Molbio Diagnostics

Molbio Diagnostics IPO

IPO Open Now

₹13,824

3.06 xOver-subscribed

Bidding Dates 10 Aug, 26 -12 Aug, 26

Min Investment ₹13,824

Lot Size18

Price Range ₹768 – ₹807

Issue Size ₹939.85 Cr.

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DRHP

IPO Subscription Details

Retail Subscription Details

3.14 x

Non-Institutional Buyers (sHNI)

6.88 x

Non-Institutional Buyers (bHNI)

4.2 x

Qualified Institutional Buyers (QIB)

1.39 x

Employees

4.74 x

Total

3.06 x

IPO Timeline

IPO Analysis

Strengths

The company's 'Truenat' platform enables screening and diagnosis for 30 infectious and non-communicable diseases. The global POCT market stands at USD 29.3 billion and is projected to grow at CAGR of 17.9% between 2025 and 2030 to USD 67.1 billion by 2030.

The company has strong in-house R&D capabilities with 153 permanent employees including 136 scientists. R&D expenditure was ₹ 874.56 million, ₹ 685.69 million and ₹ 597.77 million in Fiscals 2026, 2025 and 2024 respectively, representing 6.05%, 6.72% and 7.15% of revenue from operations.

The company has developed 'Truenat' platform comprising Trueprep universal nucleic acid extraction device and Truelab analyzer. The platform delivers results in approximately 60 minutes with higher sensitivity and specificity compared to conventional diagnostic methods.

Risks

The company derives 84.56%, 87.83% and 91.60% of its revenue from Indian central and state governments and international aid agencies in Fiscals 2026, 2025 and 2024 respectively. Any unfavorable policy changes or decreased funding for public healthcare programs may significantly impact product sales and adversely affect business operations.

The company derives 70.20%, 69.11% and 62.40% of its revenue from tuberculosis diagnostic test kits in Fiscals 2026, 2025 and 2024 respectively. Any decline in demand for TB test kits due to policy changes, alternative diagnostic methods, or supply chain disruptions could adversely affect financial performance.

The company invested ₹874.56 million (6.05% of revenue) in R&D in Fiscal 2026 and intends to continue substantial investments. The company cannot assure that R&D efforts will result in successful development and government approvals for new tests, which could adversely affect business results.

Objectives

The company proposes to establish infrastructure for research and development facility, Center of Excellence to be operated by Bigtec, and connected office spaces for employees and consultants. The facility will have approximately 150,000 square feet built-up area to consolidate all R&D functions under one roof.

The company intends to purchase plant, machinery and equipment to facilitate automation at manufacturing units. This includes automatic precision liquid micro-volume filling machines, screening machines, pick & place machines, and product assembly and packing machines to reduce manual dependency and manufacturing costs.

The company proposes to utilize funds for general corporate purposes and business requirements including meeting ongoing contingencies, expenses in ordinary course of business, funding growth opportunities, strategic initiatives, and other purposes as approved by the Board, subject to not exceeding 25% of Gross Proceeds.

Yearly Financial Results

Annual Financials	Mar 2024	Mar 2025	Mar 2026
Revenue	836.56	1020.42	1445.69
Expenses	657.83	820.41	1221.35
Other Income	4.10	7.52	9.48
Total Revenue	840.66	1027.94	1455.17
Profit Before Tax	129.64	194.43	231.14
Net Profit	83.54	138.58	164.14

Show % Change

Above figures are in Rs. Crores

Balance Sheet

Balance Sheet	Mar 2024	Mar 2025	Mar 2026
Total Assets	1221.06	1461.56	2148.42
Current Assets	823.16	929.83	1384.84
Fixed Assets	397.89	531.72	763.58
Total Equity & Liabilities	1221.06	1461.56	2148.42
Total Liabilities	392.22	494.27	839.65
Current Liabilities	342.76	441.66	557.36
Non Current Liabilities	49.46	52.60	282.29
Total Equity	828.84	967.29	1308.78

Show % Change

Above figures are in Rs. Crores

Cash Flow

Cash Flow	Mar 2024	Mar 2025	Mar 2026
Net Cash Flow	-66.99	138.30	233.23
Investing Activities	-45.01	-122.65	-93.22
Operating Activities	9.57	287.10	50.39
Financing Activities	-31.55	-26.15	276.07

Show % Change

Above figures are in Rs. Crores

About Molbio Diagnostics

Molbio Diagnostics Limited is an innovative point-of-care diagnostics company focused on expanding access to accurate, rapid and cost-effective healthcare technologies to diagnose infectious and non-communicable diseases. The company has developed its 'Truenat' platform, a novel POC polymerase chain reaction platform that operates in resource-limited settings as it is battery operated,...more

Website

www.molbiodiagnostics.com

Managing Director

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Part of Raise Financial Services

SEBI Stock Broker Registration No: INZ000006031 | Depository Participant (CDSL) ID: IN-DP-289-2016 | SEBI Research Analyst Registration No: INH000023357 Exchange Membership No. : NSE: 90133 | BSE: 6593 | MCX: 56320

Registered Office: Unit No. 2201, 22nd Floor, Gold Medal Avenue, S.V. Road, Beside Patel Petrol Pump, Piramal Nagar, Goregaon West, Mumbai - 400104