Molbio Diagnostics IPO: Truenat Maker's ₹940 Crore Issue and Its 21% Debut
Molbio Diagnostics IPO opens on 10 August 2026. Here's a look at its GMP, financial performance, valuation, peer comparison, and key risks.
Molbio Diagnostics IPO: The ₹939.70 crore issue, a ₹200 crore fresh issue plus a ₹739.70 crore offer for sale, was open from 10 to 12 August 2026 at ₹768 to ₹807 per share. Allotment took place on 13 August, and the shares listed on the NSE at ₹980 on 17 August 2026, a 21% premium to the upper band.
Molbio Diagnostics IPO: Molbio Diagnostics develops and manufactures diagnostic testing devices used to detect infectious and other diseases. Its flagship Truenat platform is a portable testing machine that delivers results in about an hour.
Molbio Diagnostics is set to launch a ₹939.70 crore mainboard IPO through a combination of a fresh issue of shares and an offer for sale (OFS). Here are the key details of the issue.
Molbio Diagnostics IPO Details
Here are the key dates and issue details.
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Molbio Diagnostics IPO is worth ₹939.70 cr, and the issue is a combination of a fresh issue of ₹ 200 cr and offer for sale of ₹739.70 cr.
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Molbio Diagnostics IPO opened for subscription on 10 Aug 2026 and closed on 12 Aug 2026. The price band was set between ₹768 to ₹807
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Molbio Diagnostics IPO’s allotment took place on 13 Aug 2026 and the shares were listed on the BSE and NSE on 17 Aug 2026.
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Promoters held 46.65% before the IPO, which came down to 43.01% after listing.
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Kfin Technologies was the registrar for the Molbio Diagnostics IPO.
|
Parameter |
Detail |
|---|---|
|
IPO Open Date |
10 Aug 2026 |
|
IPO Close Date |
12 Aug 2026 |
|
Allotment Date |
13 Aug 2026 |
|
Listing Date |
17 Aug 2026 (BSE & NSE) |
|
Price Band |
₹768 to ₹807 per share |
|
Lot Size |
18 shares |
|
Minimum Investment |
₹14,526 |
|
Fresh Issue |
₹200.00Cr |
|
Offer for Sale (OFS) |
₹739.70Cr |
|
Total Issue Size |
₹939.70Cr |
Molbio Diagnostics IPO Listing Performance
Molbio Diagnostics shares debuted on the NSE at ₹980 on 17 August 2026, a 21% premium to the upper price band of ₹807. The grey market premium ahead of listing had pointed to a gain of about 18%, so the actual debut was slightly better.
About Molbio Diagnostics IPO
Founded in 2000, Molbio Diagnostics develops and manufactures rapid diagnostic solutions for infectious and other diseases. Its flagship Truenat platform is a portable molecular testing system that delivers results in about an hour.
The company offers diagnostic tests for more than 30 diseases, including tuberculosis (TB), COVID-19, HIV, Hepatitis B & C, and HPV. It also provides radiology, digital pathology, and breast health screening solutions through its subsidiaries and continues to expand its product portfolio through in-house research and development.
Molbio operates 6 manufacturing facilities in India and serves customers in over 90 countries, including hospitals, diagnostic laboratories, government health programmes, and international healthcare organisations. As of March 31, 2026, the company had 1,225 permanent employees.
Strengths
- Proprietary Truenat diagnostic platform, patented in 100+ countries after 13 years of development
- Recurring-revenue model — disease-specific test kits tied to an installed base of 12,500+ devices across 90+ countries
- Six manufacturing facilities in India plus a dedicated R&D unit
- ISO 13485 and MDSAP certifications supporting multi-jurisdiction regulatory access
Risk Factors
- Heavy government/aid-agency dependence — 84.56% of finished-goods revenue in FY2026
- Product concentration — TB test kits alone were 70.20% of finished-goods revenue
- Customer concentration — top 10 customers were 83.26% of finished-goods revenue
- R&D execution risk — only one new assay commercialised in FY2026
Molbio Diagnostics IPO Reservation
For Molbio Diagnostics IPO, 35% of the issue has been reserved for retail investors. The table below shows the allocation across different investor categories.
|
Investor Category |
Shares Offered |
|---|---|
|
QIB Investors |
50% |
|
Retail Investors |
35% |
|
NII (HNI) Investors |
15% |
Molbio Diagnostics IPO Lot Size
Retail investors could apply for a minimum of 1 lot, which includes 18 shares costing ₹14,526 Maximum investment allowed for retail investors is 13 lots, which totals 234 shares and costs ₹1,88,838.
|
Application |
Lots |
Shares |
Amount (₹) |
|---|---|---|---|
|
Retail (Min) |
1 |
18 |
14,526 |
|
Retail (Max) |
13 |
234 |
1,88,838 |
|
S-HNI (Min) |
14 |
252 |
2,03,364 |
|
S-HNI (Max) |
68 |
1,224 |
9,87,768 |
|
B-HNI (Min) |
69 |
1,242 |
10,02,294 |
Molbio Diagnostics IPO Financial Performance
Molbio Diagnostics reported a PAT of ₹164 Cr as of 31 March 2026, up from ₹83 Cr in FY24. Over the past 3 years, the company’s PAT and PAT margin have grown steadily. All financial details are provided in the table below.
|
Period Ended |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|---|---|---|---|
|
Revenue from Ops (₹ Cr) |
1445.69 |
1020.21 |
836.56 |
|
Total Income (₹ Cr) |
1,455.17 |
1,027.9 |
840.66 |
|
EBITDA (₹ Cr) |
328.24 |
256.64 |
185.09 |
|
EBITDA Margin (%) |
22.56 |
24.97 |
22.02 |
|
PAT (₹ Cr) |
164.14 |
138.58 |
83.54 |
|
PAT Margin (%) |
11.28 |
13.48 |
9.94 |
|
ROE (%) |
15.59 |
16.20 |
13.20 |
|
ROCE (%) |
17.55 |
20.98 |
15.80 |
Source: Molbio Diagnostics IPO RHP
Molbio Diagnostics IPO Peer Comparison from RHP
Molbio Diagnostics IPO has a decent EPS compared to its peers. Higher EPS is always considered better. Below is a brief comparison of Molbio Diagnostics IPO.
|
Company |
EPS (Diluted) |
P/E (x) |
|---|---|---|
|
Vijaya Diagnostic Centre |
16.79 |
81.02 |
|
Metropolis Healthcare |
9.19 |
63.72 |
|
Dr. Lal PathLabs |
30.20 |
62.20 |
|
Poly Medicure |
31.75 |
52.61 |
|
Molbio Diagnostics |
14.77 |
— |
As of 31 March 2026
Conclusion
Molbio Diagnostics IPO was a ₹939.70 crore issue combining a ₹200 crore fresh issue and a ₹739.70 crore offer for sale, priced at ₹768 to ₹807 per share. The company develops and manufactures diagnostic testing devices, led by its Truenat platform, and kept healthy margins in FY26 even as revenue and net profit declined from the previous year. The shares listed at a 21% premium on 17 August 2026. With the promoter stake down to 43.01%, investors should track test volumes and new product approvals rather than the listing gain.
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