Molbio Diagnostics IPO Allotment Draws Focus as GMP Rises

Molbio Diagnostics’ ₹939.70-crore initial public offering moved to the allotment stage on Thursday after the issue received bids worth more than 70 times the shares on offer, putting investor attention on allotment status and the expected listing on August 17.

The IPO was subscribed 70.26 times on the final day of bidding, according to NSE data cited by Mint and other market reports. The basis of allotment was scheduled to be finalised on August 13, while successful applicants were expected to receive shares in their demat accounts on August 14.

Molbio Diagnostics had fixed the IPO price at ₹807 per share. The company’s issue raised about ₹939.70 crore, comprising a fresh issue and an offer for sale, according to its offer documents and current IPO coverage.

Grey market activity has also become a focus ahead of the listing. Mint reported a grey market premium of ₹156 on August 13, implying an indicative price of ₹963 and a premium of about 19.3 per cent over the IPO price. Grey market premiums are unofficial and can change before listing, so they do not guarantee the actual opening price.

Other market trackers reported lower GMP levels, showing why the grey market figure should be treated as an indication rather than a confirmed listing forecast. Economic Times reported a GMP of about ₹130 in its latest update, equivalent to a potential premium of roughly 16 per cent over the ₹807 issue price.

For investors waiting for allotment, the registrar is KFin Technologies. Applicants can use their PAN, demat account number or application number to check whether shares have been allotted.

On the KFin Technologies portal, investors need to select Molbio Diagnostics from the IPO list, choose the preferred identification method, enter the required details and captcha, and submit the request. The allotment result will show the number of shares, if any, allocated to the applicant.

Investors can also check allotment information through the stock exchanges. NSE's IPO verification system allows investors to check application details using a PAN or application number and provides allotment information supplied by the registrar.

For applicants who do not receive an allotment, the blocked application amount is expected to be released during the refund and unblocking process. Applicants who receive shares are expected to see the securities credited to their demat accounts before the scheduled listing.

The heavy subscription means allotment chances are likely to be more competitive across investor categories. The IPO's draft prospectus provides for allocation among qualified institutional buyers, non-institutional investors, retail investors and eligible employees under the applicable issue structure.

Molbio Diagnostics develops molecular diagnostic products and is known for its Truenat platform. The company was incorporated in Goa in 2000 and later converted into a public limited company as it prepared for the public offering, according to its draft prospectus.

The company has positioned its diagnostic technology around decentralised and point-of-care testing, allowing molecular tests to be conducted closer to patients rather than relying entirely on central laboratories. Its IPO therefore attracted attention not only because of the issue size but also because of the company's position in India's diagnostics market.

The next key date for investors is August 14, when shares are expected to be credited to successful applicants and funds released for unsuccessful applicants. Molbio Diagnostics is scheduled to make its stock-market debut on August 17.

The final listing price will depend on market conditions and investor demand at the time of listing. The current GMP can provide a market signal, but it remains unofficial and should not be treated as a guaranteed return.