3 weeks ago
Molbio Diagnostics IPO Subscribed 4.39 Times on Final Day
Molbio Diagnostics makes a small machine called Truenat that helps doctors find diseases quickly, even in places without big laboratories.
The machine runs on batteries and can give test results in about an hour.
The company wants to grow, so it is selling parts of itself to the public for the first time, which is called an IPO.
People can buy shares for between ₹768 and ₹807 each.
By the last day of the sale, investors had asked for more than four times as many shares as the company was offering.
The company's own employees were very interested, and big-money investors asked for more than nine times the shares set aside for them.
Unofficial 'grey market' traders think the shares might be worth about ₹945 when they start trading.
Some experts say buying the shares is good for patient, long-term investors, while one firm warns the price is already fully paid for.
The money raised will help expand the company's factories in Goa and Visakhapatnam.
The shares are expected to start trading on August 17.
The ₹939.70 crore Molbio Diagnostics mainboard IPO was subscribed 4.39 times on its final day of bidding on August 12, up from 0.83 times on Day 1 and 1.22 times on Day 2.
Category-wise demand was led by NIIs at 9.19 times, followed by retail at 4.03 times and QIBs at 1.40 times, with 3,57,81,246 shares bid against 81,58,529 offered.
The grey market premium stood at about ₹138 per share, implying an estimated listing price of around ₹945 — a nearly 17.10% premium over the ₹807 upper price band.
The issue combines a ₹200 crore fresh issue for capacity expansion at its Goa and Visakhapatnam facilities with a ₹739.70 crore offer for sale by existing shareholders.
Anand Rathi rated the issue 'subscribe – long term', calling it fully priced at 56.7x FY26 earnings, while Swastika Investmart said the valuation is below the 64.9x average P/E of listed peers.
- Who
- Molbio Diagnostics Ltd (founded October 2000), a global molecular diagnostics company backed by Temasek and Motilal Oswal Private Equity; selling shareholders include promoter entity Exxora Trading LLP, corporate shareholder India Business Excellence Fund III and promoter shareholder Chandrasekhar Bhaskaran Nair.
- What
- The company's ₹939.70 crore mainboard IPO was subscribed 4.39 times on the final day of bidding, with a grey market premium of about ₹138 per share.
- Where
- On the NSE and BSE in India; fresh issue proceeds will fund capacity expansion at the company's Goa and Visakhapatnam facilities.
- When
- Bidding opened on August 10, 2026 and closes on August 12; allotment is expected to be finalised on August 13 and listing is expected on August 17.
- Why
- To raise approximately ₹939.70 crore — a ₹200 crore fresh issue for growth-focused capacity expansion and a ₹739.70 crore offer for sale by existing shareholders.
Cautious: Fully Priced
Positive: Below Peer Valuations
IPO valuation
Cautious: Fully Priced
Anand Rathi rates the issue 'subscribe – long term', saying the company is fully priced at 56.7x FY26 earnings with a post-issue market capitalisation of ₹92,997 million, so meaningful returns may come only over a longer horizon.
Positive: Below Peer Valuations
Swastika Investmart says the valuation is broadly in line with industry levels and below the average P/E multiple of 64.9x of its listed peers, supporting a positive long-term outlook.
Listing gain expectations
Cautious: Fully Priced
The grey market premium is an unofficial indicator that can fluctuate considerably before the stock debuts and does not guarantee listing gains.
Positive: Below Peer Valuations
The grey market is signalling strong investor interest, with a GMP of about ₹138 per share implying an estimated listing price of around ₹945 — a nearly 17.10% premium over the upper price band.
Key facts
- Company
- Molbio Diagnostics Ltd (founded October 2000)
- IPO price band
- ₹768–₹807 per share
- Issue size
- ~₹939.70 crore (₹200 crore fresh issue + ₹739.70 crore OFS)
- Final-day subscription
- 4.39 times (as of 10:35 am on August 12, 2026)
- Grey market premium
- ~₹138 per share (≈17.10% over upper price band)
- Estimated listing price
- ~₹945 per share
- Anchor investment
- ₹281.5 crore from 33 anchor investors at ₹807 per share
- Listing date
- August 17, 2026 (NSE and BSE); allotment expected August 13
Quotes
Swastika Investmart
Swastika Investmart brokerage analyst
“"The company’s valuation is broadly in line with industry levels and remains below the average P/E multiple of 64.9x for its listed peers."”
livemint.com
“"We believe the issue is fully priced and recommend a "Subscribe – Long Term" rating to the IPO."”
livemint.com
Sources
Molbio Diagnostics IPO Day 3: Issue subscribed 4.39 times so far. Here's GMP, size, & other details - Apply or not?
Molbio Diagnostics IPO Subscription Reaches 1.22 Times, Employee Portion Leads Demand On Day 2










