Modern Diagnostic & Research Centre IPO Opens December 31, Aims ₹36.89 Cr

Mumbai (Maharashtra) [India], December 26: Modern Diagnostic & Research Centre Limited, a provider of diagnostic and allied healthcare testing services in India, has announced the opening of its Initial Public Offering (IPO) on December 31, 2025. The company plans to raise ₹36.89 crore (at the upper price band) through a fresh issue of 40,99,200 equity shares, with the shares proposed to be listed on the BSE SME platform.

IPO Details

The IPO comprises 40,99,200 equity shares with a face value of ₹10 each, offered in a price band of ₹85–₹90 per share.

Issue Highlights:

• IPO Opens: Wednesday, December 31, 2025

• IPO Closes: Friday, January 2, 2026

• Anchor Book Opens: Tuesday, December 30, 2025

• Issue Size: ₹36.89 crore (at upper band)

• Listing Platform: BSE SME

Equity Share Allocation

The equity shares are proposed to be allocated as follows:

• QIB Anchor Portion: Not more than 11,61,600 equity shares

• Qualified Institutional Buyers (QIB): Not more than 7,82,400 equity shares

• Non-Institutional Investors (NII): Not less than 5,85,600 equity shares

• Retail Individual Investors (RII): Not less than 13,63,200 equity shares

• Market Maker: 2,06,400 equity shares

Utilisation of IPO Proceeds

The company intends to deploy the net proceeds of the IPO towards strengthening its operational and financial foundation. The proposed utilisation includes:

• Capital expenditure for the purchase of advanced medical equipment for diagnostic centres and laboratories

• Meeting working capital requirements

• Repayment of certain outstanding borrowings

• General corporate purposes

These investments are expected to enhance diagnostic capacity, improve turnaround times, and support network expansion.

Management Commentary

Commenting on the IPO, Dr Devendra Singh Yadav, Chairman and Managing Director of Modern Diagnostic & Research Centre Limited, said:

“The listing of the Company’s equity shares marks a significant milestone as we enter the next phase of expansion. Since inception, we have focused on accuracy, timeliness, and accessibility in diagnostic services, supporting clinicians and improving patient care outcomes.

The proposed IPO will provide the financial strength required to accelerate our growth strategy. The proceeds will be strategically utilised towards acquiring advanced medical equipment, strengthening laboratory infrastructure, and expanding our diagnostic network. These initiatives will enable us to enhance testing capabilities, improve turnaround times, and deliver consistent, high-quality diagnostic services across locations.”

Issue Management

The IPO is being managed by Beeline Capital Advisors Private Limited as the Book Running Lead Manager, while MUFG Intime India Private Limited has been appointed as the Registrar to the Issue.

Outlook

With rising demand for preventive healthcare, early diagnosis, and quality testing services, the diagnostics sector in India continues to witness sustained growth. The proposed IPO positions Modern Diagnostic & Research Centre Limited to capitalise on these opportunities by expanding capacity, upgrading technology, and reinforcing service delivery standards.

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