Dhoot Transmission, Molbio Diagnostics IPOs Open for Subscription Today

India's primary market saw fresh action on Monday as two mainboard initial public offerings, Dhoot Transmission and Molbio Diagnostics, opened for public subscription, together seeking to raise more than Rs 4,000 crore.

Dhoot Transmission's Rs 3,067-Crore Issue

Dhoot Transmission, a leading maker of wiring harnesses for two-wheelers, launched its Rs 3,066.89-crore IPO with a price band of Rs 829 to Rs 871 per share. The issue comprises a fresh issuance of shares worth up to Rs 1,400 crore along with an offer for sale of up to Rs 1,666.89 crore by existing shareholders. The lot size has been fixed at 17 shares, translating into a minimum investment of roughly Rs 14,800 for retail applicants.

The company, which ranks among the top two players in India's two-wheeler wiring harness segment, will use the fresh issue proceeds largely for capacity expansion and general corporate purposes. In the grey market, Dhoot Transmission commanded a premium of around Rs 259 over its upper price band on the opening day, implying a premium of close to 30 per cent, a signal of strong pre-listing demand, though grey market activity is unofficial and can shift quickly through the subscription window.

Molbio Diagnostics Taps Diagnostics Demand

Molbio Diagnostics, known for its Truenat point-of-care molecular diagnostics platform used for rapid, lab-grade PCR testing in resource-constrained settings, opened its Rs 939.70-crore IPO with a price band of Rs 768 to Rs 807 per share. The issue includes a fresh issue of shares worth up to Rs 200 crore and an offer for sale of nearly 0.92 crore shares by existing investors.

The company's Truenat technology is patented in more than 100 countries, underlining its global diagnostics footprint. Molbio reported a net profit of Rs 166.6 crore in FY26, up close to 15 per cent year-on-year, while revenue grew nearly 42 per cent to Rs 1,445.7 crore, reflecting steady demand for its diagnostics platforms. Grey market premium for the issue was quoted at around Rs 120 on the opening day, translating to roughly a 15 per cent premium over the upper price band.

Subscription Timeline and Listing Plans

Both issues will remain open for bidding through August 12, with the basis of allotment expected to be finalised on August 13. Shares of both companies are tentatively scheduled to list on the BSE and NSE on August 17.

The launches come in the middle of an unusually busy primary market week, with LEAP India and Technocraft Ventures entering the second day of their respective subscription windows, Optimystix Entertainment also in its second day of bidding, and LAPL Automotive's issue set to close on its final day. Market participants said the steady stream of listings reflects continued issuer confidence in India's primary market even as secondary market indices have traded largely range-bound in recent sessions.

Analysts tracking the two new issues noted that investor appetite would likely hinge on sector-specific factors: Dhoot Transmission's fortunes are closely tied to two-wheeler sales momentum heading into the festive season, while Molbio Diagnostics' outlook depends on continued demand for affordable, decentralised diagnostic testing across India and export markets. As with any IPO, prospective investors have been advised to weigh valuations, sectoral growth prospects and use-of-proceeds details in the respective offer documents before applying, rather than relying solely on grey market cues.

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