Q-Line Biotech are expected to make strong stock market debut on Friday, with grey market trends indicating robust investor demand ahead of listing. According to market trackers, the company’s shares were commanding a grey market premium (GMP) of around 36% ahead of listing on the NSE SME platform.
Based on the final issue price of Rs 343 per share, the GMP implies a likely listing price of around Rs 466 in the unofficial market. The Rs 214 crore IPO had opened for subscription between May 21 and May 25, while the allotment was finalised on May 26.
The issue was entirely a fresh issue of 62.53 lakh shares. The company had fixed the price band at Rs 326-343 per share and finalised the issue price at the upper end of the band at Rs 343 apiece.
The IPO also raised around Rs 61 crore from anchor investors ahead of opening for public subscription.
Incorporated in 2010, Q-Line Biotech operates in the diagnostics and healthcare products segment. The company is engaged in developing, manufacturing and marketing diagnostic reagents, kits, point-of-care devices and consumables used across healthcare and pathology services.
It also manufactures, imports and distributes diagnostic equipment catering to hospitals, medical colleges and diagnostic laboratories. Its product portfolio spans clinical chemistry, haematology, immunodiagnostics, molecular diagnostics and rapid testing solutions.
The company supplies both diagnostic consumables and pathology equipment through direct distribution and dealer networks across India. As of December 2025, the company had annual manufacturing capacity of around 1.4 million diagnostic kits and 1,200 Selectra machines.
The company said it focuses heavily on indigenous manufacturing, reverse engineering, product development and quality control within the in-vitro diagnostics segment.
The positive grey market sentiment comes amid continued investor appetite for healthcare and diagnostics-related businesses despite broader market volatility in SME stocks. Several SME IPOs have seen mixed listing performance in recent months as investors turned increasingly selective on valuations and liquidity.
However, strong GMP trends in Q-Line Biotech indicate healthy demand ahead of listing. Grey market premiums are unofficial indicators of investor sentiment and do not guarantee actual listing performance.
Hem Securities was the book-running lead manager to the issue, while Purva Sharegistry acted as the registrar. Hem Finlease was the market maker for the issue.
