Upcoming IPO: Temasek, MOPE-backed Molbio Diagnostics files DRHP with Sebi

According to the DRHP, the public offering comprises a fresh issue of equity shares aggregating up to ₹200 crore, and an offer for sale of up to 1.25 crore equity shares by the selling shareholders

Upcoming IPO: Temasek- and MOPE-backed diagnostics solutions provider Molbio Diagnostics is moving closer to going public. The company has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), to raise funds through an Initial Public Offering (IPO).

Molbio Diagnostics IPO details

According to the DRHP, the public offering comprises a fresh issue of equity shares aggregating up to ₹200 crore, and an Offer for Sale (OFS) of up to 1.25 crore equity shares by the selling shareholders.

 

From the promoters' group, Exxora Trading LLP and Dr. Chandrasekhar Bhaskaran Nair are participating in the OFS. Other shareholders participating in the OFS include Abdul Qadir Mohamed Theruvath, Chewbacca Services Limited, J. Guru Dutt, Gopalakrishna Sampathgiri, India Business Excellence Fund III, M. Ganesh Kamath, M.A. Rohit, M.A. Sharath, M.A. Usha Rani, Sangeetha M. Kini, Shaheeda Abdul Kader, Shruthi G. Kini, Sujay Limited, V Sciences Investments Pte. Ltd., and Vivek Devaraj.

 

KFin Technologies serves as the registrar for the public issue, while the book-running lead managers are Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Motilal Oswal Investment Advisors Limited.

 

Molbio Diagnostics proposes to utilise ₹99.3 crore from the net proceeds of the fresh issue towards funding capital expenditure for setting up infrastructure for an R&D facility, a Center of Excellence, and connected office space. The company will deploy ₹73.5 crore towards funding capital expenditure for the purchase of plant, machinery, and other equipment for its Goa Unit I, Goa Unit II, and Visakhapatnam Unit. The remaining amount will be used for general corporate purposes. 

 

Shares proposed through the DRHP are proposed to be listed on National Stock Exchange of India (NSE), and BSE.

  About Molbio Diagnostics

Incorporated in 2000, Molbio Diagnostics is an innovative point-of-care (POC) diagnostics company focused on expanding access to accurate, rapid, and cost-effective healthcare technologies to diagnose both infectious and non-communicable diseases. The company has developed its ‘Truenat’ platform, which is a portable polymerase chain reaction (PCR) solution designed to function in resource-limited settings. Since it is battery-operated, it enables decentralized diagnosis within an hour.    As of March 31, 2025, Truenat was patented in more than 100 countries for the diagnosis of a range of infectious and non-communicable diseases. By the same date, the company offered molecular testing for 30 diseases, including tuberculosis (TB), COVID, Hepatitis B and C, Human Immunodeficiency Virus (HIV), and Human Papillomavirus (HPV), supported by a total of 42 assays. Molbio’s installed production capacity as of March 31, 2025, was 3,600 devices per annum and 3.9 crore ‘Truenat’ test kits per annum.