Molbio Diagnostics
- Issue price
- ₹ 807
- Issue size
- ₹ 939.7 Cr.
- Min. investment
- ₹ 14,526
- Listing price
- ₹ 980
- Subscribed
- 70.26x
- Lot size
- 18 shares
- P/E
- 56.67
- RoNW
- 14.55%
- RoCE
- 17.55%
- PAT margin
- 11.28%
- EBITDA margin
- 22.56%
- RoE
- 15.59%
- EPS
- ₹ 14.24
- NAV
- ₹ 101.51
- Promoter stake
- 41.29%
About
Molbio Diagnostics Limited was started in October 2000. It is a global point-of-care molecular diagnostics company. It does research, development, manufacturing and selling of quick diagnostic solutions for infectious diseases as well as non-communicable diseases. Its main product is the Truenat platform. This is a portable, battery-operated PCR based molecular testing system. It is made for places where lab facilities are limited, and it gives accurate results within an hour. The company offers testing for more than 30 diseases through 43 diagnostic tests. These include tuberculosis, COVID-19, HIV, Hepatitis B and C, and HPV. Through its subsidiaries and tie-ups, it also provides radiology, digital pathology and breast health screening solutions. It keeps adding new products through its own R&D. The company runs six manufacturing plants in India and serves customers in over 90 countries. Its customers include government health programmes, diagnostic labs, hospitals and international healthcare bodies. It holds a good number of patents and global certifications, and has grown through some strategic acquisitions. As on 31 March 2026, the company had 1,225 permanent employees across R&D, manufacturing, quality, sales, finance and corporate functions.
Timeline
- doneOpens10 Aug
- doneCloses12 Aug
- doneAllotment13 Aug
- doneRefunds14 Aug
- doneDemat credit14 Aug
- doneListing17 Aug
Grey market premium (GMP)
GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
- Highest
- ₹ 220 on 6 Aug 2026
- Lowest
- ₹ 115 on 14 Aug 2026
- First quoted
- ₹ 120 on 5 Aug 2026
Subscription
How many times each investor group bid for its share, as of 17 Aug 2026, 06:30 PM IST.
How much to apply for
The smallest and largest bids for each kind of investor at the upper price band.
| Retail (Min) | 1 | 18 | ₹ 14,526 |
| Retail (Max) | 13 | 234 | ₹ 1,88,838 |
| S-HNI (Min) | 14 | 252 | ₹ 2,03,364 |
| B-HNI (Min) | 69 | 1,242 | ₹ 10,02,294 |
Company overview
Financials
| Assets | 2,148.42 | 1,461.56 | 1,221.06 |
| Total Income | 1,455.17 | 1,027.94 | 840.66 |
| Profit After Tax | 164.14 | 138.58 | 83.54 |
| EBITDA | 328.24 | 256.64 | 185.09 |
| NET Worth | 1,144.68 | 952.95 | 807.94 |
| Reserves and Surplus | 1,148.84 | 990.84 | 845.48 |
| Total Borrowing | 412.64 | 123.16 | 174.58 |
Strengths
- Truenat is its own patented platform. It is portable, runs on battery and gives PCR results in about an hour, which makes molecular testing possible in small towns and villages where full labs are not available.
- The product range is deep. It covers more than 30 diseases through 43 tests, including TB, HIV, Hepatitis B and C, and HPV.
- Reach is global. The company sells in more than 90 countries and runs six manufacturing plants in India.
- Growth has been strong. Total income went up from Rs 840.66 crore in FY2024 to Rs 1,455.17 crore in FY2026, and profit after tax almost doubled from Rs 83.54 crore to Rs 164.14 crore.
- Return ratios are healthy. RoCE was 20.98% and RoNW was 15.23%. EBITDA for FY2026 was Rs 328.24 crore.
- The fresh money goes into building the business. Rs 125.12 crore is for an R&D facility and a Centre of Excellence, and Rs 80.81 crore is for plant and machinery at Goa Unit I, Goa Unit II and the Visakhapatnam unit.
Risks
- Most of the issue is an offer for sale. Out of Rs 939.70 crore, about Rs 739.70 crore is OFS. The company will get only around Rs 200 crore for its own growth.
- The issue is priced high. At the upper band of Rs 807, the P/E is about 56.67 times on an EPS of Rs 14.24.
- Borrowings have gone up sharply. Total borrowing rose from Rs 123.16 crore in FY2025 to Rs 412.64 crore in FY2026, more than three times in one year. None of the fresh issue money is set aside to repay this.
- Promoter holding is low. It was 44.89% before the issue and will fall further to 41.29% after listing.
- The company depends a lot on government health programmes, especially TB testing. A change in government tender policy, pricing or order size can hit revenue.
- Profit is growing slower than sales. Revenue went up 42% but profit after tax rose 18% between FY2025 and FY2026.
- Diagnostics is a heavily regulated business. The company needs approvals and certifications in every country it sells in, and any delay or loss of approval will affect sales.
- The company competes with large global diagnostics players who have deeper pockets for research and marketing.
What the money is for
| Funding capital expenditure towards the setting up of infrastructure for research and development facility, Center of Excellence and connected office space. | 125.12 |
| Funding capital expenditure towards the purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit, and | 80.81 |
| General Corporate Purposes | — |
Promoters
- Sriram Natarajan
- Chandrasekhar Bhaskaran Nair
- Sangeetha Sriram
- Shiva Sriram
- Sowmya Sriram
- Exxora Trading LLP
Anchor investors
33 anchors put in ₹ 281.45 Cr., including 18 mutual funds.
| HDFC PHARMA & HEALTHCARE FUND | 1,38,006 | 11.14 | 3.96% |
| HDFC VALUE FUND | 1,08,432 | 8.75 | 3.11% |
| HDFC INNOVATION FUND | 1,08,414 | 8.75 | 3.11% |
| HDFC MNC FUND | 78,858 | 6.36 | 2.26% |
| KOTAK CONTRA FUND | 1,44,576 | 11.67 | 4.15% |
| KOTAK HEALTHCARE FUND | 1,44,576 | 11.67 | 4.15% |
| KOTAK CONSUMPTION FUND | 1,44,558 | 11.67 | 4.14% |
| ICICI PRUDENTIAL QUALITY FUND | 1,85,886 | 15 | 5.33% |
| ISIF EQUITY LONG-SHORT FUND | 37,170 | 3 | 1.07% |
| ICICI PRUDENTIAL EXPORTS & SERVICES FUND | 1,48,698 | 12 | 4.26% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA PHARMA FUND RCT-RPF | 2,47,842 | 20 | 7.11% |
| NIPPON INDIA INNOVATION FUND | 1,23,912 | 10 | 3.55% |
| GOLDMAN SACHS FUNDS-GOLDMAN SACHS INDIA EQUITY PORTFOLIO | 3,09,780 | 25 | 8.88% |
| GOLDMAN SACHS ETF TRUST-GOLDMAN SACHS INDIA EQUITY ETF | 61,974 | 5 | 1.78% |
| INTERNATIONAL FINANCE CORPORATION | 2,47,842 | 20 | 7.11% |
| BLACKROCK GLOBAL FUNDS-INDIA FUND | 2,47,842 | 20 | 7.11% |
| MIRAE ASSET HEALTHCARE FUND | 2,47,842 | 20 | 7.11% |
| WHITEOAK CAPITAL PHARMA & HEALTHCARE FUND | 80,568 | 6.5 | 2.31% |
| WHITEOAK CAPITAL AGGRESSIVE HYBRID FUND | 43,362 | 3.5 | 1.24% |
| MOTILAL OSWAL LARGE CAP FUND | 1,23,930 | 10 | 3.55% |
| TATA INDIA PHARMA & HEALTHCARE FUND | 1,23,930 | 10 | 3.55% |
| EDELWEISS EQUITY SAVINGS FUND | 92,934 | 7.5 | 2.66% |
| EDELWEISS RECENTLY LISTED IPO FUND | 30,996 | 2.5 | 0.89% |
| HDFC LIFE INSURANCE CO.LTD. | 88,597 | 7.15 | 2.54% |
| AXIS MAX LIFE INSURANCE LTD.-SUSTAINABLE EQUITY FUND-ULIF02505/10/21 SUSTAINEQU104 | 35,104 | 2.83 | 1.01% |
| AXIS MAX LIFE INSURANCE LTD.-ULIF00225/06/04 LIFEBALANC 104-BALANCED FUND | 33,367 | 2.69 | 0.96% |
| AXIS MAX LIFE INSURANCE LTD.-ULIF 01715/02/13 PENSMAXIMI 104-PENSION MAXIMISER FUND | 11,401 | 0.92 | 0.33% |
| AXIS MAX LIFE INSURANCE LIMITED A/C UHG2S - INDIA CONSUMPTION OPPORTUNITIES FUND | 2,625 | 0.21 | 0.08% |
| AXIS MAX LIFE INSURANCE LIMITED A/C UMFPH - HIGH GROWTH PENSION FUND | 2,625 | 0.21 | 0.08% |
| AXIS MAX LIFE INSURANCE LTD.-ULGF 00217/04/06 GRATBALANC 104-GROUP GRATUITY BALANCED FUND | 1,750 | 0.14 | 0.05% |
| MAX LIFE INSURANCE CO.LTD.-ULIF 01815/02/13 PENSPRESER 104-PENSION PRESERVER FUND | 862 | 0.07 | 0.02% |
| MAX LIFE INSURANCE CO.LTD.-ULIF 00625/11/05 PENSBALANC 104-PENSION BALANCED FUND | 862 | 0.07 | 0.02% |
| BAJAJ LIFE INSURANCE LTD. | 88,596 | 7.15 | 2.54% |
Registrar, lead managers and documents
- Listing on
- BSE, NSE
- Face value
- ₹ 1 a share
- Registrar
- KFin Technologies Limited
- Lead managers
- Motilal Oswal Investment Advisors, Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, IIFL Capital Services Limited
- Red herring prospectus (RHP)
- Open
- Basis of allotment
- Open
IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.