Molbio Diagnostics Limited IPO
ListedMainboard
70.27×
Subscribed
Price band
₹807 – ₹807
Issue size
₹939.7 Cr
Open – close
10 Aug 2026
to 12 Aug 2026
Listing
17 Aug 2026
Listing gain
+21.44%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Caution5 of 7 dimensions read
The filing raises real questions — 3 of 7 signals read negative
Strength45/100
- Strong revenue growthRevenue compounding at 30.1% across the reported years
- Profit growth outpaces salesPAT up 61.6% a year against revenue at 30.1% — check whether that is operating leverage or a one-off before extrapolating it
- Low return on equityROE of 8.4% — the business earns little on the capital it already has
- Conservative balance sheetDebt/equity of 0.32×
- Qualified audit opinionEmphasis of Matter paragraph regarding fraud and provision of ₹ 199.00 Million against earnest money deposits (EMD) of Prognosys Medical Systems Private Limited. Qualifications/Mod
- 1 high-severity disclosureEmphasis of Matter paragraph regarding fraud and provision of ₹ 199.00 Million against earnest money deposits (EMD) of Prognosys Medical Systems Private Limited. Qualifications/Mod
- Institutions bid heavilyQIB portion subscribed 186.39×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens10 Aug 2026
- Closes12 Aug 2026
- Listing17 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB186.39x
Non-institutionalNII / HNI49.80x
Big NIIabove ₹10L50.82x
Small NII₹2L – ₹10L47.76x
Retail individualRII12.97x
Employee13.28x
26,85,091 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 12 Aug 2026.
Chance of allotment
Retail12.97× subscribed
~1 in 13
Retail is 12.97× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 13 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII49.80× subscribed
~1 in 49.8
HNI is 49.8× subscribed. This category is allotted proportionately, so a bid receives roughly 1/49.8 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹807 – ₹807
Total issue size₹939.7 Cr
Listing atMainboard
Company & valuation
Return on equity8.39%
Debt / equity0.32×
ROCE17.55%
RoNW14.55%
PAT Margin11.28%
EBITDA Margin22.56%
NAV101.51
ISININE869T01028
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 58,12,862 | 49.91% |
| Anchor Investor | 34,87,717 | 29.95% |
| QIB (Ex. Anchor) | 23,25,145 | 19.96% |
| NII (HNI) | 17,43,860 | 14.97% |
| bNII > ₹10L | 11,62,573 | 9.98% |
| sNII < ₹10L | 5,81,287 | 4.99% |
| Retail | 40,69,005 | 34.94% |
| Employee | 20,519 | 0.18% |
Total issue 1,16,46,246 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹14,5261 lot · 18 sh
Retail (Max)₹1,88,83813 lots · 234 sh
S-HNI (Min)₹2,03,36414 lots · 252 sh
S-HNI (Max)₹9,87,76868 lots · 1,224 sh
B-HNI (Min)₹10,02,29469 lots · 1,242 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted34,87,717
Anchor portion₹281.46 Cr
Bid date07 Aug 2026
Lock-in ends (50%)11 Sept 2026
Lock-in ends (rest)10 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Funding capital expenditure towards the setting up of infrastructure for a research and development facility and Center of Excellence which will be operated by our wholly-owned Subsidiary, Bigtec and connected office space for our Company, Subsidiaries and Associate₹105.54 Cr
- 02Funding capital expenditure towards the purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit₹72.28 Cr
- 03General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 32.1 | — | 3.1 | 83.2 | — |
| 2025 | 43.2 | — | 5.2 | 88.4 | — |
| 2026 | 54.3 | — | 8.1 | 96.5 | — |
Revenue CAGR 30.1%PAT CAGR 61.6%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Auditor qualificationhigh
Emphasis of Matter paragraph regarding fraud and provision of ₹ 199.00 Million against earnest money deposits (EMD) of Prognosys Medical Systems Private Limited. Qualifications/Modifications under section Other Legal and Regulatory Requirements for years ended March 31, 2026, March 31, 2025 and Marc
mediumRevenue is highly concentrated with government and international aid agencies, which accounted for 84.56%, 87.83% and 91.60% of revenue from finished goods sales in Fiscals 2026, 2025 and 2024, respectively.
mediumRevenue is highly concentrated with the top 10 customers, which accounted for 83.26%, 83.62% and 78.54% of revenue from finished goods sales in Fiscals 2026, 2025 and 2024, respectively.
mediumRevenue from the sale of diagnostic test kits for tuberculosis (TB) accounted for 70.20%, 69.11% and 62.40% of revenue from finished goods sales in Fiscals 2026, 2025 and 2024, respectively.
Positives the filing discloses (2)
Low leverage
Debt-to-equity of 0.32x.
Strong revenue growth
Restated revenue CAGR of 30.1%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Molbio Diagnostics Limited IPO subscribed?
Molbio Diagnostics Limited is subscribed 70.27× overall (QIB 186.39×, NII 49.80×, retail 12.97×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the Molbio Diagnostics Limited IPO?
The retail portion is subscribed 12.97×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 13. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.