Molbio Diagnostics IPO

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Molbio Diagnostics IPO details

To be announced
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About Molbio Diagnostics

Molbio Diagnostics Limited is an Indian medical diagnostics company incorporated in October 2000 and headquartered in Goa. It was founded by Sriram Natarajan and Dr Chandrasekhar Bhaskaran Nair, along with the promoter group comprising Sangeetha Sriram, Shiva Sriram, Sowmya Sriram and Exxora Trading LLP. The company operates in the point-of-care diagnostics segment, focusing on rapid, accurate and cost-effective testing solutions. Its core offering is the proprietary Truenat platform, a portable and battery-operated molecular diagnostic system used for detecting infectious and select non-communicable diseases. The platform supports testing for multiple diseases, including tuberculosis, COVID-19, hepatitis, HIV and HPV.

Molbio designs, manufactures and sells diagnostic devices, test kits and related consumables, supported by in-house research and development and multiple manufacturing facilities in India. Its products are supplied to government health programs, international aid agencies, hospitals and diagnostic laboratories in India and overseas. The company’s business model integrates innovation, manufacturing and large-scale public health deployment. Its key strengths include indigenous technology, a diversified test menu, global regulatory acceptability and strong presence in public healthcare systems. 

Financials of Molbio Diagnostics

Utilisation of proceeds

Purpose INR crores (%)
R&D facility, Centre of Excellence and office infrastructure 99.37 (49.69%)
Plant, machinery and equipment for manufacturing units 73.6 (36.80%)
General corporate purposes 27.03 (14%)

Strengths

  • Proprietary TruNAT platform enables rapid, point-of-care molecular diagnostics.
  • Strong footprint in government and public health procurement programs.
  • Wide disease coverage including TB, COVID-19, HIV, hepatitis and HPV.
  • In-house R&D supported by integrated manufacturing capabilities.
  • Global presence with products deployed across multiple countries.

Risks

  • Heavy dependence on government and international aid agency funding.
  • High revenue concentration from tuberculosis-related test kits.
  • A limited number of large customers contribute a significant share of revenues.
  • Regulatory delays may impact the commercialisation of new diagnostic tests.
  • Demand fluctuations are linked to public health policies and funding cycles.