Goa-based Molbio Diagnostics Raises INR 281.5 Cr Ahead of INR 940 Cr IPO

The company allotted 34.88 lakh equity shares to 33 anchor investors at INR 807 per share, the upper end of its IPO price band.

Goa-based Molbio Diagnostics has raised INR 281.5 crore from anchor investors ahead of its initial public offering (IPO).

The company allotted 34.88 lakh equity shares to 33 anchor investors at INR 807 per share, the upper end of its IPO price band.

The IPO, with a price band of INR 768-807 per share, will open for public subscription on August 10 and conclude on August 12.

As per reports, Molbio’s public issue is set to raise INR 940 crore, comprising a fresh issue of INR 200 crore and an offer for sale by existing shareholders.

Among the largest anchor investors are Goldman Sachs, BlackRock Global Funds, Mirae Asset, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Tata Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, and HDFC Life Insurance.

Backed by Temasek and the Motilal Oswal Group, Molbio Diagnostics has built its business around the Truenat platform, a portable, real-time PCR-based molecular diagnostics system designed to enable testing closer to patients and healthcare facilities.

The company’s diagnostics portfolio currently spans multiple infectious and non-communicable diseases, with its platform being used across a range of healthcare settings.

The company’s The battery-operated platform can be deployed in resource-limited settings and supports decentralised testing, enabling access to point-of-care molecular diagnostics closer to patients

The IPO proceeds are expected to support the company’s expansion plans, including investments in research and development infrastructure and automation across its manufacturing operations.

According to the company's filings, the fresh issue has been earmarked for an integrated R&D centre in Bengaluru and automation at its test-kit and device manufacturing facilities.

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