Invicta Diagnostic Limited Link 
Allotment
The Invicta Diagnostic IPO is a book-built public issue with a total size of ₹28.12 crore. The offering consists entirely of a fresh issue of 0.33 crore equity shares, raising ₹28.12 crore.
The IPO opened for subscription on December 1, 2025, and closed on December 3, 2025. The basis of allotment was finalized on December 4, 2025, and the company’s shares were listed on the NSE SME platform on December 8, 2025.
The issue was priced at ₹85 per share, with applications to be made in lots of 1,600 shares. At the upper end of the price band, retail investors were required to invest a minimum of ₹2,72,000 for 3,200 shares. For high net-worth investors, the minimum application size was three lots, or 4,800 shares, translating to an investment of ₹4,08,000.
Socradamus Capital Private Limited acted as the book-running lead manager for the issue, while Bigshare Services Private Limited served as the registrar. Nikunj Stock Brokers Limited was appointed as the market maker for the IPO.
₹85
0%
Open
₹85
HIgh - Low
₹85
Previous Close
₹85
Total Traded Value
0
52 Weeks High
₹85
52 Weeks Low
₹85
Updates On
Nov 25, 2025
IPO. Open
Dec 1, 2026
IPO. Close
Dec 3, 2026
IPO. Price
₹85.00
IPO Market price
₹106.86 Cr
IPO Details
| IPO Date | 8 Dec |
| IPO Listing Date | 8 Dec |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹85.00 |
| IPO Issue Size | 33,08,800 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| hare Holding Pre Issue | 92,63,173 shares |
IPO Timeline
| IPO Open Date | 1 Dec |
| IPO Close Date | 3 Dec |
| IPO Allotment (Tentative) | 4 Dec |
| Refunds | 5 Dec |
| Credit to Demat Account | 5 Dec |
| IPO Listing Date | 8 Dec |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 13,32,800 (40.28%) |
| NII (HNI) Shares Offered | 5,42,400 (16.39%) |
| Retail Shares Offered | 12,67,200 (38.30%) |
IPO Lot Size
Investors can bid for a minimum of 3,200 shares, with additional shares in multiples of 1,600.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3200 | ₹2,72,000 |
| Retail (Max) | 2 | 3200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11200 | ₹9,52,000 |
| B-HNI (Min) | 6 | 12800 | ₹10,88,000 |
Established in January 2021, Invicta Diagnostic Limited operates in the healthcare diagnostics space, providing integrated pathology and radiology services under the brand name PC Diagnostics. Based in Mumbai, the company delivers a wide range of diagnostic solutions, including pathology testing, medical imaging, radiology, and teleradiology services. Its operations are supported by seven diagnostic centres and a central laboratory across Maharashtra.
Invicta Diagnostic follows a hub-and-spoke operating model within the Mumbai Metropolitan Region (MMR). The company’s primary hub in Thane West offers comprehensive pathology services along with advanced radiology facilities such as PET-CT and MRI. This is complemented by three additional hub centres located in Bhayandar, Byculla, and Marol, which provide specialised diagnostic services. The spoke centres in Lower Parel, Sewri, and Kalwa focus on basic imaging services such as X-rays and ultrasounds, along with sample collection.
The company offers an extensive test portfolio, comprising approximately 60 routine pathology tests and 487 specialised pathology tests, alongside around 96 basic and 130 advanced radiology procedures. Its diagnostic services include routine investigations such as complete blood counts, lipid profiles, liver and kidney function tests, and thyroid panels, as well as advanced diagnostics covering molecular testing, immunoassays, infectious disease markers, oncology-related tests, and genetic screening.
Invicta Diagnostic also operates a well-developed sample collection network, enabling home-based sample collection through trained phlebotomists and collection partners. As of October 31, 2025, the company employed 157 permanent staff members.
Key strengths of the company include its expanding footprint across the MMR, particularly in the radiology segment, its ability to offer comprehensive diagnostic services at competitive pricing, strong technical and IT infrastructure, an experienced and dedicated management team, and the effective implementation of the hub-and-spoke model.
Company Financials (Consolidated)
| Assets | 34.90 | 21.22 | 15.89 |
| Total Income | 17.08 | 30.18 | 15.90 |
| Profit After Tax | 4.08 | 4.93 | 3.81 |
| EBITDA | 6.77 | 9.2 | 7.09 |
| NET Worth | 23.68 | 13.60 | 8.67 |
| Reserves and Surplus | 14.42 | 5.18 | 8.54 |
| Total Borrowing | 3.72 | 3.54 | 3.81 |
Key Performance Indicator (KPI)
| ROE | 25% |
| ROCE | 24% |
| Debt/Equity | 0.41 |
| RoNW | 21.95% |
| PAT Margin | 6.80% |
| EBITDA Margin | 11.98% |
| Price to Book Value | 3.75 |
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 | - |
| 3 | To meet out the General Corporate Purposes; | 4.07 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Invicta Diagnostic Limited
1, Ground Floor, Plot 217, Ambavat Bhavan
N. M. Joshi Marg, Delisle Road
Mumbai, Maharashtra – 400013
Phone: 022-4971-0036
Email: investors@pcdiagnostics.in
Website: www.pcdiagnostics.in
Detail Registrar
IPO Registrar
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
The Invicta Diagnostic IPO was a ₹28.12 crore book-built issue consisting entirely of a fresh issue of 0.33 crore equity shares, with no offer for sale component.
The IPO opened for subscription on December 1, 2025, closed on December 3, 2025, and the company’s shares were listed on the NSE SME platform on December 8, 2025.
The issue price was ₹85 per share with a lot size of 1,600 shares. Retail investors were required to apply for two lots, involving a minimum investment of ₹2,72,000.
Invicta Diagnostic provides integrated pathology and radiology services under the PC Diagnostics brand, operating diagnostic centres and laboratories across Maharashtra using a hub-and-spoke operating model.
Socradamus Capital Private Limited was the book-running lead manager, Bigshare Services Private Limited acted as the registrar, and Nikunj Stock Brokers Limited served as the market maker.
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