Molbio Diagnostics Rises Above 20% Upper Circuit, Up 87% Since Listing

The shares of Molbio Diagnostics saw continuation of the impressive performance trend since listing on Thursday, September 10, registering a rise in the 20% upper circuit and scaling to a new high. 

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The stock hit an intra-day high of ₹1,509.70 on the BSE. With this move, Molbio Diagnostics is up about 87% from its listing price of ₹807 per share, in less than a month after becoming listed on the stock exchange. 

This jump follows reports of turnaround in the quarterly performance and higher volume of Truenat test kits. 

Profit of ₹52.74 crore in Q1 FY27 

Consolidated profit of Molbio Diagnostics for the first quarter of FY27 stands at ₹52.74 crore, against a loss of ₹23.94 crore in the same quarter last year. 

The total income increased to ₹411.48 crore from ₹100.47 crore in Q1 FY26. 

The volume of Truenat test kit in Q1 FY27 was 62.4 lakh units, while it stood at 7.9 lakh units in the comparable period of the previous year. 

The reason behind the improved quarterly performance was stated to be growth in consumption of Truenat test kits. 

Stock Had Listed at 21% Premium 

Molbio Diagnostics made its stock market debut on August 17 after pricing its IPO at ₹807 per share, the upper end of its ₹768-807 price band. 

The shares opened at ₹980 on both the BSE and NSE, representing a 21.43% premium to the issue price. 

On the BSE, the stock subsequently climbed to ₹1,002.05 during its debut session, taking its gain over the IPO price to 24.16%. 

Following the listing gains, Molbio Diagnostics had a market capitalisation of ₹10,875.77 crore. 

The rally has continued since then, culminating in Thursday’s 20% upper circuit at ₹1,509.70 and taking the stock’s overall gain from the IPO price to nearly 87%. 

₹940 Crore IPO Was Subscribed Over 70 Times 

Molbio Diagnostics raised around ₹940 crore through its public offering, which received strong investor demand. 

The issue was subscribed 70.26 times by the final day of bidding. 

The IPO consisted of a fresh issue worth up to ₹200 crore and an offer for sale of as many as 91.66 lakh shares by existing shareholders. 

Of the fresh proceeds, ₹106 crore has been earmarked for capital expenditure related to infrastructure for an R&D facility, a Centre of Excellence and associated office space. 

Another ₹72 crore is intended for the purchase of plant, machinery and other equipment for the company’s Goa Unit I, Goa Unit II and Visakhapatnam facility. The remaining proceeds are meant for general corporate purposes. 

Molbio’s Truenat Platform Covers Around 30 Diseases 

Established in 2000, Goa-based Molbio Diagnostics operates in the point-of-care diagnostics segment and provides molecular testing for around 30 diseases. 

These include tuberculosis, COVID-19, HIV, HPV and Hepatitis B and C. 

Its flagship Truenat platform is a battery-operated point-of-care PCR system patented in more than 100 countries. The platform is designed for decentralised testing, including in resource-limited settings, and can provide diagnostic results within an hour. 

For Thursday’s session, however, the focus remained on the stock’s rapid post-listing rise. From an issue price of ₹807 in August to an all-time high of ₹1,509.70 on September 10, Molbio Diagnostics has gained nearly 87% since its IPO.