Dhoot Transmission and Molbio Diagnostics saw their stocks surge on debut, driven by hefty investor interest and strong subscription levels, marking a bullish start for both companies amid positive sector momentum.
Shares of Dhoot Transmission and Molbio Diagnostics surged on their first day of trading on Monday, giving both offerings a buoyant debut after heavy investor demand. Dhoot Transmission climbed 38 per cent above its issue price on the National Stock Exchange, while Molbio Diagnostics opened 21.4 per cent higher and later extended those gains.
Dhoot Transmission, backed by Bain Capital, began trading at ₹1,200 on the NSE against an offer price of ₹871, and at ₹1,193.80 on the BSE. The stock later moved to ₹1,205 on the NSE. The company’s public issue drew strong interest across categories, with overall subscription of 74.21 times, according to the listing data, led by qualified institutional buyers and non-institutional investors. The auto components maker also attracted marquee anchor investors including BlackRock, Abu Dhabi Investment Authority and SBI Mutual Funds. According to the company’s offer documents and related market reporting, it plans to use fresh proceeds to reduce borrowings, support subsidiaries in debt repayment and fund new wiring harness plants in Haryana and Tamil Nadu.
Market commentators pointed to Dhoot’s revenue momentum, established position in wiring harnesses and exposure to electric vehicles as reasons for investor enthusiasm, while also warning about customer concentration and execution risk. Moneycontrol had reported earlier that the company, founded in 1999 by Rahul Dhoot, had initially filed confidential IPO papers with the market regulator as it prepared to tap public markets.
Molbio Diagnostics also enjoyed a strong reception, listing at ₹980 on both exchanges against an issue price of ₹807, before rising further to ₹1,003.85. The diagnostics company’s IPO was subscribed 70.26 times overall, with especially strong demand from institutional and non-institutional investors. Temasek-backed Molbio raised anchor funds ahead of the float and has said it intends to channel the fresh issue proceeds into an R&D facility, a Centre of Excellence, equipment purchases for manufacturing sites and general corporate purposes.
The Goa-based company has built its business around the Truenat molecular diagnostics platform, which it says is used in more than 85 countries and underpins testing for a wide range of diseases. Molbio said its operating revenue rose 22 per cent in fiscal 2025 to ₹1,020.4 crore and that more than 10,000 Truenat devices have been deployed globally. The company has also been expanding through acquisitions, including a strategic stake in US-based OptraScan, as it pushes into digital pathology. Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India and Motilal Oswal Investment Advisors were the book-running lead managers to the issue.
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