Mr. Mahesh Makhija, Founder Promoter and Managing Director, QMS Medical Allied Services Ltd
Company to issue 47 lakh Equity shares of Rs. 10 face value at a price of Rs. 121 per share; Propose to get list SME EMERGE Platform of NSE
| Highlights:- · Public issue opens for subscription from September 27 and closes on September 30 · Minimum lot size for application is 1,000 shares; Minimum IPO application amount Rs. 1.21 lakh · Funds raised through the issue will be used to fund company’s expansion plans, funding working capital requirements, general corporate expenses etc · For the FY21-22 company reported revenues of Rs.147.7 crore and Net Profit of Rs. 10.7 crore · First Overseas Capital Ltd is the lead manager of the issue. |
Mumbai, September 27, 2022: Medical devices company, QMS Medical Allied Services Ltd is scheduled to open its Rs. 56.87 crore public issue for subscription on September 27. Proceeds of the public issue will be utilised to fund company’s expansion plans including meeting additional working capital requirements and general corporate purposes. The company has received approval to launch its public issue on SME Emerge Platform of National Stock Exchange. First Overseas Capital Ltd is the lead manager of the issue. Public issue will close on September 30.
The initial public offering will comprise a fresh Issue of 28 lakh equity shares and Offer for sale of 19 lakh equity shares of face value Rs. 10 each at a price of Rs. 121 per share (including a premium of Rs. 111 per equity share) aggregating Rs. 56.87 crore. Post issue promoter group holding in the company will be 73.67%. Minimum lot size for the application is 1,000 shares which translates in to Rs. 1.21 lakh per application. Retail allocation for the IPO is 50%. Market maker reservation portion is 2.36 lakh equity shares.
Mr. Mahesh Makhija, Founder Promoter and Managing Director, QMS Medical Allied Services Ltd said, “As we move towards our goal of being a comprehensive solution provider and to enable enhanced methods of diagnose to our customers we will support these practices and services by having an alliance with all the esteem healthcare manufacture’s globally so that our customer could make better healthcare decisions. We will engage in revolutionizing the healthcare service to the doctors and the medical fraternity for a flourishing and healthy life to all.”
“Government is taking supportive measures such as promoting indigenous manufacturing of high-tech medical devices, production linked incentive schemes (PLIs) on medical devices, boosting new medical devices park, etc. to boost overall growth of the domestic medical devices market in India. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”
The Indian market for medical equipment is predicted to increase to US$ 50 billion by 2025. India has an overall 75-80% import dependency on medical devices. Gujarat, Maharashtra, Karnataka, Haryana, Andhra Pradesh, Telangana and Tamil Nadu are the manufacturing hubs for medical devices in India. India is the 4th largest Asian medical devices market after Japan, China, and South Korea, and among the top 20 medical devices markets globally.
Incorporated in 2017, QMS Medical Allied Services Limited is engaged in the marketing and distribution of a wide range of medical products as well as medical education services. The company’s products are sold under brand name “QDevices” and they also manage the distribution for other brands such as 3M, Heine, Rossmax etc. The company offers medical products such as Blood Pressure Monitors, Glucose Monitoring Kits and strips, Dental Products, Personal protection kits eg-PPE kits, Infection prevention, Stethoscope and Oxygen Concentrator. The company operates three business verticals and offers 600+ SKUs with 130+ customers.
For the FY21-22 company reported total revenue of Rs. 147.74 crore, EBITDA of Rs. 17.74 crore and Net Profit of Rs. 10.74 crore. Company has a strong financials and healthy return ratios with Return on Equity of 34.51%, Return on Capital Employed of 26.32% for the financial year ended 2022. Debt to Equity position remains strong at 1.03 times and Book Value considering bonus was Rs. 27.49 per share in FY22.
The company also aims to impact the lives of people through continuous skill development and hence provides various medical courses like PG Diploma in Cardiology, Masterclass in Diabetes & renel management, cardiology and cardiac rehabilitation etc. for continuous skill development.
The company markets and help in the distribution of the products across India through offline and online mode using the website i.e. https://qmsmas.com. The company’s eCommerce platform is called Qmeds- https://qmsmeds.com, which provides online service to medical equipment dealers, distributors, surgeons and clinicians for sourcing medical supplies from the surgical supply store.
| IPO Highlights – QMS Medical Allied Services Ltd | |
| IPO Opens on | September 27, 2022 |
| IPO Closes on | September 30, 2022 |
| Issue Price | Rs. 121 Per Share |
| Issue Size (No of Shares) | 47,00,000 Shares |
| Issue Size (Rs. Cr) | Rs. 56.87 crore |
| Fresh Issue (No of Shares) | 28,00,000 Shares |
| Offer for Sale (No of Shares) | 19,00,000 Shares |
| Lot Size | 1,000 Shares |
| Retail Quota | 22,32,000 equity shares – 50% |
| Non-Retail Quota | 22,32,000 equity shares – 50% |
| Listing on | SME Emerge Platform of NSE Ltd |
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