Bio Medica Laboratories IPO
Bio Medica Laboratories Limitedbiomedica.co.in
- Price band
- ₹132 – ₹139
- Issue size
- ₹52.43 Cr
- Lot size
- 1000 sh
- Bidding
- 21 – 25 May
- Grey market
- —
Face value ₹10.00
90% fresh capital
Lists 29 May 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Bio Medica Laboratories, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2015 · Indore, Madhya Pradesh · 56 employees
Bio Medica Laboratories manufactures injectable drug formulations at Sanwer Road, Indore. Its output is generic liquid injections and dry-powder injections, in single-dose and multi-dose presentations, for both human and veterinary use. It does not sell to patients or carry its own brands: it makes formulations to other pharmaceutical companies' specifications and packs them under their names as "marketed by" or "technical collaborator" alongside its own as manufacturer. It also trades base chemicals, tablets and packing material. The company holds GMP and GLP certificates from the Madhya Pradesh Food & Drugs Administration and runs an in-house laboratory for stability and process testing. It formulates only off-patent, publicly available formulas, so it maintains no R&D department. It employed 56 people on payroll at 30 April 2026 and holds 51% of Vitamax Healthcare Private Limited.
Revenue is contract-manufacturing fees for injectables, plus a small trading line. Materials dominate cost: cost of material consumed was ₹1,914.63 lakh against ₹3,819.52 lakh of operating revenue in FY25, with employee benefit expense only ₹195.73 lakh. Two structural constraints. Demand is concentrated — the largest customer was 31.56% of FY25 revenue, the top five 62.13%. And capacity is encumbered: Manufacturing Unit-1 has been barred from production since a Madhya Pradesh FDA suspension order of 23 August 2023, leaving Unit-2 to carry demand, and ampoule capacity, cut from 7.00 crore units a year in FY23 to 5.70 crore, ran at 60.21% in FY25. Of fresh proceeds, ₹2,850 lakh funds a new facility and ₹650 lakh repays debt.
The company on paper
- Legal name
- Bio Medica Laboratories Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 14 Aug 2015
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U24230MP2015PLC034576
- Sector
- Health Care · Contract manufacturing of generic injectable formulations for human and veterinary use
- Employees
- 56
- Registered office
- Indore, Madhya Pradesh
- Promoters
- Mukesh Mehta, Pradeep Mehta
- Promoter holding, pre-issue
- 96.8%
- Promoter holding, post-issue
- 67.7%
- Website
- biomedica.co.in
The numbers
Financial performance
Revenue has compounded at 53.4% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as published in the accounts this record was built from. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
90% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹47.19 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹5.24 Cr
- Total issue size
- ₹52.43 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,89,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 29.2% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹139.00
- Listed at
- ₹111.20
- Listing gain
- down 20.0%
- Since listing
- up 34.8%
- Against the issue price
- up 7.9%
Trading at ₹149.95 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 2,000
- At cut-off price
- ₹139.00
- Amount blocked
- ₹2,78,000
One lot is 1000 shares at ₹1,39,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,78,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~34%
chance of one lot, per application
- Retail subscription
- 2.92×
- Applicants per share available
- 2.9× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹111.20
listed at, −20.0% against the issue price
- Issue price
- ₹139.00
- Premium said
- —
- If allotted 1000 shares
- −₹27,800
Listing-day figures are as reported by the exchanges.
Our read
Easy to misread
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
Easy to miss in the prospectus
- The last financial column is an 8-month stub to 30 November 2025, not a full year: its ₹28.55 Cr of revenue is not comparable with FY25's ₹38.20 Cr.
- That stub is also the only CONSOLIDATED column — FY23 to FY25 are standalone. The break follows the acquisition of a 51% stake in Vitamax Healthcare Private Limited, so the series changes entity, not just period length.
- Total borrowings go 9.61 → 10.49 → 15.01 → 38.17. The last step is not a continuation of the trend: it happened inside the 8-month stub, funding capex (₹16.09 Cr of investing outflow against ₹21.98 Cr raised in financing), and it is secured ₹26.70 Cr plus unsecured ₹11.47 Cr.
Straight from the filing
Read it yourself
The prospectus for this issue exists, but the only copy held here is a third party’s mirror of it. We link filings from the issuer, the exchanges or the regulator, never somebody else’s copy.
The paperwork
Who is running the issue
- Lead managers
- Narnolia Financial Services Limited
- RegistrarAllotment status is checked on the registrar's own site
- Skyline Financial Services Private Limited
How these figures were checked
Built from 8 independently published accounts of this issue, agreeing with each other. No copy of the filing itself is linked here, so nothing on this page has been reconciled against the primary document — treat every figure as reported rather than verified.
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
Q-Line Biotech
In-vitro diagnostic reagents and pathology instruments
Listed 29 May 2026 · SME
- Price band
- ₹326 – ₹343
- Listing gain
- up 31.8%
- Score
- 71/100
Goldline Pharmaceutical
Branded generic pharmaceutical marketing, with production outsourced to third-party manufacturers
Listed 19 May 2026 · SME
- Price band
- ₹41 – ₹43
- Listing gain
- up 39.0%
- Score
- 71/100
Avience Biomedicals
In-vitro diagnostic rapid test kits, biochemistry analysers and reagents, plus medical-equipment trading
Listed 25 Jun 2026 · SME
- Price band
- ₹196 – ₹208
- Listing gain
- up 90.0%
- Score
- 86/100