Khaitan & Co, Cyril Amarchand Mangaldas, Hogan Lovells Cadwalader act on Molbio Diagnostics ₹939 crore IPO

Molbio Diagnostics Limited has raised ₹939.696 crore from an initial public offering of equity shares, comprised of a fresh issue and an offer for sale.

Khaitan & Co advised Molbio Diagnostics on this IPO.

The transaction team consisted of Abhimanyu Bhattacharya (Partner), Gautham Srinivas (Partner), Sathvik Ponnappa (Partner), Sanjeev Chowdhary (Principal Associate), Vaishnavi Gupta (Senior Associate), Mainak Pani (Associate) and Shambhavi Gautam (Associate).

Cyril Amarchand Mangaldas advised the book-running lead managers Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Motilal Oswal Investment Advisors Limited, on this IPO.

The transaction was led by Yash J. Ashar (Senior Partner) and Priyadarshini Rao (Partner), with assistance from Raksha Raina (Senior Associate), Associates Prakhar Jain, Janhavi Deshmukh, Zubin Ronnie, Aria Sheth and Namita Kaushik.

Hogan Lovells Cadwalader acted as International Counsel for the lead managers.

The transaction team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner).

Molbio is an innovative point-of-care (POC) diagnostics company focused on expanding access to accurate, rapid, and cost-effective healthcare technologies to diagnose infectious and non-communicable diseases. Their flagship innovation, Truenat, is a novel POC polymerase chain reaction (PCR) platform that is battery-operated and can operate in resource-limited settings, facilitating decentralized diagnosis within an hour.

The IPO was subscribed 70.26 times, with the portion reserved for qualified institutional buyers being subscribed 186.39 times.

The proceeds of the IPO will be channeled towards a R&D facility, Centre of Excellence and office infrastructure; a plant, machinery and equipment for manufacturing units; and general corporate purposes

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