Molbio Diagnostics Limited, a Goa-based leader in point-of-care (POC) molecular diagnostics, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its much-anticipated Initial Public Offering (IPO).
The IPO will include a fresh issue of equity shares aggregating up to ₹200 crore and an Offer for Sale (OFS) of up to 1.25 crore equity shares by existing shareholders.
According to the DRHP, Molbio plans to utilize the net proceeds as follows:
- ₹99.3 crore for infrastructure development including a state-of-the-art R&D facility, Center of Excellence, and office space.
- ₹73.5 crore for purchase of plant, machinery, and equipment for its Goa and Visakhapatnam manufacturing units.
- The remainder for general corporate purposes.
Molbio’s patented Truenat platform is recognized globally in over 100 countries as a breakthrough in rapid molecular diagnostics. Being portable and battery-operated, Truenat enables decentralized testing and provides results within an hour, making it crucial for diseases like tuberculosis, COVID-19, HIV, HPV, and Hepatitis B & C.
- Incorporated in 2000, Molbio operates five manufacturing facilities across India — two in Goa, one in Visakhapatnam, and two in Bengaluru.
- The Machohalli (Bengaluru) unit, operated by its subsidiary Prognosys Medical Systems, manufactures radiology products including ultraportable X-rays and C-arm systems.
- As of March 31, 2025, the company’s annual installed capacity was 3,600 devices and 3.9 crore test kits.
In FY25, Molbio Diagnostics reported:
- Revenue from operations: ₹1,020 crore (22% YoY growth)
- Profit After Tax: ₹138.5 crore
The company’s promoters include Sriram Natarajan, Chandrasekhar Bhaskaran Nair, Sangeetha Sriram, Shiva Sriram, Sowmya Sriram, and Exxora Trading LLP.
The book-running lead managers for the IPO are Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India, and Motilal Oswal Investment Advisors.
With robust financials, a globally recognized platform, and plans for significant expansion, Molbio Diagnostics’ IPO is poised to be a landmark event in India’s healthcare and diagnostics sector.
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