Molbio Diagnostics IPO Day 3: QIBs lead as subscription closes with over 70x booking; here’s how to check allotment

The initial public offering (IPO) of point-of-care diagnostics company Molbio Diagnostics closed for subscription with a total booking of 70.26 times on Wednesday, August 12.

Until 5 PM, the initial share sale of the company has received bids for 57,32,14,536 shares as compared to 81,58,529 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 49.80 times, while the retail individual investor (RII) segment saw a 12.96 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 186.39 times.

The issue has a price band of ₹768 to ₹807 per share. The ₹939.70 crore initial share sale is a mix of fresh issuance of shares totalling ₹200 crore and an offer for sale (OFS) of ₹739.70 crore by promoters and existing shareholders.

Under the OFS, Dr. Chandrasekhar Bhaskaran Nair, Exxora Trading LLP, India Business Excellence Fund III, J Guru Dutt, Gopalakrishna Sampathgiri, Gopalkrishna Mangalore Kini, Sangeetha M Kini, M A Rohit, M A Usha Rani, Shruthi G Kini and several other shareholders will offload their stakes.

The company seeks to use funds to the tune of ₹106 crore towards capital expenditure for establishing infrastructure for an R&D facility, Centre of Excellence and connected office space.

Another ₹72 crore will be utilised towards the purchase of plant, machinery and other equipment for various units, while the remaining funds will be deployed for general corporate purposes.

Before the IPO, the company raised ₹281.5 crore from anchor investors, including Goldman Sachs, BlackRock Global Funds, Mirae Asset, Nippon India Mutual Fund, Kotak Mutual Fund, Tata Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, ICICI Prudential Mutual Fund and HDFC Life Insurance.

Jefferies India, Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors are the book-running lead managers for the issue.

Molbio Diagnostics IPO key dates

Steps to check Molbio Diagnostics IPO allotment status on NSE

• Chose ‘Equity & SME IPO bid details’

• Select ‘Molbio Diagnostics’ from the list of IPO names.

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

Steps to check Molbio Diagnostics IPO allotment status BSE

• Select ‘Molbio Diagnostics’ as the issue type.

• From the dropdown menu, select ‘Molbio Diagnostics’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.

About the company

Incorporated in 2000, Molbio Diagnostics Ltd is a point-of-care diagnostics firm offering molecular testing for 30 diseases, including tuberculosis, HIV, HPV, COVID and Hepatitis B and C.

Its 'Truenat' platform, patented in over 100 nations for diagnosis of various infectious and non-communicable diseases, is a point-of-care polymerase chain reaction (PCR) platform. The platform, which is battery-operated, can be deployed in resource-limited settings and allows decentralised diagnosis within an hour.

It has six manufacturing units across India—two in Bengaluru, two in Goa, and one each in Pune and Visakhapatnam.