Now Reading: Molbio Diagnostics IPO opens Aug 10 at Rs 768-807
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Molbio Diagnostics IPO opens Aug 10 at Rs 768-807
Goa-based Molbio Diagnostics will open its initial public offering on August 10 with a price band of Rs 768 to Rs 807 per share. The issue closes on August 12. The IPO…
The Story in Brief
Goa-based Molbio Diagnostics will open its initial public offering on August 10 with a price band of Rs 768 to Rs 807 per share. The issue closes on August 12. The IPO comprises a fresh issue of Rs 200 crore and an offer for sale of 91.66 lakh shares by existing shareholders including promoters and investors such as Temasek's subsidiary. Retail investors can apply for a minimum of 18 shares.
Ahead of the issue, anchor investors will get shares on August 7. Allotment is expected on August 13, with refunds and demat credits on August 14. The stock should list on August 17. In the grey market, Molbio shares are trading at a premium of Rs 180, hinting at a 22% listing gain. Kotak Mahindra Capital, IIFL Capital Services and Jefferies India are the book-running lead managers.
The Indian Opinion
The grey market is waving a 22% premium for Molbio Diagnostics, but seasoned retail investors know GMP is just noise. The company's real test lies in its plan to spend Rs 105.5 crore on an R&D centre and Rs 72.2 crore on plant machinery. Will these investments translate into faster growth in the competitive diagnostics space, or will they merely pad the balance sheet? Watch the August 17 listing for the market's first honest verdict.
Sources (2): timesnownews.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
