Molbio Diagnostics IPO Listing: Shares List At Over 21% Premium To Issue Price
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Molbio Diagnostics shares made a strong stock market debut. They listed at a premium of over 21% after the IPO received 70 times the subscription during the three-day bidding period.
Molbio Diagnostics shares opened on a positive note on the stock exchanges. The stock was listed at ₹980 on the Bombay Stock Exchange (BSE), at a premium of 21.44%. Molbio Diagnostics share price on the National Stock Exchange (NSE) was also ₹980 at the time of listing.
Molbio Diagnostics IPO And Subscription Details
Molbio Diagnostics initial public offering (IPO) opened for public subscription on 10 August and closed on 12 August, with the issue receiving an overall subscription of 70 times. The retail portion was subscribed 13 times, while the portion reserved for non-institutional investors (NIIs) was booked 50 times.
The IPO had a price band of ₹768 to ₹807 per share and comprised a fresh issue of shares worth ₹200 crore. The issue also included an offer for sale (OFS) of 91.66 lakh shares, aggregating to ₹739.70 crore.
Molbio Diagnostics plans to use the net proceeds from the fresh issue to establish a research and development facility and centre of excellence through its wholly owned subsidiary, Bigtec. The company will also use the funds for capital expenditure towards connected office space for itself, its subsidiaries and associates.
About Molbio Diagnostics
Established in October 2000, Molbio Diagnostics Ltd. is a global molecular diagnostics company engaged in developing, manufacturing and commercialising rapid diagnostic solutions for infectious and non-communicable diseases.
The company is best known for its proprietary Truenat platform, a portable, battery-operated PCR-based molecular diagnostic system that can deliver accurate test results within an hour. The platform is designed to support testing in resource-constrained healthcare settings.
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