Overview
- The IPO opened with a price band of Rs 768–807 per share and was 83% subscribed after the first day on Monday, with QIB demand fully filled and retail investors at 77% and NIIs at 73%.
- Molbio allocated about Rs 281.5 crore to 33 anchor investors at the upper band and the unofficial grey‑market premium around Rs 127 implies a possible listing gain near 15.7% over Rs 807, though grey‑market prices are not guaranteed.
- The company reported FY26 revenue of roughly Rs 1,455 crore and a net profit of about Rs 164 crore and would command a post‑issue market value near Rs 9,300 crore at the upper band, with brokerages pricing FY26 P/E in the mid‑50s.
- Fresh proceeds of about Rs 200 crore are earmarked for R&D and a Centre of Excellence (about Rs 106 crore) and for plant and machinery in Goa and Visakhapatnam (about Rs 72 crore), while a large offer for sale will let existing investors exit.
- Key risks flagged by brokers include heavy reliance on government and aid customers, roughly 70% dependence of kit revenue on tuberculosis testing, and a long cash conversion cycle that could pressure working capital as the company scales.