Liquidity Events
Med-tech co. Molbio Diagnostics’ Rs.940-Cr IPO subscribed over 4x
Goa-based Molbio Diagnostics ’ INR 939.70 crore initial public offering (IPO) has been subscribed over 4.91 times. The offering consists of a fresh issue of shares valued at INR 200 crore and an offer for sale (OFS) of INR 739.70 crore. The IPO is priced in the range of INR 768-807 per share.Participating shareholders in the OFS include Exxora Trading LLP, India Business Excellence Fund III, and Chandrasekhar Bhaskaran Nair.Founded in 2000 by Sriram Natarajan and Chandrasekhar Nair, Molbio is a global molecular diagnostics firm that manufactures rapid diagnostic solutions for infectious and non-communicable diseases. It is recognised for its proprietary Truenat platform, a portable, battery-operated PCR-based molecular diagnostic system.The company intends to use the net proceeds from the fresh issue to expand its diagnostic infrastructure and strengthen its research and manufacturing capabilities. Specifically, INR 125.12 crore is allocated for a research and development facility and related infrastructure, while INR 80.81 crore will be spent on plant, machinery, and equipment for facilities in Goa and Visakhapatnam.
Between Jan 2020 and Sep 2022, Molbio Diagnostics had attracted about USD 123-M from Motilal Oswal Alternates and Temasek.For FY25, Molbio Diagnostics had reported about INR 971 Cr in Operating Income and about INR 140 Cr in PAT.
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