Molbio Diagnostics is set to launch its initial public offering on August 10, aiming to raise up to ₹2,000 million for expansion, as the company seeks to capitalise on recent growth and reinforce manufacturing capabilities.
Molbio Diagnostics is set to launch its initial public offering on August 10, with the issue scheduled to close on August 12, according to the company’s offer documents and market round-ups. The diagnostics maker has fixed a price band of ₹768 to ₹807 a share, and investors will need to bid for at least 18 shares, or multiples thereof. The stock is proposed to list on both the BSE and the NSE.
The offer combines a fresh issue of shares worth up to ₹2,000 million with an offer for sale of as many as 9,166,000 equity shares by existing shareholders, according to the draft prospectus. Business Standard said the company plans to use part of the proceeds for capital expenditure, including infrastructure and equipment for manufacturing facilities, while other reports similarly described expansion-related spending as a key objective.
The timing of the sale includes an anchor investor allocation a day before the public offer opens, on August 7, which is a common step in Indian IPOs to attract large institutional buyers ahead of retail bidding. Several market platforms tracking the issue also say the allotment process, refunds and demat credit will follow the usual post-closing schedule before the listing on the exchanges.
Molbio, which makes diagnostic products, has been presented by IPO trackers as a growth company with improving financial performance in recent years. INDmoney’s summary of the issue said the business had recorded strong revenue and profit growth over the past three financial years, a point likely to draw attention from investors weighing the premium pricing against the company’s expansion plans.
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