Molbio Diagnostics IPO: What are your odds of allotment; check status & fresh GMP

Molbio Diagnostics is likely to finalise the basis of allotment of its shares on Thursday, August 13. Applicants are expected to receive messages, alerts or emails regarding allotment and the debit of funds shortly thereafter. The point-of-care molecular diagnostics company received a strong response from investors during the three-day bidding period.

The IPO of Molbio Diagnostics was open for subscription between August 10 and August 12. The company offered its shares in the price band of Rs 768-807 per share, with a lot size of 18 equity shares. The company raised around Rs 940 crore through the public issue.

The issue received strong demand across investor categories and was subscribed 70.26 times overall with more than 26.85 lakh applications valuing for more than Rs 46,200 crore. The QIB portion was subscribed over 186.39 times, while the NII portion was booked 49.80 times and retail portions a demand for 12.96 times during the bidding.

Based on the bidding, here are the odds of allotment for IPO of Molbio Diagnostics:

• Big HNI category: 1 investor out of 10  investors will get 238 shares (Probability: 10 per cent)
• Small HNI category: 1 investor out of 56 investors will get 252 shares (Probability: 1.78 per cent)
• Retail category: 2 investor out of 21 investors will get 18 shares. (Probability: 9.52 per cent)

The grey market premium (GMP) of Molbio Diagnostics has remained firm following the strong subscription response. The stock was last commanding a GMP of around Rs 155-160 per share, indicating a potential listing premium of about 19-20 per cent over the upper end of the issue price. GMP, however, is an unofficial indicator and does not guarantee listing gains.

Molbio Diagnostics is a Goa-based point-of-care molecular diagnostics company best known for its Truenat platform. The company develops and manufactures portable molecular diagnostic solutions designed to enable testing closer to patients and healthcare facilities. Its products have a presence across domestic and international markets.

Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies are the book running lead managers for Molbio Diagnostics IPO and Kfin Technologies Ltd is the registrar of the issue. Refund of the bidding amount shall be done on Friday, August 14 or over the weekend. Its shares shall be listed on both BSE Ltd and NSE on August 17, Monday. 

Investors, who had bid for the issue of Molbio Diagnostics, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Molbio Diagnostics Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘MOLBIO’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.