Modern Diagnostic IPO
GMP, Subscription, Price, Dates & Financial Details
Healthcare Services
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…
Open Date
Wed, 31 Dec 2025
Close Date
Fri, 02 Jan 2026
Price Band
₹ 85 – 90
Lot Size
1600
Issue Size
₹ 37.00 Cr
Minimum Investment
₹ 288,000 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Modern Diagnostic IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹37.00 Crore, comprising a fresh issue of 40.99 Lakh equity shares aggregating to ₹37.00 Crore.
The Modern Diagnostic IPO remained open for subscription from December 31, 2025, to January 02, 2026. The basis of allotment was finalized on January 05, 2026, and the company's shares were listed on BSE SME Platform on January 07, 2026.
The company had fixed the price band at ₹85 to ₹90 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹288,000 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Beeline Capital Advisors Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Modern Diagnostic & Research Centre Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Modern Diagnostic IPO Timeline (Tentative)
- IPO Open Date
- Wed, 31 Dec 25
- IPO Close Date
- Fri, 02 Jan 26
- Basis of Allotment
- Mon, 05 Jan 26
- Initiation of Refunds
- Tue, 06 Jan 26
- Credit of Shares to Demat
- Tue, 06 Jan 26
- Listing Date
- Wed, 07 Jan 26 — NSE & BSE
Open Date
31 December 2025
Close Date
02 January 2026
Basis Of Allotment
05 January 2026
Listing Date
07 January 2026
IPO Subscription
Check Live Subscription →The Modern Diagnostic IPO has received bids for 1,02,95,90,400 shares against 27,31,200 shares offered, resulting in an overall subscription of 376.97x. the NII category is subscribed 702.43x, Retail Investors 342.46x, and QIBs 193.51x.
QIB
193.51x
NII
702.43x
RII
342.46x
Total
376.97x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 13,63,200 shares, representing 49.91% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 7,82,400 shares (28.65%), while Non-Institutional Investors (NIIs) receive 5,85,600 shares (21.44%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 782,400 | 28.65% |
| Non-Institutional | 585,600 | 21.44% |
| BNII | 393,600 | 14.41% |
| SNII | 192,000 | 7.03% |
| Retail Investors | 1,363,200 | 49.91% |
| Total | 2,731,200 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Modern Diagnostic & Research Centre Limited KPI Information
| 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 |
| Pat Margin % | 11.51 | 8.63 | -10.18 |
Peers Comparison
| 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 |
About Modern Diagnostic & Research Centre Limited
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.
Modern Diagnostic IPO 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%
Modern Diagnostic IPO Objective
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
Modern Diagnostic & Research Centre Limited Address / Contact Details
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
Modern Diagnostic IPO Lot Size
The Modern Diagnostic IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹2,88,000 by applying for 2 lot (3,200 shares). The maximum application allowed for the retail category is 2 lots (3,200 shares), requiring an investment of ₹2,88,000.
| 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 |
Issue Reservation
- QIB — 28.65%
- NII — 21.44%
- RII — 49.91%
Book Running Lead Managers
- Beeline Capital Advisors Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Modern Diagnostic IPO?
Modern Diagnostic IPO is a Book-building IPO with a total issue size of ₹37 crore. The Modern Diagnostic IPO price band is ₹85 to 90 per share. The Modern Diagnostic IPO subscription opens on Wed, Dec 31, 2025, and closes on Fri, Jan 2, 2026. The Modern Diagnostic IPO will be listed on the BSE. MUFG Intime India Private Limited is the registrar for the Modern Diagnostic IPO.
When will the Modern Diagnostic IPO open for subscription?
The Modern Diagnostic IPO opens on Wed, Dec 31, 2025 and closes on Fri, Jan 2, 2026
What is Modern Diagnostic IPO Price Band?
Modern Diagnostic IPO Price Band is ₹85 to 90 per share.
What is Modern Diagnostic IPO Lot Size?
Modern Diagnostic IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹288000 based on the upper price band
What is the minimum investment for Modern Diagnostic IPO?
The minimum investment for Modern Diagnostic IPO is ₹288000, based on one lot of 1600 shares at the upper price band of ₹90 per share.
How to apply for Modern Diagnostic IPO?
Investors can apply for the Modern Diagnostic IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jan 2, 2026. The application amount remains blocked until the Modern Diagnostic IPO allotment is finalized.
What is Modern Diagnostic IPO Issue Size?
Modern Diagnostic IPO issue size is ₹37 crores.
What is the Modern Diagnostic IPO Allotment Date?
Modern Diagnostic IPO allotment date is Mon, Jan 5, 2026.
Who is the Modern Diagnostic IPO Registrar?
The registrar for Modern Diagnostic IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Modern Diagnostic IPO allotment status, refund processing, and other IPO-related information.
What is the Modern Diagnostic IPO GMP?
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 15.56% over the issue price.
Who is the Modern Diagnostic IPO Lead Manager?
The book-running lead managers (BRLMs) for the Modern Diagnostic IPO are Beeline Capital Advisors Pvt Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Modern Diagnostic IPO Red Herring Prospectus (RHP).