Molbio Diagnostics IPO
Molbio Diagnostics LtdMainboard
This IPO has listed.
- Open date
- 10 Aug 2026
- Close date
- 12 Aug 2026
- Min. Investment
- ₹14,526
- Lot Size
- -
- Fresh Issue
- ₹200.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers186.39x
- Non-Institutional Investors49.80x
- Retail-Individual Investors12.96x
- Total70.26x
Schedule
- Completed: IPO open date10 Aug 2026
- Completed: IPO close date12 Aug 2026
- Completed: Allotment date13 Aug 2026
- Completed: Funds unblock or debit14 Aug 2026
- Completed: Tentative listing date17 Aug 2026
About
Promoter shareholding in Molbio Diagnostics Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Chandrasekhar Bhaskaran Nair | 61,09,850 | 5.42% | 48,88,850 | 4.24% |
| Exxora Trading LLP | 4,45,04,951 | 39.47% | 4,26,93,951 | 37.05% |
Financials of Molbio Diagnostics IPO
| Key Performance Indicators | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Operating Revenue | - | - | - |
| Other Income | - | - | - |
| Total Income | 836.56 | 1020.42 | 1445.69 |
| Total Expenses | 711.03 | 834.69 | 1227.88 |
| Profit Before Tax | - | - | - |
| Total Profit | 101.95 | 145.10 | 166.59 |
Molbio Diagnostics IPO Strengths & Risks
- We are well placed to address unmet demand in a large and growing molecular diagnostic market with gaining credence of point-of-care testing.
- Innovative, R&D focussed business.
- We have developed and commercialized a novel portable multi-disease point-of-care molecular diagnostics platform.
- We have a scalable business model with strong entry barriers, high proportion of recurring revenues and a growing suite of tests.
- Our strategic collaborations and acquisitions enhance our capabilities and offerings.
- We have a management team with deep domain expertise and track record of delivering strong financial performance.
- Risks Relating to the Business: The company derives a portion of its revenues from the sale of the company's products to the Indian central and state governments, and international aid agencies for their public healthcare programs. The company's revenue from such government and international aid agencies was 84.56%, 87.83% and 91.60% of its revenue from contracts with customers - sale of products - finished goods in Fiscals 2026, 2025 and 2024, respectively. Any unfavourable policy changes by these agencies or a decrease in funding for public healthcare programs may impact the sale of the company's products and adversely affect its business, financial condition, results of operations and cash flows. Further, the company's revenue from the top 10 customers was 83.26%, 83.62% and 78.54% of its revenue from contracts with customers - sale of products - finished goods in Fiscals 2026, 2025 and 2024, respectively. The loss of any of these customers or a decline in demand for the company's products from them could also have an adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company derives a portion of its revenues from the sale of diagnostic test kits for tuberculosis ("TB"). Its revenue from the sale of test kits for TB was 70.20%, 69.11% and 62.40% of the company's revenue from contracts with customers - sale of products - finished goods in the Fiscals 2026, 2025 and 2024, respectively. Any decline in the demand for such test kits may have an adverse effect on the company's business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: The company has invested and intend to continue to invest in research and development ("R&D") efforts to grow its menu of tests. The company cannot assure you that its R&D efforts will result in the successful development and obtaining of government approvals for new tests, which could adversely affect its business, results of operations, and cash flows.
- Risks Relating to the Business: The company's Subsidiaries, Prognosys Medical Systems Private Limited, Prognosys Healthcare (India) Private Limited and OptraScan INC, have incurred losses in the past and may incur losses in the future which could have an adverse effect on its business, financial condition, results of operations and cash flows. Further, the Company (on a consolidated basis) and some of its Subsidiaries have experienced negative cash flows from operating activities in the past. Any such negative cash flows in the future could affect the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's Promoters (certain of whom are also Directors) hold Equity Shares in the Company and may be interested in the Company's performance in addition to any remuneration and reimbursement of expenses payable to them.
- Risks Relating to the Business: If the company is unable to patent new processes and protect its proprietary information or other intellectual property, the company's business may be adversely affected.
- Risks Relating to the Business: The company's Statutory Auditors' audit reports on its audited consolidated financial statements for Fiscals 2026, 2025 and 2024 includes emphasis of matter paragraph, modifications for certain matters specified in the report on other legal and regulatory requirements and certain qualifications under the reporting requirements under the Companies (Auditor's Report) Order, 2020 and Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (as amended). Its cannot assure you that auditors' reports for any future fiscal periods will not contain such emphasis of matter, modifications, qualifications and observations.
- Risks Relating to the Business: The company intends to utilize a portion of the Net Proceeds for funding its capital expenditure requirements towards (i) the setting up of infrastructure for a research and development facility and Center of Excellence which will be operated by its wholly-owned Subsidiary, Bigtec, and connected office space for the Company, Subsidiaries and Associate, and (ii) purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit. Its inability to successfully undertake such capital expenditure within the estimated cost could have a material adverse effect on the company's business, cash flows, operations, prospects or financial results.
- Risks Relating to the Business: Any product liability claims or regulatory actions or imposition of liquidated damages on account of the company's failure to meet the contractual obligations, could have an adverse effect on its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: There have been certain instances of delays in payment of statutory dues by the company in the past. Any delay in payment of statutory dues by the company in future, may result in the imposition of penalties and in turn may have an adverse effect on its business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: Under-utilization of the company's manufacturing capacities over extended periods, or significant underutilization in the short term could increase its cost of production and the company's operating costs and adversely impact its business, growth prospects and future financial performance.
- Risks Relating to the Business: The company's operations is subject to extensive government regulation and if the company fails to obtain, maintain or renew its statutory and regulatory licenses, permits and approvals required to operates the company's business, results of operations and cash flows may be adversely affected.
- Risks Relating to the Business: The company's ability to develop or adopt new technology to respond to market requirements poses a challenge in the company's business. The cost of developing or implementing new technologies for the company's operations could be significant and could adversely affect its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's manufacturing facilities, R&D unit and Registered and Corporate Office are not located on land owned by it and the company has only leasehold rights. In the event its lose or are unable to renew such leasehold rights, the company's business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The company's Statutory Auditor's reports on internal financial controls issued on its audited consolidated financial statements for Fiscal 2024 contain a disclaimer of opinion relating to the Statutory Auditors' inability to obtain appropriate audit evidence to provide a basis for opinion on adequate internal financial controls.
- Risks Relating to the Business: The company's inability to accurately forecast demand for its products and manage the company's inventory may have an adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company has capital expenditure requirements and may requires additional capital and financing in the future and its operations could be curtailed if the company is unable to obtain the required additional capital and financing when needed.
- Risks Relating to the Business: The company exports its products to various countries and the company's revenue from customers outside India as per Ind AS 108 "Operating Segments" represented 9.62%, 19.32% and 9.83% of its revenue from operations in the Fiscals 2026, 2025 and 2024, respectively. Any adverse events affecting these countries could have an adverse impact on the company's business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: The company depends on its Promoters, Senior Management, Key Managerial Personnel and other employees (including qualified and skilled personnel with technical expertise), and if the company is unable to recruit and retain such personnel, its business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The company incurs royalty and commission expenses in the ordinary course of its business operations. Any increase in these payments could adversely impact the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Internal or external fraud or misconduct by the company's employees could adversely affect its reputation, the company's results of operations, financial condition and cash flows.
- Risks Relating to the Business: Exchange rate fluctuations may adversely affect the company's business, financial conditions, cash flows and results of operations.
- Risks Relating to the Business: Some of the company's corporate records, including forms filed with the Registrar of Companies, are not traceable.
- Risks Relating to the Business: The company is dependent on third parties for the transportation of its products to distributors or directly to end customers. Any failures by or loss of a third-party transport service provider could result in delays and increased costs, which may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company, Subsidiaries, Promoters and Directors is involved in certain legal and regulatory proceedings including certain income tax surveys carried out by the income tax authorities. Any adverse decision in such proceedings may have an adverse effect on the company's business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company's sales cycle and sales demand is variable, which makes it difficult for the company to forecast its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company depends on a few suppliers for the supply of some of its raw materials (The company's purchase of raw materials from top 10 suppliers accounted for 58.52%, 58.21% and 58.52% of purchases of raw materials and components consumed in Fiscal 2026, 2025 and 2024, respectively) and any disruption in the supply or increase in the prices of raw materials could adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The objects of the Fresh Issue for which the funds are being raised has not been appraised by any bank or financial institutions. Any variation in the proposed utilization of the company's Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
- Risks Relating to the Business: The company relies on its manufacturing and R&D facilities and any unscheduled or prolonged disruption or quality control issues at such facilities could adversely affect the company's business, financial condition, results of operations, and cash flows.
- Risks Relating to the Business: The company's business and prospects may be adversely affected if the company is unable to maintain and grow its brand image.
- Risks Relating to the Business: If the company inadvertently infringe on the patents of others, its may be subjected to legal action and the company's business and reputation may be adversely affected.
- Risks Relating to the Business: There have, in the past, been instances of non-compliance by the Company and Bigtec under Indian company laws requiring the Company to initiate compounding or adjudication proceedings. Its cannot assure you that such lapses will not occur in the future, or that the company will be able to rectify or mitigate such lapses in a timely manner or at all or that no legal proceedings or regulatory actions will be initiated against the Company in the future in relation to these matters, which may impact its financial condition and reputation.
- Risks Relating to the Business: The company has entered into related party transactions in the past and may continue to do so in the future, which may potentially involve conflicts of interest. Further, its may be required to reimburse expenses incurred by directors and other officials in connection with official business activities. Any perception of inadequacy in documentation or non-compliance with applicable laws and governance standards could lead to regulatory scrutiny or stakeholder concerns.
- Risks Relating to the Business: The company's business faces certain key challenges and threats that could adversely impact its operations and growth prospects.
- Risks Relating to the Business: If the company's products does not perform as expected or have any defects, the market acceptance of its products may decline, which in turn could have an adverse effect on the company's business, results of operations, financial condition, cash flows and reputation.
- Risks Relating to the Business: The company relies on distributors to supply its products to the company's customers, particularly government sector. Failures to establish and maintain relationships with distributors would adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company has recently invested in OptraScan INC and Chayagraphics (India) Private Limited, and acquired controlling stake in Prognosys Medical Systems Private Limited and Prognosys Healthcare (India) Private Limited and any failures to realize the anticipated benefits of these acquisitions or any future acquisitions that its may undertake may have an adverse effect on the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company has availed certain unsecured loans which are repayable on demand. As of May 31, 2026, the company has outstanding unsecured loans of Rs. 392.43 million. Any demand from the borrowers for repayment of such unsecured loans may affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's inability to meet its obligations, including financial and other covenants under the company's debt financing arrangements could adversely affect its business, results of operations and cash flows.
- Risks Relating to the Business: The company has significant working capital requirements. If its experience insufficient cash flows to fund the company's working capital requirements and if the company is not able to provide collateral to obtain letters of credit and bank guarantees in sufficient quantities, there may be an adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company proposes to utilise an amount of up to Rs. 1,055.35 million from the Net Proceeds for funding the capital expenditure towards the setting up of the necessary infrastructure to house its research and development facility, and proposed Center of Excellence ("COE") which will be operated by the company's wholly-owned Subsidiary, Bigtec and connected office spaces for its, Subsidiaries and Associate. This infrastructure will not directly augment the company's manufacturing capabilities or cash-flow and may lead to an increase in operating expenses in the short term.
- Risks Relating to the Business: The company's inability to effectively manage its growth or implement the company's growth strategies may have an adverse effect on its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Majority of the company's Directors are not directors of listed companies and hence lack of such adequate experience to address complexities associated with listed companies, could have an adverse impact on its business and operations.
- Risks Relating to the Business: Any disruption to the steady and regular supply of workforce for the company's operations, including due to strikes, work stoppages or increased wages demands by its workforce or any other kind of disputes with the company's workforce or its inability to control the composition and cost of the company's workforce could adversely affect its business, cash flows and results of operations.
- Risks Relating to the Business: The company's insurance coverage may not be adequate or its may incur uninsured losses or losses in excess of the company's insurance coverage which may impact on its financial condition, cash flows and results in operations.
- Risks Relating to the Business: The company has certain contingent liabilities that have been disclosed in the company's financial statements, which if they materialize, may adversely affect its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company intends to utilise a portion of the Net Proceeds towards the purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit, and the company intends to import a majority of this plant, machinery and other equipment, which may be subject to import duties and currency exchange fluctuations.
- Risks Relating to the Business: The company intends to utilise a portion of the Net Proceeds for funding its capital expenditure requirements, which may be subject to unanticipated delays in implementation.
- Risks Relating to the Business: Technology failures could disrupt the company's operations and adversely affect its business operations and financial performance.
- Risks Relating to the Business: Cyber threats and non-compliance with and changes in privacy laws and regulations may have an adverse effect on the company's business, results of operations and financial condition and cash flows.
- Risks Relating to the Business: Information relating to the company's annual installed capacity and the historical capacity utilization of its products included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- Risks Relating to the Business: The company's Promoters and members of its Promoter Group will continue to hold a significant equity stake in the Company after the Offer and their interests may differ from those of the other shareholders.
- Risks Relating to the Business: Certain sections of this Red Herring Prospectus disclose information from the 1Lattice Report which is a paid report and commissioned and paid for by it exclusively in connection with the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Risks Relating to the Business: Certain non-GAAP financial measures and certain other statistical information relating to the company's operations and financial performance like EBITDA, EBITDA Margin, EBITDA Pre R&D, EBITDA Pre R&D Margin, Restated Profit/(loss) for the year Margin, Return on Net worth, Return on Equity, EBIT, Capital Employed, Return on Capital Employed and Net Asset Value per equity share has been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares for the company's Selling Shareholders may be lower than the Offer Price.
