Molbio Diagnostics Files for IPO with ₹200 Crore Fresh Issue and OFS
Molbio Diagnostics, a point-of-care diagnostics company, has filed draft papers for its IPO. The offering includes a fresh issue of shares worth up to ₹200 crore and an OFS of 1.25 crore shares by existing shareholders. Proceeds will be used for R&D infrastructure, establishing a Center of Excellence, acquiring office space, and purchasing equipment. The company's flagship product is the 'Truenat' platform, a PCR device for diagnosing diseases within an hour, with patents in over 100 countries.
*this image is generated using AI for illustrative purposes only.
Molbio Diagnostics, a point-of-care diagnostics company, has taken a significant step towards going public by filing draft papers for its Initial Public Offering (IPO). The proposed IPO structure includes a fresh issue of shares worth up to ₹200 crore and an Offer for Sale (OFS) of 1.25 crore shares by existing shareholders.
IPO Structure and Participants
The IPO comprises two main components:
- Fresh Issue: Up to ₹200 crore
- Offer for Sale: 1.25 crore shares
The OFS will see participation from various stakeholders, including:
- Promoters: Exxora Trading LLP and Dr. Chandrasekhar Bhaskaran Nair
- Investors: V Sciences Investments Ltd. and India Business Excellence Fund III
- Individual: Gopalkrishna Mangalore Kini
Use of Proceeds
Molbio Diagnostics plans to utilize the funds raised from the fresh issue for several key purposes:
- Capital expenditure for research and development infrastructure
- Establishment of a Center of Excellence
- Acquisition of office space
- Purchase of equipment for facilities in Goa and Visakhapatnam
- General corporate purposes
Key Players in the IPO Process
The company has appointed a team of experienced financial institutions to manage the IPO:
Lead Book-Running Managers
- Kotak Mahindra Capital Company
- IIFL Capital Services
- Jefferies India
- Motilal Oswal Investment Advisors
Registrar
- KFin Technologies
Company Overview
Molbio Diagnostics specializes in point-of-care diagnostics, with its flagship product being the 'Truenat' platform. This innovative system is a battery-operated polymerase chain reaction (PCR) device designed for diagnosing both infectious and non-communicable diseases within an hour.
Global Reach
The company's Truenat platform has gained international recognition, with patents secured in over 100 countries. This extensive patent coverage underscores the global potential of Molbio's diagnostic technology.
The IPO filing marks a significant milestone for Molbio Diagnostics as it seeks to expand its operations and further develop its innovative diagnostic solutions. Investors and industry observers will be watching closely as the company progresses through the IPO process.
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