Molbio Diagnostics IPO listing: Molbio Diagnostics shares debuted on a strong note on Monday, 17 August, defying weak stock market sentiment. Molbio Diagnostics share price was listed at ₹980 on the BSE and the NSE, up 21.44% from the issue price of ₹807.
However, soon after the listing, the stock saw profit-booking and dropped to ₹925.80 on the BSE and ₹926.35 on the NSE.
The stock's listing exceeded expectations, as, according to grey market sources, the last grey market premium (GMP) on Molbio Diagnostics shares on Monday morning was ₹120, suggesting the stock could list at a 15% premium at ₹927.
Molbio Diagnostics IPO details
Molbio Diagnostics IPO was a combination of fresh issue of 24,80,246 shares aggregating to ₹200 crore and an offer for sale (OFS) of 91,66,000 shares for ₹739.70 crore.
The company intends to utilise the net proceeds from the fresh issue to fund the establishment of infrastructure for a research and development facility and centre of excellence, which will be operated by its wholly-owned subsidiary, Bigtec, and connected office space for it, as well as its subsidiaries and associates.
Moreover, it 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.
The issue opened for public subscription on Monday, 10 August, and concluded on Wednesday, 12 August, with an overall subscription of over 70 times, with the retail segment booked 13 times.
Share allotment was finalised on Thursday, 13 August, with successful bidders receiving the shares credited to their demat accounts on Friday, 14 August.
Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India, and Motilal Oswal Investment Advisors Limited were the book-running lead managers, while KFin Technologies Limited was the registrar of the Molbio Diagnostics IPO.
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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