PANAJI
Molbio Diagnostics Limited, a point-of-care (POC) diagnostics company, offering molecular testing for 30 diseases, including tuberculosis, COVID, HIV, HPV and Hepatitis B & C has filed the draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO). According to the DRHP, the proposed IPO of the Goa based company is a combination of a fresh issue of equity shares aggregating up to Rs 200 crores and an offer for sale (OFS) of up to 1,25,56,000 equity shares (1.25 crore equity shares) by the selling shareholders. Molbio Diagnostics proposes to utilize the Net Proceeds from the Fresh Issue as follows - Rs 99.3 crores towards funding capex for setting up of infrastructure for R&D facility, Center of Excellence and connected office space; Rs 73.5 crores towards funding capex for purchase of plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit and rest on general corporate purposes.
