Molbio Diagnostics IPO opens on Aug 10 at a price band of ₹768-807
Funds will used to set up own research centre Bengaluru, among other things
Molbio Diagnostics is preparing to go public with an IPO opening on August 10 at a price range of ₹768-807 per share. The company aims to raise ₹931 crore through this offering. The IPO will include a fresh issue of up to ₹200 crore in equity shares and an offer for sale (OFS) of up to 91,66,000 shares by selling shareholders. Indraneil Borkakoty, Molbio's President, revealed that the new capital will primarily fund a research and development unit in Bengaluru, worth ₹105 crore, and automation projects at their Goa manufacturing plants to reduce costs.
Additionally, the company plans to consolidate operations at its own facility, doubling its R&D capabilities and developing new platforms. Promoters hold 46% of Molbio's equity, with institutional investors such as Motilal Oswal Alternate Investment Advisors and Temasek Holdings also participating in the OFS. The Truenat platform, a battery-operated and portable diagnostic tool, and a collaboration with UE LifeSciences for cancer-screening devices are some of Molbio's key initiatives.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
