Mumbai: Molbio Diagnostics Limited, backed by Temasek and Motilal Oswal Private Equity (MOPE), has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (Molbio Diagnostics IPO).
The Molbio Diagnostics IPO will include a fresh issue of equity shares worth up to ₹200 crore, alongside an Offer for Sale (OFS) of 1.25 crore equity shares by existing shareholders.
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Molbio Diagnostics IPO Structure and Utilization of Proceeds
According to the DRHP, proceeds from the Molbio Diagnostics IPO fresh issue will be allocated as follows:
- ₹99.3 crore for capital expenditure towards infrastructure for a new R&D facility, a Center of Excellence, and connected office space.
- ₹73.5 crore for capital expenditure on plant, machinery, and other equipment at Goa Unit I, Goa Unit II, and the Visakhapatnam Unit.
- Remaining funds for general corporate purposes.
Truenat Platform and Product Portfolio
Molbio Diagnostics, founded in 2000, is known for its ‘Truenat’ platform—a portable, battery-operated polymerase chain reaction (PCR) system patented in over 100 countries.
The platform enables point-of-care (POC) molecular testing and decentralized diagnosis within one hour. It supports testing for more than 30 diseases, including tuberculosis, COVID-19, HIV, HPV, and Hepatitis B & C.
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Manufacturing Facilities and Subsidiary Operations
The company operates five manufacturing units: two in Goa, one in Visakhapatnam (Andhra Pradesh), and two in Bengaluru.
The Goa, Visakhapatnam, and Peenya (Bengaluru) facilities manufacture devices and test kits, while its Machohalli (Bengaluru) facility, operated by subsidiary Prognosys Medical Systems, produces radiology products such as ultraportable X-ray systems, mobile digital X-ray systems, and C-arm systems.
As of March 31, 2025, Molbio Diagnostics had an installed capacity of 3,600 devices and 3.9 crore Truenat test kits annually.
Financial Performance
For FY25, Molbio Diagnostics reported revenue from operations of ₹1,020 crore, marking a 21.98% year-on-year growth compared to FY24. Profit after tax stood at ₹138.5 crore.
Promoters and Lead Managers
Promoters of the company include Sriram Natarajan, Chandrasekhar Bhaskaran Nair, Sangeetha Sriram, Shiva Sriram, Sowmya Sriram, and Exxora Trading LLP.
Book Running Lead Managers for the Molbio Diagnostics IPO are Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Motilal Oswal Investment Advisors Limited.
