Molbio Diagnostics IPO Listing: Shares List At 21% Premium Over IPO Price

Molbio Diagnostics share price made a strong debut on the stock exchanges on Monday, August 17, listing at Rs 980 per share, reflecting a premium of 21.44 per cent over the IPO price of Rs 807 per share on both NSE and BSE. At the listing price, Molbio Diagnostics's market capitalisation stood around Rs 11,293.52 crore.

The healthcare company's share listing remained stronger as compared to the grey-market indication. Molbio Diagnostics shares had a grey market premium (GMP) of Rs 116, or 14.37 per cent over the issue price this morning, as per investorgain data.

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IPO Details

Earlier, the IPO was subscribed 70.26 times on Wednesday, the last day of bidding. The price band for the Rs 940 crore Molbio Diagnostics IPO was fixed at Rs 768-Rs 807. The IPO included a fresh issue of shares worth up to Rs 200 crore, and existing shareholders submitted an offer for sale (OFS) of 91.66 lakh equity shares.

The company proposes to use Rs 106 crore of the fresh issue proceeds for capital expenditure to build infrastructure for an R&D facility, a centre of excellence, and connected office space.

An additional Rs 72 crore will be used to purchase plant, machinery, and other equipment for Goa Unit I, Goa Unit II, and the Visakhapatnam unit, and the remaining amount will be used for general corporate purposes.

Molbio Diagnostics, started in 2000, is a point-of-care diagnostics company that offers molecular tests for 30 diseases, including tuberculosis, COVID-19, HIV, HPV, and hepatitis B and C.