Molbio Diagnostics share price: The shares of Molbio Diagnostics were off to a firm start on Monday, August 17, as they listed at a 21 per cent premium on Dalal Street.
The initial public offer ( IPO ) price for Molbio Diagnostics was ₹807.
Molbio Diagnostics share price opened at ₹980 on both BSE and National Stock Exchange (NSE), a premium of 21.44 per cent above the issue price .
Shivani Nyati Head of Wealth, Swastika Investmart, said that Molbio Diagnostics' leadership in molecular diagnostics, expansion-led growth strategy and attractive industry prospects support the investment case in the counter.
Ahead of its debut today, Molbio Diagnostics IPO GMP was ₹120, suggesting 15 per cent listing pop.
Molbio Diagnostics share price: The shares of Molbio Diagnostics were off to a firm start on Monday, August 17, as they listed at a 21 per cent premium on Dalal Street. The initial public offer ( : The shares of Molbio Diagnostics were off to a firm start on Monday, August 17, as they listed at a 21 per cent premium on Dalal Street. The initial public offer ( IPO ) price for Molbio Diagnostics was ₹807.
Molbio Diagnostics share price opened at ₹980 on both BSE and National Stock Exchange (NSE), a premium of 21.44 per cent above the issue price .
Shivani Nyati Head of Wealth, Swastika Investmart, said that Molbio Diagnostics' leadership in molecular diagnostics, expansion-led growth strategy and attractive industry prospects support the investment case in the counter. The listing beat expectations as signalled by the grey market premium (GMP). Ahead of its debut today, Molbio Diagnostics IPO GMP was ₹120, suggesting 15 per cent listing pop.
CHECK Dhoot Transmission Share Listing Price "While the listing valuation remains reasonable relative to peers, investors should remain disciplined following the sharp initial gain. We maintain a positive view with a stop-loss of ₹900," she said.
Molbio Diagnostics IPO details
It plans to use the funds from fresh proceeds on capital expenditure for R&D facilities and Centre of Excellence, investment in plant and machinery for Goa and Visakhapatnam facilities, along with general corporate purposes. The ₹940 crore Molbio Diagnostics IPO was a mix of fresh issue of shares worth ₹200 crore and an offer for sale of ₹739.70 crore. The mainboard public offer was available for bidding from August 10 till August 12.
The price band for the offer was fixed at ₹768 to ₹807 apiece. Investors could apply for the IPO in lots of 18 shares or in multiples thereof.
According to data available on NSE, Molbio Diagnostics IPO garnered bids for 573.21 million shares as against 8.15 million shares on offer, resulting in a whopping 70.26 times bids.
The qualified institutional buyer (QIB) segment was subscribed the most at 186.39 times. Meanwhile, the non-institutional investor (NII) and retail quotas were booked 49.80 times and 12.96 times, respectively.
