Now Reading: World Bank IFC, HDFC AMC back Molbio Diagnostics Rs 281 crore anchor round
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World Bank IFC, HDFC AMC back Molbio Diagnostics Rs 281 crore anchor round
World Bank IFC, HDFC AMC back Molbio Diagnostics Rs 281 crore anchor round
The World Bank Group's International Finance Corporation has invested Rs 20 crore in Molbio Diagnostics' anchor round, marking its return to India's mainboard IPO market after five years. The Goa-based point-of-care diagnostics…
The Story in Brief
The World Bank Group's International Finance Corporation has invested Rs 20 crore in Molbio Diagnostics' anchor round, marking its return to India's mainboard IPO market after five years. The Goa-based point-of-care diagnostics company raised Rs 281 crore from anchor investors on Friday ahead of its IPO, which opens on August 10 and closes on August 12.
HDFC Mutual Fund led the anchor book with Rs 35 crore across four schemes. The Rs 940 crore IPO includes a fresh issue of Rs 200 crore and has received positive recommendations from brokerages like BP Wealth and SBI Securities, which cited the company's revenue CAGR of 31.5% between FY24 and FY26 and reasonable valuation.
The Indian Opinion
Media narratives around this IPO will likely focus on the IFC's return as a seal of approval. But the real story is the sheer volume of secondary sales at Rs 807 per share, where existing investors like 360 One and Motilal Oswal exited partially. Retail investors should watch whether the IPO's post-listing performance justifies the 56.5 times PE valuation, given that the company's profit growth has lagged behind revenue expansion.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
