Molbio Diagnostics IPO - Listing Performance & Details

Molbio Diagnostics Limited was incorporated in October 2000 and is headquartered in Goa. It works in the point-of-care molecular diagnostics sector.

The company has developed the Truenat platform, a portable, battery-operated point-of-care PCR system that enables decentralized molecular diagnosis within an hour, including in resource-limited settings. As of March 31, 2025, the platform was patented in more than 100 countries and supported testing for 30 diseases, including tuberculosis, COVID-19, Hepatitis B and C, HIV, and HPV, through 42 assays, with its Truenat TB test carrying WHO endorsement. The company also offers devices for radiology, digital pathology, and breast health screening through subsidiaries and partners. Products are supplied directly and through 33 international distributors to public health programs, diagnostic laboratories, and hospitals in more than 80 countries, with over 10,000 devices sold as of March 31, 2025. As of the same date, the company had 1,000 permanent employees and 1,511 contract workers. The promoters are Sriram Natarajan, Dr. Chandrasekhar Bhaskaran Nair, Sangeetha Sriram, Shiva Sriram, Sowmya Sriram, and Exxora Trading LLP.

On a restated basis, revenue from operations rose from Rs 332.46 crore in FY23 to Rs 836.56 crore in FY24 and Rs 1,020.42 crore in FY25, while the company moved from a loss of Rs 3.45 crore in FY23 to a profit of Rs 83.54 crore in FY24 and Rs 138.58 crore in FY25. The IPO is a mainboard, book-built issue comprising a fresh issue of equity shares of face value Rs 1 each aggregating up to Rs 200 crore, along with an offer for sale of up to 1.25 crore equity shares by existing shareholders including V Sciences Investments Pte. Ltd., Exxora Trading LLP, India Business Excellence Fund III, Dr. Chandrasekhar Bhaskaran Nair, and Gopalkrishna Mangalore Kini.

As per the DRHP, net proceeds from the fresh issue are proposed to be used for capital expenditure toward establishing new manufacturing infrastructure, along with other objects stated in the offer document.