Temasek-backed Molbio Diagnostics files IPO papers with SEBI
What's the story
Molbio Diagnostics, a Goa-based point-of-care molecular diagnostics platform operator, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company, backed by Temasek Holdings and Motilal Oswal Private Equity, plans to raise ₹200 crore through a fresh issue and the rest through an offer-for-sale route.
Share sale
OFS details and major shareholders
The IPO will see existing shareholders, including promoters and investors, offload up to 1.25 crore equity shares through an offer-for-sale (OFS). Promoters Exxora Trading LLP and Chandrasekhar Bhaskaran Nair, who hold a 46.65% stake in the company, will sell 29.12 lakh shares via OFS. Investors such as V Sciences Investments and India Business Excellence Fund III will sell their stakes through this route.
Company growth
Company valuation and recent share transaction
Founded in 2000, Molbio Diagnostics has witnessed significant growth over the years. The company's last share transaction was on July 14, 2025, when Shruthi G Kini transferred 9,175 shares to Navin Mahavirprasad Dalmia at ₹5,450 per share. After a bonus issue in July 2025, the adjusted issue price was set at ₹1,090 per share. At this price point, Molbio Diagnostics is valued at ₹12,490.8 crore.
Product innovation
Truenat platform's significance and market position
Molbio Diagnostics has developed the Truenat platform, a novel point-of-care polymerase chain reaction (PCR) system that provides molecular testing for 30 diseases. The company operates in an oligopolistic market with high entry barriers. Its Truenat platform for TB diagnosis is the only one from an Indian company and one of only two rapid molecular tests globally.
Fund utilization
Proposed use of funds from fresh issue
Molbio Diagnostics plans to use ₹99.37 crore from the fresh issue for setting up an R&D facility, a Center of Excellence, and associated office space. The company also intends to spend ₹73.6 crore on purchasing certain plant, machinery, and other equipment for its Goa Unit I & II and Visakhapatnam Unit. The remaining funds will be used for general corporate purposes.