Company Rs. 47 lakh equity shares having a face value of 10 per share at Rs. 121, plans to list on NSE’s SME Emerge platform
Mumbai, September 26, 2022: Medical device company QMS Medical Allied Services Limited on September 27 announced its Rs. 56.87 crore public issue will open for subscription. Use of proceeds of public issue to meet additional working capital requirements and general corporate purposes
including to fund the company’s expansion plans. The company has received approval to launch its public issue on the National Stock Exchange’s SME Emerge platform. First Overseas Capital Limited is the lead manager of the issue. The public issue will close on September 30.
In the IPO per share Rs. 121 (including premium of Rs. 111 per equity share) at Rs. 10 per share comprising an offer for sale of 19 lakh equity shares and fresh issue of 28 lakh equity shares valued at Rs. 56.87 crores.
After the issue, the promoter group holding in the company will be 73.67%. The minimum lot size for application is 1,000 shares worth Rs. 1.21 lakhs. The retail allocation for the IPO is 50%. The share of market maker reservation is 2.36 lakh equity shares.
Mr. Mahesh Makhija, Founder Promoter and Managing Director, QMS Medical Allied Services Limited said, “We are moving towards our goal of becoming a comprehensive solution provider and providing advanced diagnostic methods to our customers.
We will partner with leading healthcare manufacturers worldwide to support these practices and services so our customers can make better healthcare decisions. We will continue to strive to revolutionize healthcare services for doctors and the medical community for a prosperous and healthy life for all.”
“Government is taking supportive measures like encouraging indigenous manufacturing of hi-tech medical devices, production linked incentive schemes (PLI) of medical devices, new medical devices parks etc. to boost the overall growth of the domestic medical devices market in India. We hope that after the proposed public issue we will be able to execute our growth strategy in a manner that maximizes value creation for all stakeholders with continued delivery of quality products.”