Molbio Diagnostics Files IPO Papers With Sebi, To Raise Funds For Expansion

Panaji: Goa-based Molbio Diagnostics Limited, supported by global investor Temasek and Motilal Oswal Private Equity, has filed draft documents with markets regulator Sebi to raise money through an Initial Public Offering (IPO).

As per the draft red herring prospectus (DRHP), the IPO will include a fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to 1.25 crore shares by existing shareholders.

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Use of proceeds

The company plans to spend around Rs 99.3 crore to build a new Research and Development (R&D) centre, a Centre of Excellence, and related office facilities. Another Rs 73.5 crore will be used to purchase new plant and machinery for its manufacturing units in Goa and Visakhapatnam. The remaining funds will go towards general corporate purposes, according to the company.

Company background

Founded in 2000, Molbio Diagnostics is a pioneer in point-of-care molecular diagnostics for over 30 diseases such as tuberculosis, COVID-19, HIV, HPV, and Hepatitis B & C.

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Its most popular innovation is the ‘Truenat’ platform, a battery-operated portable PCR machine that can deliver test results in less than an hour, even in areas with limited resources. The technology is patented in more than 100 countries.

Operations and growth

Molbio runs five manufacturing facilities – two in Goa, one in Visakhapatnam, and two in Bengaluru – producing devices, testing kits, and radiology equipment through its subsidiary Prognosys Medical Systems.

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As of March 31, 2025, the company had the capacity to produce 3,600 devices and 3.9 crore Truenat test kits annually. In FY25, Molbio reported revenue of Rs 1,020 crore, a 22 percent increase compared to the previous year. Its profit after tax stood at Rs 138.5 crore.

IPO managers

The IPO is being managed by Kotak Mahindra Capital, IIFL Capital Services, Jefferies India, and Motilal Oswal Investment Advisors as the book-running lead managers.