I have given below both the methods - VBA and VB.net (take your pick) :)
USING VB.NET
Place a DataGridView on your VB.net Form and also place a Button. Place this code in the Button
Public Class Form1
Private Sub Button1_Click(sender As System.Object, e As System.EventArgs) Handles Button1.Click
Dim masterTable As New DataTable
Dim cnnStr As String = "Provider=Microsoft.ACE.OLEDB.12.0;Extended Properties=""Excel 12.0 Xml;HDR=NO"";Data Source=""{0}"";"
Using da As New OleDb.OleDbDataAdapter("select * from [Sheet1$] Where F1 = 'Test1'", String.Format(cnnStr, "C:\Book1.xlsx"))
da.Fill (masterTable)
End Using
DataGridView1.DataSource = masterTable
End Sub
End Class
And you are done :)
SNAPSHOT
I am using limited Data.

You can also change your string "select * from [Sheet1$] Where F1 = 'Test1'" to "select F1 as Name,F2 as PN, F3 as [Inventory Loc] from [Sheet1$] Where F1 = 'Test1'" to display the headers as below

EDIT
In case you are wondering how to do it in VBA
USING VBA
Place a Listbox and a Command Button on a Form and then use this code.
Option Explicit
Private Sub CommandButton1_Click()
Dim ws As Worksheet, ws1 As Worksheet
Dim rng As Range
Dim lastRow As Long
Dim Ar As Variant
Set ws = Sheets("Sheet1")
lastRow = ws.Cells.Find(What:="*", After:=ws.Range("A1"), _
Lookat:=xlPart, LookIn:=xlFormulas, _
SearchOrder:=xlByRows, SearchDirection:=xlPrevious, _
MatchCase:=False).Row
Set rng = ws.Range("A1:C" & lastRow)
Set ws1 = Sheets.Add
With rng
ws.AutoFilterMode = False
.AutoFilter Field:=1, Criteria1:="Test1"
.SpecialCells(xlCellTypeVisible).Copy ws1.Range("A1")
ws.AutoFilterMode = False
lastRow = ws1.Cells.Find(What:="*", After:=ws1.Range("A1"), _
Lookat:=xlPart, LookIn:=xlFormulas, SearchOrder:=xlByRows, _
SearchDirection:=xlPrevious, MatchCase:=False).Row
Ar = ws1.Range("A1:C" & lastRow)
Application.DisplayAlerts = False
ws1.Delete
Application.DisplayAlerts = True
End With
With Me.ListBox1
.Clear
.ColumnHeads = False
.ColumnCount = 3
.List = Ar
.ColumnWidths = "50;50;50"
.TopIndex = 0
End With
End Sub
SNAPSHOT

MORE FOLLOWUP
Hi Siddharth, thank you very much for both code. For VB. Net it is wonderful. For the VBA in Exel, is there any way that I can copy (using Ctrl + C) to copy the data - single row will be fine, although copy multiple rows is more desirable. I am able to replace "Test1" with textbox i49.tinypic.com/2ceq3yf.jpg – user1370854 5 hours ago
Yes it is possible to copy the single selected or multiple selected items from the listbox to cliboard. To make the listobx multiselect, in the design mode, set the property of the listbox to fmMultiSelectMulti1. Next Add a command button and paste this code.
This code is again based on the data I use above so amend it as applicable. When you press the Copy button, the data is copied to the clipboard and then you can simply use CTL V to paste the data where ever you want; for example in Notepad.
Private Sub CommandButton2_Click()
Dim MyData As DataObject
Dim i As Long
Dim strCopiedText As String
Set MyData = New DataObject
With Me.ListBox1
For i = 1 To .ListCount
If .Selected(i - 1) Then
strCopiedText = strCopiedText & _
.List(i - 1, 0) & vbTab & _
.List(i - 1, 1) & vbTab & _
.List(i - 1, 2) & vbCrLf
End If
Next i
If Len(strCopiedText) > 0 Then
MyData.Clear
MyData.SetText strCopiedText
MyData.PutInClipboard
MsgBox "Data copied to clipboard"
End If
End With
End Sub
