Molbio Diagnostics, a Goa‑based company that offers point‑of‑care molecular diagnostics, opened its public issue on 10 August. The ₹940‑crore IPO was priced in a band of ₹768 to ₹807 per share and remained open until 12 August. By 5:00 pm the first day, the issue had been subscribed to 83 percent of the available shares.
The company received bids for 67,67,496 lakh shares against 81,58,529 lakh shares offered. Qualified institutional buyers (QIBs) fully subscribed, taking 100 percent of the QIB allocation. Retail investors subscribed 77 percent and non‑institutional investors 73 percent.
In the grey market, the shares traded at a premium of ₹132 above the top of the price band, indicating a potential 16 percent listing gain. The GMP is an unofficial indicator and can change before the listing, so investors should treat it with caution.
Prior to the IPO, Molbio raised ₹281.5 crore from anchor investors. The company allotted 34.87 lakh shares to 33 anchor investors, including global names such as Goldman Sachs (₹30 crore) and IFC and BlackRock (₹20 crore each). Domestic mutual funds received 23.54 lakh shares across 19 schemes, covering major funds like HDFC, Kotak, ICICI Prudential, and others. Life insurance companies were allotted 2.65 lakh shares worth ₹21.44 crore.
The ₹940‑crore offering consists of a fresh issue of ₹200 crore and an offer‑for‑sale (OFS) of 91.66 lakh shares valued at about ₹739.7 crore. The fresh issue will fund research and development, a Centre of Excellence, office space, plant and machinery, and general corporate needs.
Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India and Motilal Oswal Investment Advisors were the book‑running lead managers. Molbio is backed by Temasek and Motilal Oswal Group entities.
Molbio’s patented Truenat platform can detect 30 diseases, including tuberculosis, COVID‑19, hepatitis B and C, HIV and HPV. The system is designed for decentralised, resource‑constrained settings and has been deployed across India and abroad.