Modern Diagnostic IPO
Open SmeCurrent GMP
₹14 (+15.56%)
Price Band
₹ 85 – 90
Lot Size
1600
Issue Size
₹37 Cr
Minimum Investment
₹288000 (3200 Shares)
Listing Date
07 January 2026
Subscription
376.97x
About the Company
Modern Diagnostic & Research Centre Limited (MDRC), incorporated in 1985, is a well-established diagnostic services provider in India. The company operates a growing diagnostic chain offering a comprehensive range of pathology and radiology services to individuals, hospitals, and institutional clients.
MDRC is committed to delivering accurate, reliable, and timely diagnostic solutions, supported by advanced technology and experienced medical professionals. Its services include routine and specialized diagnostic testing, home specimen collection, online report access, and customized health packages tailored to the specific requirements of patients and institutional customers.
As of February 28, 2025, MDRC operates 21 centers across 8 Indian states, comprising 17 pathology laboratories and 4 full-fledged diagnostic centers. The company provides a broad spectrum of diagnostic services, including Ultrasound, CT Scan, MRI, X-Ray, ECG, Pulmonary Function Tests (PFT), as well as specialized diagnostic facilities for cardiac and neurological care.
Key Services
Pathology Services
MDRC offers an extensive range of pathology tests, from routine investigations to advanced and specialized diagnostics. These include high-end molecular diagnostics, cytogenetics, and specialized testing panels for genetic disorders, oncology, and other complex medical conditions.
Radiology Services
The company provides advanced imaging services such as MRI, CT scans, ultrasound, and digital X-rays, utilizing state-of-the-art equipment, including a 3-Tesla MRI system and a 128-slice CT scanner, ensuring high-quality imaging and accurate diagnosis.
Home Sample Collection
To enhance patient convenience, MDRC offers home blood sample collection services in multiple cities, catering especially to elderly patients, chronically ill individuals, and those unable to visit diagnostic centers.
Human Resources
As of February 28, 2025, MDRC has a total workforce of 570 employees, including qualified doctors, consultants, technical staff, and support personnel, who collectively contribute to maintaining high standards of diagnostic accuracy and patient care.
Promoters
- Mr. Devendra Singh Yadav
- Mrs. Deepali Yadav
- Mrs. Asha Yadav
- Mr. Jitendra Singh
Promoters Holding
Holding Pre Issue
99.99%
Holding Post Issue
72.85%
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure for purchase of medical equipment towards establishment of new diagnostic centre and labs
- Funding Working Capital Requirement
- Repayment of certain outstanding borrowings availed by our Company
- General Corporate Expenses
Address / Contact Info
Modern Diagnostic & Research Centre Ltd. Address
Plot No H-64,1st Floor BLK-H,
Bali Nagar City landmark near Khetar Pal Hospital,
Ramesh Nagar, West Delhi
West Delhi, New Delhi, 110015
Phone: 9999474297
Email: compliance@mdrcindia.com
Website: http://www.mdrcindia.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 31 December 2025
IPO Close Date
Friday, 02 January 2026
Basis of Allotment
Monday, 05 January 2026
Initiation of Refunds
Tuesday, 06 January 2026
Credit of Shares to Demat
Tuesday, 06 January 2026
Listing Date
Wednesday, 07 January 2026 — NSE & BSE
Important Dates
Open Date
31 December 2025
Close Date
02 January 2026
Basis Of Allotment
05 January 2026
Listing Date
07 January 2026
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 77.86 | 64.57 | 49.49 | 36.54 |
| Revenue | 22.67 | 78.8 | 68.67 | 56.61 |
| Profit After Tax | 3 | 8.97 | 5.79 | -5.73 |
| Net Worth | 23.72 | 20.73 | 11.76 | 5.96 |
| Reserve & Surplus | 12.72 | 9.73 | 10.76 | 4.96 |
| Total Borrowings | 30.38 | 22.09 | 20.46 | 15.31 |
EPS Pre
8.15%
EPS Post
7.94%
P/E Pre
11.04
P/E (Post Issue)
11.33x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 55.21 | 65.4 | -64.92 |
| ROCE % | 36.18 | 25.57 | -17.18 |
| Debt / Equity | 1.07 | 1.74 | 2.57 |
| RoNW % | 43.27 | 49.28 | -96.12 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 11.51 | 8.63 | -10.18 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 782400 | 28.65 | 0 |
| Non-Institutional | 585600 | 21.44 | 0 |
| BNII | 393600 | 14.41 | 0 |
| SNII | 192000 | 7.03 | 0 |
| Retail Investors | 1363200 | 49.91 | 0 |
| Total | 2731200 | 100 | 0 |
Subscription Status ( Fri, 02 Jan 26 01:33 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 782400 | 151400000 | 193.51x |
| Non-Institutional | 585600 | 411345600 | 702.43x |
| Retail Investors | 1363200 | 466844800 | 342.46x |
| Total | 2731200 | 1029590400 | 376.97x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Modern Diagnostics & Research Centre Ltd | 10 | 0.00 | 8.15 | 8.15 | 43.27 | 18.84 |
| Vijaya Diagnostic Centre Ltd | 1 | 72.36 | 13.92 | 13.92 | 18.07 | 77.42 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 288,000.00 |
| Retail (Max) | 2 | 3,200 | 288,000.00 |
| S-HNI (Min) | 3 | 4,800 | 432,000.00 |
| S-HNI (Max) | 6 | 9,600 | 864,000.00 |
| B-HNI (Min) | 7 | 11,200 | 1,008,000.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Beeline Capital Advisors Pvt Ltd
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Modern Diagnostic IPO is a Book-building IPO worth ₹37 crores. The price band is ₹85 to 90 per share. The IPO opens on Wed, Dec 31, 2025 and closes on Fri, Jan 2, 2026. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Modern Diagnostic IPO opens on Wed, Dec 31, 2025 and closes on Fri, Jan 2, 2026
Modern Diagnostic IPO Price Band is ₹85 to 90.
Modern Diagnostic IPO lot size is 1600, and the minimum amount required for application is ₹288000.
The minimum investment for Modern Diagnostic IPO is approximately ₹288000 based on the upper price band.
To apply for the Modern Diagnostic IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jan 2, 2026. After submission, funds are blocked until the basis of allotment of Modern Diagnostic IPO is finalised.
Modern Diagnostic IPO issue size is ₹37 crores.
Modern Diagnostic IPO allotment date is Sat, Jun 27, 2026.
The registrar for Modern Diagnostic IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Modern Diagnostic IPO through their official website or helpline.
The Modern Diagnostic IPO GMP (Grey Market Premium) is ₹14 as of Wed, Jan 7, 2026. Based on the upper price band of ₹90 per share, the estimated Modern Diagnostic IPO listing price is ₹104, indicating a potential listing gain of approximately 31% over the issue price.