- Amita Garg
- Ayush Garg
- Ajay Kumar Mahanty
- Abhay Agrawal
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹184.81 Cr | ₹154.97 Cr | ₹32.10 Cr | ₹73.65 Cr |
| 31 March 2024 | ₹206.45 Cr | ₹175.85 Cr | ₹34.44 Cr | ₹96.91 Cr |
| 31 March 2025 | ₹322.58 Cr | ₹261.43 Cr | ₹28.13 Cr | ₹164.95 Cr |
| 31 December 2025 | ₹236.50 Cr | ₹186.96 Cr | ₹38.69 Cr | ₹243.85 Cr |
Key Performance Indicator
| KPI | Values (Dec 31, 2025) |
|---|---|
| ROE | 16.88% |
| ROCE | 13.32% |
| Debt/Equity | 1.06 |
| RoNW | 16.88% |
| PAT Margin | 16.65% |
| EBITDA Margin | 27.64% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | – | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| To meet working capital requirements. | ₹93.50 |
| Repayment of certain borrowing availed by the Company, in part or in full. | ₹90.00 |
| General corporate purposes. | – |
✅Strengths
- Strong manufacturing setup with focus on R&D and quality control.
- Dedicated R&D team of 19 scientists and engineers.
- Annual installed capacity of around 1.4 million kits and 1,200 Selectra Machines.
- Diversified IVD product portfolio across reagents, POC devices, kits, instruments, consumables and services.
- Presence across 26 states and Union Territories.
- Wide distribution network with 283 distributors as of December 31, 2025.
- Strong sales and service team with 103 sales personnel and 35 service engineers.
- Long-standing customer relationships with repeat orders.
- Revenue from operations grew from ₹18,273.63 lakhs in FY23 to ₹31,378.04 lakhs in FY25.
- Experienced promoters and a management team with long industry experience.
⚠️Risks
- Any shutdown or disruption at manufacturing/R&D facilities may affect operations.
- Dependence on third-party suppliers for raw materials and machinery.
- High dependence on distributors; top two distributors contributed a major portion of sales.
- One group entity, POCT Services, contributes more than 60% of sales.
- Business is concentrated in North India, especially Uttar Pradesh.
- Requires high working capital for growth and daily operations.
- Exposed to foreign exchange risk due to imports and royalty payments.
- Negative operating cash flows reported in recent periods.
- High borrowing exposure; interest rate increase can impact profitability.
- Customer concentration risk; top 3 customers contributed 75.37% of revenue as of December 31, 2025.
- Pending/renewal of regulatory approvals and licenses may affect operations.
- Promoters/erstwhile associate company faced Income Tax search and seizure proceedings; any adverse outcome can impact the financial condition.
Q-Line Biotech IPO Promoter Holding
| Pre-Issue Share Holding | 96.77% |
| Post Issue Share Holding | – |
Q-Line Biotech IPO Prospectus
Company Contact Information
| Q-Line Biotech Limited 298-281, Transport Nagar, Kanpur Road Adjacent Transport Nagar Metro Station Lucknow, Uttar Pradesh, 226012 Phone: +91 522-2435570 Email: compliance@qlinebiotech.com Website: https://qlinebiotech.com/ |
Q-Line Biotech IPO Registrar
| Purva Sharegistry (India) Pvt. Ltd. Phone: +91-022-23018261/ 23016761 Email: support@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
Q-Line Biotech IPO Lead Manager(s)
| 1. Hem Securities Limited 2. Share India Capital Services Private Limited |
Q-Line Biotech IPO FAQ
| What is the Q-Line Biotech IPO? Q-Line Biotech IPO is an SME IPO. The issue is priced at ₹326 – ₹343 per equity share. The IPO is to be listed on NSE SME. |
| When will Q-Line Biotech IPO open? The IPO is to open on 21 May 2026 for QIB, NII, and Retail Investors. |
| What is Q-Line Biotech IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Q-Line Biotech IPO Size? Q-Line Biotech IPO size is ₹214.48 Crore. |
| What are the Q-Line Biotech IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 800 Shares for ₹2,74,400, while the maximum bid is 800 Shares for ₹2,74,400. |
| What is the Q-Line Biotech IPO Allotment Date? Q-Line Biotech IPO allotment date is 26 May 2026. |
| What is the Q-Line Biotech IPO Listing Date? Q-Line Biotech IPO listing date is 29 May 2026. The IPO is to be listed on the NSE SME. |
