Upcoming IPO: Molbio Diagnostics Files RHP, Key Things To Know Before Issue Opens On August 10

Upcoming IPO: Molbio Diagnostics, the Goa-based point-of-care diagnostics maker backed by Temasek and the Motilal Oswal Group, filed its red herring prospectus (RHP) with the Registrar of Companies on August 3, 2026. The public issue will open on August 10 and close on August 12, and the anchor book will open on August 7. The price band and the lot size are yet to be announced.

The Molbio Diagnostics IPO is a mix of a fresh issue worth up to Rs 200 crore and an offer for sale (OFS) of up to 9.17 million equity shares.

Molbio Diagnostics IPO Allotment And Listing Dates

The basis of allotment is expected to be finalised on August 13. For unsuccessful bidders, the blocked amount in their bank account is likely to be released on August 14. Investors who receive shares can also expect them to be credited to their demat accounts on the same day. The shares are likely to list on the BSE and NSE on August 17.

Molbio Diagnostics IPO Selling Shareholders

The OFS comprises 9.17 million shares. Promoter Exxora Trading LLP will sell 1.81 million shares, while promoter Dr Chandrasekhar Bhaskaran Nair, jointly with Anita Angela Chandrasekhar, will offload 1.22 million shares. India Business Excellence Fund III, backed by the Motilal Oswal Group, will sell one million shares. Apart from them, 14 other shareholders will trim their stakes.

The company will not receive any proceeds from the OFS. The money raised through this portion will go to the selling shareholders after deducting applicable expenses and taxes.

The IPO includes an employee reservation worth up to Rs 1.50 crore. Of the net offer, up to 50 per cent is reserved for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and at least 35 per cent for retail investors. Up to 60 per cent of the QIB portion can be allotted to anchor investors.

What Molbio Diagnostics Actually Makes

Incorporated in October 2000, Molbio Diagnostics develops molecular diagnostic devices for testing outside conventional laboratories. Its flagship Truenat platform is a battery-operated, portable polymerase chain reaction (PCR) system that delivers test results in about an hour using the Trueprep sample-preparation device and the Truelab analyser.

As on March 31, 2026, the company offered 43 diagnostic assays covering 30 diseases, including tuberculosis (TB), Covid-19, hepatitis B and C, HIV and HPV. According to the RHP, Truenat is the only rapid molecular TB test developed by an Indian company and one of only two such tests globally endorsed by the World Health Organization (WHO) for initial TB diagnosis and rifampicin resistance detection. The company has sold more than 12,500 devices across over 90 countries.

Molbio Diagnostics has also expanded into medical imaging and digital pathology through acquisitions. It owns a 65.47 per cent stake in Prognosys Medical Systems, acquired a controlling stake in California-based OptraScan Inc in November 2025, holds an associate stake in Chayagraphics (India), and collaborates with UE Lifesciences for breast health screening devices.

Molbio Diagnostics Financial Performance

Molbio Diagnostics reported revenue from operations of Rs 1,445.70 crore in FY26, up 41.70 per cent from Rs 1,020.40 crore in FY25. Net profit rose 14.80 per cent to Rs 166.60 crore, while earnings before interest, taxes, depreciation and amortisation (Ebitda) increased to Rs 328.24 crore from Rs 256.64 crore a year earlier. However, the Ebitda margin narrowed to 22.56 per cent from 24.97 per cent due to higher employee and other operating expenses. 

Excluding research and development (R&D) expenses, the Ebitda margin stood at 28.57 per cent, as against 31.64 per cent in FY25. Basic earnings per share (EPS) improved to Rs 14.77 in FY26 from Rs 12.87 a year ago. Return on net worth declined to 14.55 per cent from 15.23 per cent, while return on capital employed (RoCE) fell to 17.55 per cent from 20.98 per cent. Net worth increased to Rs 1,308.78 crore from Rs 967.29 crore, and the net asset value per share stood at Rs 101.51 as of March 31, 2026.

The company’s total debt more than tripled to Rs 412.64 crore in FY26 from Rs 123.16 crore a year earlier, mainly due to Rs 224.77 crore of fresh long-term borrowings.

The company’s international business weakened during the year. Overseas revenue fell to Rs 139.04 crore from Rs 197.14 crore, reducing its share of total revenue to 9.6 per cent from 19.3 per cent. Growth was driven by the domestic market, where revenue from diagnostic test kits rose 41.6 per cent to Rs 1,034.82 crore. Revenue from devices, however, remained largely unchanged at Rs 203.28 crore despite device sales increasing to 2,524 units from 2,180 units. Cash and cash equivalents rose to Rs 355.53 crore at the end of FY26 from Rs 114.75 crore a year earlier, supported by higher borrowings and improved collections.

Molbio Diagnostics IPO objectives

Molbio Diagnostics plans to use Rs 105.54 crore from the fresh issue to set up a R&D facility and a Centre of Excellence through its subsidiary Bigtec. The company plans to use another Rs 72.28 crore to buy plant, machinery and equipment for its manufacturing units in Goa and Visakhapatnam, and the remaining proceeds for general corporate purposes.

Who Owns Molbio Diagnostics?

The promoter group owns a 46.65 per cent stake in Molbio Diagnostics. Exxora Trading LLP is the largest shareholder with a 41.23 per cent stake, while promoter Dr Chandrasekhar Bhaskaran Nair and his wife jointly hold another 5.42 per cent.

Among institutional investors, Temasek-backed V Sciences Investments owns 8.93 per cent, while Motilal Oswal Group-backed India Business Excellence Fund III holds 12.66 per cent before the IPO. Other major shareholders include Gopalkrishna Mangalore Kini with a 6.73 per cent stake, and J Guru Dutt and Gopalakrishna Sampathgiri, who each hold around 5.4 per cent jointly with their family members.

Molbio Diagnostics IPO Lead Managers And Registrar

Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India and Motilal Oswal Investment Advisors are the book-running lead managers to the IPO, while KFin Technologies is the registrar. However, Motilal Oswal Investment Advisors will act only as the marketing lead manager because its group entity, India Business Excellence Fund III, is a selling shareholder in the offer, thus leading to a conflict of interest.