Molbio Diagnostics Shares Debut at 21% Premium Over IPO Price on BSE and NSE Molbio Diagnostics shares made a strong debut on the stock exchanges, listing at a 21% premium over their initial public offering (IPO) price on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The stock opened at Rs 980 per share on both exchanges, marking a 21.44% increase from the IPO price of Rs 807. This performance exceeded grey market expectations, which had anticipated a listing premium of around 15%. The Rs 939.70 crore IPO was priced at Rs 807 per share, comprising a fresh issue of 25 lakh shares valued at Rs 200 crore and an offer for sale (OFS) of 92 lakh shares worth Rs 739.70 crore. Kotak Mahindra Capital Company served as the book-running lead manager, while KFin Technologies Ltd. acted as the registrar. The company plans to utilize the IPO proceeds to expand its infrastructure and enhance its research and manufacturing capabilities. A significant portion of the funds, approximately Rs 125.12 crore, is allocated for capital expenditure, including the development of a research and development facility, a Centre of Excellence, and related office infrastructure. Another Rs 80.81 crore is earmarked for plant, machinery, and equipment upgrades at its manufacturing facilities in Goa and Visakhapatnam. The remaining proceeds will be used for general corporate purposes, with an estimated total utilization of Rs 205.93 crore from the IPO. Established in October 2000, Molbio Diagnostics Ltd. is a global molecular diagnostics company specializing in the development, manufacturing, and commercialization of rapid diagnostic solutions for infectious and non-communicable diseases.#national_stock_exchange #bombay_stock_exchange #kfin_technologies_ltd #molbio_diagnostics #kotak_mahindra_capital_company
