Molbio Diagnostics Raises ₹281.5 Cr from Anchor Investors Ahead of IPO
By Business Desk
Molbio Diagnostics secures ₹281.5 crore from 33 anchor investors, including Goldman Sachs & BlackRock, before its IPO opens on August 10. Learn more about the IPO details.
Molbio Diagnostics just secured ₹281.5 crore from 33 anchor investors, paving the way for its Initial Public Offering (IPO) opening on August 10.
Anchor Investor Details
- A total of ₹281.5 crore was raised through the anchor investor round.
- 33 anchor investors participated in this pre-IPO allocation.
- 34.87 lakh equity shares were allotted to these investors.
- Key participants included global firms like Goldman Sachs and BlackRock Global Funds, alongside major Indian mutual funds such as HDFC Mutual Fund, ICICI Prudential AMC, and Kotak Mahindra AMC.
The Goa-based point-of-care molecular diagnostics firm’s public issue is scheduled to run from August 10 to August 12. Shares for the IPO are priced within a range of ₹768 to ₹807.
IPO Structure & Fund Utilization
The overall IPO structure comprises two main components to raise capital.
- It includes a fresh issue of ₹200 crore.
- An offer for sale (OFS) component totals ₹739.7 crore.
The newly acquired funds are earmarked for several strategic initiatives to bolster the company’s operations and expansion.
- Molbio Diagnostics plans to establish a new Research and Development (R&D) center.
- Manufacturing facilities located in Goa and Visakhapatnam will undergo significant upgrades.
- General expenses will also be covered to support the company’s ongoing growth initiatives.