Rs 200 crores to be raised as fresh capital
Molbio Diagnostics, a point-of-care (POC) diagnostics company, has filed the draft red herring prospectus (DRHP) with the 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 crore equity shares by the selling shareholders.
As part of the OFS, the Selling Shareholders include Exxora Trading LLP, Dr. Chandrasekhar Bhaskaran Nair, Abdul Qadir Mohamed Theruvath, Chewbacca Services, J Guru Dutt, Gopalkrishna Mangalore Kini, Gopalakrishna Sampathgiri, India Business Excellence Fund III, M Ganesh Kamath, M.A. Rohit, MA Sharath, MA Usha Rani, Sangeetha M Kini, Shaheeda Abdul Kader, Shruthi G Kini, Sujay Limited, V Sciences Investments And Vivek Devaraj.
Molbio Diagnostics proposes to utilise Rs 99.3 from the net proceeds of the Fresh Issue towards funding capex for setting up of infrastructure for R&D facility, Center of Excellence and connected office space. A further Rs 73.5 crores will be allocated towards funding capex for purchase of plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit, while the remaining amount will be used for general corporate purposes.
