Molbio Diagnostics IPO

The Molbio Diagnostics mainboard IPO opens for subscription on 10 Aug 2026 and closes on 12 Aug 2026, offered at a price band of ₹768–807 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹939.7 crore. Retail investors bid in lots of 18 shares, a minimum application of ₹14,526.

Issue structure

The offer combines a fresh issue of ₹200 crore with an offer for sale (OFS) of ₹739.7 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding capital expenditure towards the setting up of infrastructure for research and development facility, center of excellence and connected office space. (₹105.54 crore), alongside funding capital expenditure towards the purchase of certain plant, machinery and other equipment for goa unit i, goa unit ii and visakhapatnam unit, and (₹72.28 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Molbio Diagnostics reported revenue of ₹1,455.17 crore and a net profit of ₹164.14 crore. Revenue grew from ₹840.66 crore in FY2024 to ₹1,455.17 crore in FY2026 (+73.0%). Net worth stood at ₹1,144.68 crore at the end of FY2026. At the upper band, that puts the issue at roughly 55.4× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 56.67× post-issue earnings and 9.55× book value, against a return on net worth of 14.55%. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Dr. Lal Pathlabs Ltd and Metropolis Healthcare Ltd, with a median peer P/E of about 63×. The issue's own post-issue P/E works out to 56.67×.

Promoters

The promoters of the company are <p>Sriram Natarajan, Chandrasekhar Bhaskaran Nair, Sangeetha Sriram, Shiva Sriram, Sowmya Sriram, Exxora Trading LLP</p>. Promoter holding stands at 44.89% before the issue and comes down to 41.29% after listing.

Grey market premium (GMP)

In the unofficial grey market, Molbio Diagnostics shares are quoted at a premium of ₹120 implying an expected listing around ₹927, about +14.9% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Molbio Diagnostics IPO was subscribed 70.27 times overall. The strongest demand came from qualified institutional buyers (QIB) at 186.39 times, with non-institutional investors (NII) at 49.8× and retail investors at 12.97×.

Listing performance

Molbio Diagnostics listed on 17 Aug 2026 at ₹980, a premium of +21.4% over the issue price of ₹807.

What to weigh

When evaluating the Molbio Diagnostics IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Molbio Diagnostics

Incorporated in 2000, Molbio Diagnostics Limited is a point-of-care (&ldquo;POC&rdquo;) diagnostics company focused on delivering accurate, rapid, and cost-effective healthcare technologies for infectious and non-communicable diseases. The company has developed the &lsquo;Truenat&rsquo; platform, a portable polymerase chain reaction (&ldquo;PCR&rdquo;) system that provides decentralized diagnosis within an hour, even in resource-limited settings. As of March 31, 2025, the platform is patented in over 100 countries and offers molecular testing for 30 diseases, including tuberculosis (TB), COVID, Hepatitis B and C, HIV, and HPV through 42 assays. The &lsquo;Truenat&rsquo; TB test is one of only two WHO-endorsed rapid molecular tests for initial TB diagnosis and rifampicin resistance detection. The company also provides radiology, digital pathology, and breast health screening solutions through its subsidiary Prognosys, associate OptraScan, and collaboration partner UE Lifesciences. The company operates five manufacturing facilities in India &ndash; two in Goa, one in Visakhapatnam (Andhra Pradesh), and two in Bengaluru (Karnataka). These units manufacture diagnostic devices, test kits, and radiology products such as ultraportable and mobile X-ray systems. The company has a global presence in over 80 countries with 33 international distributors and has sold more than 10,000 devices as of March 31, 2025. Products are supplied directly and through distributors to public health programs, diagnostic laboratories, and hospitals. The company generates revenues from device sales as well as recurring revenues from proprietary test kits. As of March 31, 2025, the company employed 1,000 permanent employees and 1,511 contract labourers.