As part of the OFS, the selling shareholders include Exxora Trading LLP, Dr. Chandrasekhar Bhaskaran Nair, Abdul Qadir Mohamed Theruvath, and a few others.The company proposes to utilize the net proceeds from the fresh issue toward funding capex for setting up infrastructure for an R&D facility, a center of excellence, connected office space, and for the purchase of plant, machinery, and other equipment for its Goa and Visakhapatnam units.
Its ‘Truenat’ platform, patented in more than 100 countries, is a novel POC polymerase chain reaction (PCR) platform that can operate in resource-limited settings since it is battery-operated, facilitating decentralized diagnosis within an hour.
Molbio Diagnostics, incorporated in 2000, has five manufacturing facilities in India, of which two are in Goa, one in Visakhapatnam (Andhra Pradesh), and two in Bengaluru (Peenya and Machohalli).The facilities in Goa, Visakhapatnam, and Peenya (Bengaluru) are operated by Molbio and are dedicated to manufacturing devices and test kits, while the facility in Machohalli (Bengaluru), operated by its subsidiary Prognosys Medical Systems, is dedicated to manufacturing radiology products such as ultraportable X-ray systems, mobile digital X-ray systems, floor-mounted and ceiling-suspended X-ray systems, and C-arm systems.As of March 31, 2025, Molbio’s installed capacity was 3,600 devices per annum and 3,90,00,000 ‘Truenat’ test kits per annum.In FY25, Molbio Diagnostics registered revenue from operations of Rs 1,020 crore, recording a 21.98% growth over FY24. The FY25 profit after tax was Rs 138.5 crore.
Srram Natarajan, Chandrasekhar Bhaskaran Nair, Sangeetha Srram, Shiva Srram, Sowmya Srram, and Exxora Trading Llp are the promoters of the company.
Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
