Molbio Diagnostics shares debut with 29% premium

A company called Molbio Diagnostics makes medical testing equipment.

It decided to sell part of the company to the public for the first time.

This is called an initial public offering, or IPO.

Many people wanted to buy shares, so the offer was subscribed more than 70 times over.

When the shares started trading on Monday, they cost more than the original price.

People who bought shares at the IPO made money because the price went up.

The shares ended the day about 29% higher than the issue price.

The company is based in Goa, India.

It will use the money to build new research facilities and buy equipment.

This helps the company grow and make better diagnostic products.