‹ StopDownMolbio Diagnostics

Molbio Diagnostics

Portable lab-grade tests for infectious diseases like TB

GoaFounded 2000DiagnosticsListedWebsite ↗LinkedIn ↗X ↗Careers ↗
₹939.7 CrIPO sizeAug 2026
₹980Listing price vs ₹807 issue price17 Aug 2026
70.27xIPO subscriptionAug 2026
₹1,445.69 CrOperating revenueFY2026
90+Countries where Truenat is used2026
◎The short version9 key points
  • Molbio makes Truenat, a portable machine that runs lab-quality germ tests, such as for TB, away from big labs.The Hindu BusinessLineEntrackr
  • It earns from selling the machines and, more so, the test kits used with them.The Hindu BusinessLine
  • Buyers include government health programmes, aid agencies, hospitals and labs.The Hindu BusinessLine
  • It is based in Verna, Goa, and its subsidiary Bigtec Labs does research.The Hindu BusinessLineEntrackr
  • Its revenue was about ₹1,020 crore in FY25, with a profit after tax of ₹138 crore.Entrackr
  • SEBI cleared its IPO in December 2025.Entrackr
  • It raised ₹281.5 crore from 33 anchor investors on 7 August 2026, before the ₹939.7 crore IPO.MoneycontrolEntrackr
  • Shares listed on 17 August 2026 at ₹980, about 21% above the ₹807 issue price.EntrackrNDTV Profit
  • In early October 2026 a Motilal Oswal fund sold about 2% of the company for ₹306 crore, and HDFC Mutual Fund bought about 2%.The Hindu BusinessLine
↗Timeline8 events
2021
May 2021

Series B: $19.2M from Motilal Oswal

The Hindu BusinessLine
2022
Sep 2022

Growth round: $85M from Temasek and Motilal Oswal Alternates

The Hindu BusinessLine
2025
Sep 2025

Reported FY25 revenue of about ₹1,020 crore and profit of ₹138 crore

Entrackr
Dec 2025

SEBI cleared the IPO

Entrackr
2026
Aug 2026

Raised ₹281.5 crore from 33 anchor investors

Moneycontrol
Aug 2026

IPO opened on 10 August, price band ₹768 to ₹807

Moneycontrol
Aug 2026

Listed at ₹980, about 21% above issue price

EntrackrNDTV ProfitFinancial Express
Oct 2026

Motilal Oswal fund sold about 2% for ₹306 crore; HDFC Mutual Fund bought about 2%

The Hindu BusinessLine
₹Funding4 rounds
$19.2MB$85MGrowth

Bar height shows relative size of each round.

Series BMay 2021
$19.2 million
Motilal Oswal
The Hindu BusinessLine
Growth roundSep 2022
$85 million
Temasek, Motilal Oswal Alternates
The Hindu BusinessLine
Anchor roundAug 2026
₹281.5 crore
33 anchors including Goldman Sachs (₹30 Cr), International Finance Corporation and BlackRock Global Funds (₹20 Cr each)
Moneycontrol
IPOAug 2026
₹939.7 crore (₹200 Cr fresh, ₹739.7 Cr sale of existing shares)
Public issue
Entrackr
⇄Deals and partnerships2 items
Bigtec Labs

Wholly owned subsidiary that does research on point-of-care diagnostics

Not statedEntrackr
Oct 2026Motilal Oswal fund to HDFC Mutual Fund

About 2% of Molbio changed hands in market trades at about ₹1,315 a share

₹306 croreThe Hindu BusinessLine
▣Products3 items
Truenat

A portable machine that runs lab-grade tests for infectious diseases such as TB. About 30 diseases and 42 tests were on offer at IPO time.

The Hindu BusinessLineEntrackr
Test kits

Single-use kits for the machines. Most revenue comes from TB kits sold to public health programmes.

The Hindu BusinessLine
Other devices

A breast-screening device, a portable X-ray reading tool and digital pathology systems.

The Hindu BusinessLine
●People2 people
Sriram Natarajan

Co-founder, executive director and CEO. Leads business strategy, fundraising and government partnerships.

The Hindu BusinessLine
Dr Chandrasekhar Bhaskaran Nair

Co-founder, director and CTO. Directs the chip design and test development behind Truenat.

The Hindu BusinessLine
§Licences and legal1 items
Dec 2025

SEBI published its observations, clearing the IPO.

Entrackr

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