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Molbio IPO Sees Huge Investor Demand
13 Aug
Summary
- Molbio's Rs 940 crore IPO was subscribed 70.26 times.
- Qualified Institutional Buyers showed massive interest, subscribing 186.39 times.
- Grey market premium suggests potential 20% listing gain.
The Rs 940-crore initial public offering (IPO) from Molbio Diagnostics is set to finalize its basis of allotment today, August 13. The issue experienced overwhelming demand, achieving an overall subscription rate of 70.26 times. Qualified Institutional Buyers were particularly enthusiastic, subscribing their allocated portion a significant 186.39 times.
The IPO, which opened on August 10 and closed on August 12, was priced between Rs 768 and Rs 807 per equity share. Currently, Molbio Diagnostics shares are trading at a grey market premium of Rs 154 over the upper price band, suggesting an estimated listing price of approximately Rs 961 and a potential listing gain of nearly 20 percent.
Prior to the public offering, Molbio Diagnostics successfully raised Rs 281.5 crore from anchor investors, including prominent names like Goldman Sachs, IFC, and BlackRock Global Funds, alongside numerous domestic mutual funds and life insurance companies.
The Rs 940-crore IPO includes a fresh issue of Rs 200 crore and an offer for sale of shares worth around Rs 739.7 crore. The company plans to utilize the fresh funds for establishing a research and development facility and for acquiring plant and machinery for its manufacturing units.
