Now Reading: Molbio Diagnostics IPO Opens August 10 At Rs 768-807 A Share
-
01
Molbio Diagnostics IPO Opens August 10 At Rs 768-807 A Share
Molbio Diagnostics will open its IPO for subscription from August 10 to 12, with a price band of Rs 768 to Rs 807 per share. Anchor allocation is scheduled for August 7.…
The Story in Brief
Molbio Diagnostics will open its IPO for subscription from August 10 to 12, with a price band of Rs 768 to Rs 807 per share. Anchor allocation is scheduled for August 7. Retail investors must bid for at least 18 shares and in multiples of 18. Up to 50 per cent of the issue is reserved for QIBs, at least 15 per cent for NIIs and 35 per cent for retail investors.
The offer includes a fresh issue of Rs 200 crore and an offer for sale of 91.66 lakh shares by existing shareholders. Molbio plans to use Rs 105.5 crore for a new R&D facility and Centre of Excellence, and Rs 72.2 crore for plant and equipment. Allotment is expected on August 13, with a possible BSE and NSE listing on August 17, subject to approvals.
The Indian Opinion
The easy narrative will be that a diagnostics company with R&D plans automatically makes for a strong IPO. That is not enough. Nearly half the offer consists of shares sold by existing holders, while the fresh funds have defined uses that investors can track. The issue price also needs to be judged against earnings, competition and execution, not the company’s healthcare label. The first useful test is whether Molbio deploys the Rs 177.7 crore earmarked for facilities and equipment as promised.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
