Molbio Diagnostics IPO kicks-off today: Should you apply? Check price band, GMP & reviews

The initial public offering (IPO) of Molbio Diagnostics kicks-off for subscription on Monday, August 10. The diagnostics company is offering its shares in the range of Rs 768-807 apeice and investors can apply for minimum 18 equity shares and its multiples thereafter. The issue will close for subscription Wednesday, August 12.

The Rs 940 crore-IPO of Molbio Diagnostics includes a fresh share sale of Rs 200 crore and an offer-for-sale (OFS) of up to 91,66,000 equity shares worth Rs 740 crore. The net proceeds from the fresh issue shall be utilized towards  funding capital expenditure towards the setting up of infra for research and development facility, machinery and other equipment and general corporate purposes.

Incorporated in 2000, South Goa-based Molbio Diagnostics is a global point-of-care (PoC) molecular diagnostics firm engaged in the research, development, manufacturing, and commercialization of rapid diagnostic solutions for infectious and non-communicable diseases. It has developed its proprietary 'Truenat' platform, a portable, battery-operated PCR-based molecular diagnostics system.

Ahead of its IPO, Molbio Diagnostics raised Rs 281.46 crore from 33 anchor investors as it allocated 34,87,717 equity shares for Rs 807 apiece. Its anchor book included names like HDFC MF, Goldman Sachs, Kotak MF, International Finance Corporation, ICICI Prudential MF, Blackrock Global Funds, Nippon MF, Mirae Asset MF, Whiteoak Capital MF, Tata MF, Axis MF, Bajaj Life Insurance and more.

Molbio Diagnostics reported a net profit of Rs 164.14 crore, with a revenue of Rs 1,455.17 .70 crore for the financial year ended on March 31, 2026. It clocked a net profit of Rs 138.58 crore with a revenue of Rs 1,027.94 crore for the financial year 2024-25. At the current valuations, Molbio Diagnostics commands a market capitalization of close to Rs 9,300 crore.

Molbio Diagnostics has reserved 50 per cent of the net offer for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of allocation. Retail investors will get 35 per cent of the reservation in the issue. Last heard, the company was commanding a grey market premium of Rs 130 apeice, suggesting a listing pop of 16 per cent for the investors.

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. Shares of the company shall be listed on both BSE Ltd and NSE on August 17, Monday. Here's what a host of brokerage firms say about the IPO of Molbio Diagnostics:

SBI Securities
Rating: Subscribe for long-term
Molbio Diagnostics is a leading player in point-of-care molecular diagnostics supported by its proprietary WHO-endorsed Truenat platform. It has demonstrated healthy financial performance over FY24-26, with revenue, EBITDA and Adjusted PAT growing at a CAGR of 31.5 per cent, 17.2 per cent and 9.7 per cent, respectively. It is priced at an FY26 P/E of 56.5 times and EV/EBITDA of 28.5 times, said SBI Securities.

"The issue appears reasonably valued relative to its growth profile, profitability metrics, return ratios and established position in the diagnostics ecosystem. Growth going forward will be driven by assay expansion, increasing adoption of molecular diagnostics, international market penetration, and investments in R&D and manufacturing capabilities," it said with 'subscribe for long-term' tag.

Swastika Investmart
Rating: Subscribe
Valuations of Molbio are in line with the industry average, priced below listed peer average P/E of 64.9 times. The fresh issue will fund capacity expansion at the Goa and Visakhapatnam facilities Despite a sizeable OFS, the fresh proceeds are directed toward growth-oriented capital expenditure rather than debt reduction, said Swastika Investmart.

"Its strong leadership in the molecular diagnostics segment, supported by a scalable device-and-consumables business model. Favorable long-term outlook, backed by healthy return ratios, margin expansion, and structural industry growth," it added with a 'subscribe' rating.

BP Equities
Rating: Subscribe
While the business remains exposed to customer concentration, with 84.6 times of finished goods revenue derived from government agencies and international health institutions, its differentiated technology platform, recurring revenue model and high entry barriers support its premium positioning. We recommend a 'subscribe' rating with a long-term investment horizon," said BP Equities.

Master Capital Services
Rating: Subscribe for long-term
Molecular diagnostics is poised for strong growth, driven by POCT advances, personalised medicine and rising demand for early disease detection. In the favourable industry environment, Molbio Diagnostics is well positioned to benefit from the growing demand for molecular diagnostics through its proprietary Truenat platform, said Master Capital Services.

"Its strong competitive position is supported by R&D, a robust global patent portfolio, strategic acquisitions in radiology and digital pathology, six manufacturing facilities, and a presence in more than 90 countries, providing a strong foundation for future growth. Investors may consider the IPO as a potential long-term investment opportunity," it added with a 'subscribe' rating.

Ventura Securities
Rating: Subscribe
Molbio Diagnostics is a Goa-based molecular diagnostics firm known for its portable Truenat point-of-care platform, enabling rapid testing across multiple diseases. Its products are sold in over 90 countries, supported by a strong patent portfolio and WHO-endorsed tuberculosis testing technology. It is benefiting from the growing shift towards decentralised diagnostics and point-of-care testing, said Ventura.

Financially, Molbio delivered strong growth in FY26, driven by higher test-kit volumes and device sales, while maintaining healthy operating margins. Its recurring kit-led business model, R&D capabilities and global presence are key strengths. However, high customer concentration, particularly among government and aid agencies, remains a key risk, it added with a 'subscribe' rating.

Kunvarji Financial Services
Rating: Subscribe for long-term
"We recommend to subscribe this with medium to long term. Molbio Diagnostics is a leading point-of-care diagnostics firm, delivering rapid, affordable, and accessible healthcare solutions for infectious and non-communicable diseases. It has established a strong position in the molecular diagnostics segment, supported by a scalable device-and-consumables business model, said Kunvarji Financial.