Bio Medica Laboratories Raises ₹5.13 Crore via NSE SME IPO on Day 1: Key Highlights

Bio Medica Laboratories IPO Off to a Slow Start on Debut Day

The initial public offering (IPO) of Bio Medica Laboratories opened for public subscription on Thursday, 21 May, marking the beginning of a book build issue that combines a fresh issue of 33,95,000 shares and an offer for sale (OFS) of 3,77,000 shares.

Despite the IPO's commencement, the grey market premium (GMP) of Bio Medica Laboratories indicates low optimism among investors for the IPO. According to grey market sources, the GMP of Bio Medica Laboratories was nil on Thursday morning, suggesting that the stock could list at par with its issue price.

Subscription Status on Debut Day

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By 1:20 pm on Thursday, the SME IPO had seen an overall subscription of nearly 0.40 times, with the retail portion booked 0.56 times, and the segment reserved for Non-Institutional Investors (NIIs) subscribed to 0.01 times. The Qualified Institutional Buyers (QIBs) portion was booked nearly 12 times till that time.

Key IPO Details

Bio Medica Laboratories aims to raise approximately ₹47 crore from the fresh issue of shares, which it will use for the repayment of loans, increasing production capacity, and for general corporate purposes. The SME IPO will close on Monday, May 25, after opening for subscription on Thursday, May 21. The price band of the public issue has been fixed at ₹132 to ₹139 per equity share.

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Issue Details and Timeline

The total size of the NSE SME IPO is 37,72,000 shares, out of which 33,95,000 shares constitute the fresh issue size and the remaining 3,77,000 shares are on offer for sale. Retail investors can bid for a minimum and maximum of 2,000 shares. The allotment date is expected to be Tuesday, May 26, with successful bidders receiving shares in their demat accounts on Wednesday, May 27. Bidders who fail to get the allocation may get a refund on the same day.

The IPO is proposed for listing on the NSE SME on Friday, May 29. The book-running lead manager is Narnolia Financial Services, and the registrar is Skyline Financial Services.

Business Overview

Bio Medica Laboratories manufactures pharmaceutical parenteral formulations, operating on a B2B business model through contract manufacturing. The company's revenue from operations was ₹16.23 crore in FY23, which rose to ₹15.25 crore in FY24 and to ₹38.20 crore in FY25. Profit for FY23 was ₹0.33 crore, which increased to ₹2.5 crore in FY24, and to ₹9.8 crore in FY25.