Allotment

The Modern Diagnostic IPO is a book-built public offering with a total issue size of ₹36.89 crore. The entire issue comprises a fresh issuance of approximately 0.41 crore equity shares, with no offer for sale component.
The IPO will open for public subscription on December 31, 2025, and will remain open until January 2, 2026. Share allotment is expected to be completed on January 5, 2026. The equity shares are proposed to be listed on the BSE SME platform, with a tentative listing date of January 7, 2026.
The price band for the Modern Diagnostic IPO has been fixed in the range of ₹85 to ₹90 per share. Investors must apply in a minimum lot size of 1,600 shares. At the upper end of the price band, the minimum investment required from retail investors is ₹2,88,000, corresponding to an application for 3,200 shares. For High Net Worth Individuals, the minimum application size is three lots, or 4,800 shares, involving an investment of ₹4,32,000.
Beeline Capital Advisors Pvt. Ltd. is acting as the book running lead manager for the issue, while MUFG Intime India Pvt. Ltd. has been appointed as the registrar. Spread X Securities Pvt. Ltd. will serve as the market maker for the IPO.
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| IPO Date | 7 Jan |
| IPO Listing Date | 7 Jan |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹90.00 |
| IPO Issue Size | 40,99,200 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE-SME Platform |
| Share Holding Pre Issue | 1,10,00,000 shares |
| IPO Open Date | 31 Dec |
| IPO Close Date | 2 Jan |
| IPO Allotment (Tentative) | 5 Jan |
| Refunds | 6 Jan |
| Credit to Demat Account | 6 Jan |
| IPO Listing Date | 7 Jan |
| Category | Offer |
|---|---|
| QIB Shares Offered | 2,06,400 (5.04%) |
| NII (HNI) Shares Offered | 5,85,600 (14.29%) |
| Retail Shares Offered | 13,63,200 (33.26%) |
Investors can bid for a minimum of 3,200 shares, with additional shares available in multiples of 1,600.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,88,000 |
| Retail (Max) | 2 | 3,200 | ₹2,88,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,32,000 |
| S-HNI (Max) | 6 | 9,600 | ₹8,64,000 |
| B-HNI (Min) | 7 | 11,200 | ₹10,08,000 |
Founded in 1985, Modern Diagnostic & Research Centre Limited (MDRC) operates as an established diagnostic services network in India, delivering an extensive range of pathology and radiology solutions.
The company offers dependable diagnostic testing supported by home sample collection, digital report access, and tailored testing packages designed to meet the specific requirements of both institutional clients and individual patients.
MDRC runs a network of 21 facilities, comprising 18 laboratories and 3 diagnostic centers, spread across 8 states. These centers provide a broad spectrum of diagnostic services, including ultrasound, CT scans, MRI, X-ray, ECG, pulmonary function tests, as well as advanced diagnostic facilities focused on cardiac and neurological care.
In pathology, the company conducts a wide range of investigations, from routine tests to advanced molecular diagnostics, cytogenetic studies, and specialized test panels for genetic conditions and cancer detection. Its radiology services include modern imaging solutions such as MRI, CT scanning, ultrasound, and digital X-rays, supported by advanced equipment including a 3-Tesla MRI system and a 128-slice CT scanner. To enhance patient convenience, MDRC also offers home blood sample collection services across multiple cities, enabling patients to access diagnostic care without visiting a center.
The company’s strengths lie in its experienced promoters and management team, its ability to provide end-to-end diagnostic solutions at affordable pricing, and its strong emphasis on service quality and patient satisfaction. A centralized information technology system further supports efficient operations and seamless report management across its network.
| Assets | 77.86 | 64.57 | 49.49 |
| Total Income | 22.67 | 78.8 | 68.67 |
| Profit After Tax | 3 | 8.97 | 5.79 |
| EBITDA | 5.86 | 17.96 | 11.05 |
| NET Worth | 23.72 | 20.73 | 11.76 |
| Reserves and Surplus | 12.72 | 9.73 | 10.76 |
| Total Borrowing | 30.38 | 22.09 | 20.46 |
| ROE | 55.21% |
| ROCE | 36.18% |
| Debt/Equity | 1.07 |
| RoNW | 43.27% |
| PAT Margin | 11.51% |
| EBITDA Margin | 23.04% |
| Price to Book Value | 4.78 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 8 |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
Modern Diagnostic & Research Centre Limited
Plot No. H-64, 1st Floor, Block H
Bali Nagar, near Khetar Pal Hospital
Ramesh Nagar, West Delhi
New Delhi – 110015
Phone: 9999474297
Email: compliance@mdrcindia.com
Website: www.mdrcindia.com
IPO Registrar
MUFG Intime India Pvt.Ltd.
+91-22-4918 6270
moderndiagnostic.smeipo@in.mpms.mufg.com
https://in.mpms.mufg.com/Initial_Offer/public-issues.html
The Modern Diagnostic IPO is a book-built SME public issue through which the company plans to raise around ₹36.89 crore to support business expansion and financial strengthening.
The IPO opens on December 31, 2025, and closes on January 2, 2026.
The equity shares are proposed to be listed on the BSE SME platform.
The price band for the Modern Diagnostic IPO is fixed between ₹85 and ₹90 per share.
Retail investors must apply for a minimum of 3,200 shares, requiring an investment of approximately ₹2.88 lakh at the upper price band.