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Modern Diagnostic & Research Centre IPO
₹1,36,000/1,600 shares
Minimum Investment
IPO Details
31 Dec 25
02 Jan 26
₹1,36,000
1,600
₹85 to ₹90
BSE
₹37 Cr
07 Jan 26
Modern Diagnostic & Research Centre IPO Timeline
Bidding Start
31 Dec 25
Bidding Ends
02 Jan 26
Allotment Finalisation
05 Jan 26
Refund Initiation
06 Jan 26
Demat Transfer
06 Jan 26
Listing
07 Jan 26
Modern Diagnostic & Research Centre Limited
Modern Diagnostic & Research Centre Limited, incorporated in 1985, is an integrated diagnostic services provider in India. The company offers a wide range of pathology and radiology services including MRI, CT scans, ultrasound, X-ray, ECG, PFT, molecular diagnostics, cytogenetics, and cancer screening. It operates 21 centres across eight states, supported by centralized IT systems and modern medical equipment. The company also provides home sample collection and online reporting services, focusing on quality, accessibility, and patient convenience across urban and semi-urban regions.
Modern Diagnostic & Research Centre Limited IPO Overview
The Modern Diagnostic IPO is a bookbuilding issue of ₹36.89 crore comprising a fresh issue of 40.99 lakh equity shares. The IPO opens on 31 December 2025 and closes on 2 January 2026, with allotment expected on 5 January 2026 and listing scheduled on 7 January 2026 on the BSE SME platform. The price band is fixed at ₹85 to ₹90 per share with a face value of ₹10 per share. The lot size is 1,600 shares. Beeline Capital Advisors Pvt. Ltd. is the lead manager and MUFG Intime India Pvt. Ltd. is the registrar. Spread X Securities Pvt. Ltd. is the market maker for the issue.
Modern Diagnostic & Research Centre Limited IPO Details
| Particulars | Details |
| IPO Date | 31 Dec 2025 to 2 Jan 2026 |
| Listing Date | 7 Jan 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹85 to ₹90 |
| Lot Size | 1,600 Shares |
| Total Issue Size | 40,99,200 shares (₹37 Cr) |
| Fresh Issue | 40,99,200 shares |
| Offer for Sale | NA |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,10,00,000 shares |
| Share Holding Post Issue | 1,50,99,200 shares |
| Market Maker Portion | 2,06,400 shares |
IPO Reservation
| Investor Category | Shares Offered |
| QIB | Not more than 50% |
| Retail | Not less than 35% |
| NII (HNI) | Not less than 15% |
IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,88,000 |
| Retail (Max) | 2 | 3,200 | ₹2,88,000 |
| HNI (Min) | 3 | 4,800 | ₹4,32,000 |
Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 99.99% |
| Post-Issue | 72.85% |
IPO Valuation Overview
| KPI | Value |
| EPS | ₹6.56 |
| P/E Ratio | 13.71x |
| RoNW | 49.28% |
| ROE | 65.40% |
| ROCE | 25.58% |
| NAV | ₹8.52 |
| EBITDA Margin | NA |
| PAT Margin | 8.63% |
| Debt to Equity | 1.74 |
Objectives of the Proceeds
- Purchase advanced diagnostic equipment for laboratories and centres — ₹20.69 Cr
- Fund incremental working capital requirements — ₹11.60 Cr
- Repay outstanding borrowings and improve leverage — ₹4.50 Cr
- Meet general corporate expenses and administrative costs
Key Financials (₹ Crore)
| Particulars | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 57.79 | 49.49 | 36.54 |
| Revenue | 40.33 | 68.67 | 56.61 |
| Profit After Tax | 4.96 | 5.79 | -5.73 |
| Reserves & Surplus | 15.71 | 10.76 | 4.96 |
| Total Borrowings | 21.13 | 20.46 | 15.31 |
SWOT Analysis of Modern Diagnostic & Research Centre IPO
Strength and Opportunities
- Experienced promoter team with healthcare expertise
- Integrated diagnostics across pathology and radiology
- Strong repeat institutional and retail customer base
- Centralized IT and reporting platform
Risks and Threats
- High dependence on medical equipment imports
- Rising competition from regional diagnostic chains
- Regulatory risks related to healthcare compliance
- Pricing pressure from government health schemes
Explore IPO Opportunities
Explore our comprehensive IPO pages to stay updated on the latest trends and insights.
About Modern Diagnostic & Research Centre Limited
Modern Diagnostic & Research Centre IPO Strengths
- Experienced promoter and management team with healthcare expertise
- Established presence in diagnostics across multiple states
- Strong repeat customer base including institutional and retail clients
- Integrated pathology and radiology services providing end-to-end solutions
- Centralized IT systems ensuring operational efficiency and accurate reporting
- Use of advanced diagnostic equipment enhances reliability and service quality
Peer Group Comparison
As per the DRHP, there are no comparable listed peers of the company.
How to apply IPO with HDFC SKY?
Follow these simple steps to apply for an IPO through HDFC SKY. Secure your investments and explore new opportunities with ease by accessing the IPOs available on the platform.
1Login to your HDFC SKY Account
2Select Issue
3Enter Number of Lots and your Price.
4Enter UPI ID
5Complete Transaction on Your UPI App
FAQs On Modern Diagnostic IPO
How can I apply for Modern Diagnostic IPO?
You can apply through HDFC Sky using UPI-based ASBA during the IPO subscription period.
What is the minimum investment required?
Retail investors must invest at least ₹2,88,000 for 3,200 shares at the upper price band.
When will the IPO list on the exchange?
The IPO is expected to list on the BSE SME platform on 7 January 2026.
Is this IPO a fresh issue or offer for sale?
The issue is entirely a fresh issue with no offer for sale component.
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