As the Molbio Diagnostics IPO concluded with a strong subscription of 70 times on Wednesday, and share allotment was finalised on Thursday, investors who bid on the issue await the listing of the stock on the NSE and the BSE, scheduled for Monday, 17 August.
Investors who placed bids in the IPO can check the share allotment on the issue registrar's website, the BSE, and the NSE. KFin Technologies was the registrar of the issue.
Meanwhile, grey market sources suggest the stock could debut at a healthy premium over the issue price, even as stock market sentiment remains cautious amid oil price volatility driven by lingering uncertainty over the reopening of the Strait of Hormuz.
Molbio Diagnostics IPO GMP
The latest grey market premium (GMP) of Molbio Diagnostics shares on Friday morning was ₹156. This suggests the stock could list at ₹963, a premium of 19.3% over its issue price of ₹807.
Molbio Diagnostics IPO details
Molbio Diagnostics IPO opened for public subscription on Monday, 10 August, and concluded on Wednesday, 12 August, with an overall subscription of 70 times, with the retail portion booked 13 times, and the segment reserved for NIIs subscribed to 50 times.
With a price band of ₹768 to ₹807 per share, the issue aimed to raise ₹200 crore through the fresh issue of shares. The issue also included an offer for sale (OFS) of 91.66 lakh shares, aggregating to ₹739.70 crore.
Molbio Diagnostics intends to use the net proceeds from the fresh issue of shares to set up a research and development facility and centre of excellence, which will be operated by its wholly-owned subsidiary, Bigtec, and to fund capital expenditure for connected office space for the company, its subsidiaries, and associates.
Some parts of the net issue will also be used for the purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit, as well as for general corporate purposes.
Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India, and Motilal Oswal Investment Advisors were the book-running lead managers of the issue.
Molbio Diagnostics is an innovative point-of-care (POC) diagnostics company focused on expanding access to accurate, rapid and cost-effective healthcare technologies to diagnose infectious and non-communicable diseases.
Revenue from operations in FY24, FY25, and FY26 were ₹836.56 crore, ₹1,020.42 crore, and ₹1,445.69 crore, respectively.
Net profit attributable to the owners of the parent stood at ₹83.54 crore in FY24, which increased to ₹138.58 crore in FY25, and to ₹164.14 crore in FY26.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Key Takeaways
- Molbio Diagnostics IPO was heavily oversubscribed, indicating strong market interest.
- The grey market premium suggests a robust opening price, signaling investor confidence.
- Net proceeds from the IPO will fund significant R&D investments and expansion efforts.
