Dhoot Transmission vs Molbio Diagnostics — why retail isn't rushing into either one right now

​

Quick take: Both close Aug 12, allot Aug 13, list Aug 17 — same window, so it's one or the other, not both. Dhoot has the stronger numbers and higher GMP. Molbio has the more interesting long-term story but a pricier valuation. Neither has filled its retail quota yet.

The businesses

Dhoot makes wiring harnesses for two/three-wheelers — 41% market share overall, 70% share in the EV segment specifically.

Molbio makes portable diagnostic devices (the Truenat platform), earning recurring revenue every time a hospital runs a test kit on one of their machines.

The numbers

Dhoot: revenue ₹4,563 Cr (+31%), PAT ₹397 Cr (+12%), P/E 44.9x (peer avg ~56.8x).

Molbio: revenue ₹1,455 Cr (+42%), PAT ₹164 Cr, P/E 56.67x (real EV/EBITDA closer to 22.6x once you adjust for heavy R&D spend).

Dhoot's cheaper relative to its own sector. Molbio's growing faster but priced richer.

Why retail is hesitant

Dhoot is sitting at ~0.63x subscribed. Molbio's at ~0.83x. Both under 1x with the window closing soon — grey market is excited (GMP ₹243 and ₹122 respectively) but actual retail money hasn't fully shown up yet. Worth asking why before assuming it's just "not enough people know yet."

If you don't get allotted

Both close/allot the same day, so no backup between these two. Milky Mist closes Aug 13, Behari Lal + Shiprocket close Aug 14 — those stay open if this doesn't come through.

Disclaimer: Educational/informational purposes only, not investment advice. GMP is unofficial/unregulated and not a reliable predictor of listing performance. Do your own research and consult a financial advisor before deciding.