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Molbio Diagnostics IPO grey market premium near ₹124 per share
The issue valued at the upper price band at 56.7x FY26 earnings, and the IPO is subscribed 1.22 times overall on day two.
Molbio Diagnostics entered its second day of bidding on Tuesday, August 11, after a strong first day that left the mainboard IPO subscribed 83% overall. On day one, investors bid for 67.5 lakh shares against 81.58 lakh shares available for subscription, according to LiveMint Markets.
By 11 am on the second day, the IPO was subscribed more than 1.22 times, with the retail portion booked 1.28 times. NIIs and QIBs were subscribed 1.38 times and 1.00 times, respectively, with 99,91,386 shares received versus 81,58,529 shares offered.
The grey market is pointing to demand, with the latest GMP at around ₹124 per share. LiveMint Markets notes this implies a premium of nearly 15.4% over the IPO’s upper price band of ₹807, while also warning the GMP is unofficial and can change before the stock debut.
Brokerage firm Anand Rathi has a subscribe, long term rating for the IPO. The article adds that at the upper end of the price band, the company is valued at 56.7x FY26 earnings, implying a post-issue market capitalization of ₹92,997 million.