Modern Diagnostic & Research Centre IPO
The Modern Diagnostic & Research Centre Limited IPO is one of the noteworthy SME public offerings in India at the end of 2025, aiming to raise capital for expanding its operations in the rapidly growing healthcare diagnostics sector.
Company Overview
Modern Diagnostic & Research Centre Limited is a healthcare services provider in India operating a network of diagnostic and investigative centers. The company offers comprehensive pathology and radiology services including advanced diagnostic imaging (CT scans, MRI, X-rays), ultrasound, clinical pathology, molecular testing, ECG, PFT, mammography and more — catering to individual patients, hospitals, and corporate clients across several states.
Founded as a private company, it was later converted into a public limited company as part of its growth plans and future public listing. It has established an integrated digital platform for efficient operations and reporting.
IPO Details
Here are the key parameters for the Modern Diagnostic & Research Centre IPO:
IPO Opening Date: 31 December 2025
IPO Closing Date: 02 January 2026
Price Band: ₹85 – ₹90 per share
Issue Size: ~₹36.89 crore (40,99,200 equity shares)
Issue Type: Fresh issue (100% new shares)
Listing: BSE SME platform
Face Value: ₹10 per share
Lot Size: 1,600 shares per lot
Minimum Retail Investment: ₹2,88,000 (2 lots)
Allotment Date: 05 January 2026
Credit to Demat: 06 January 2026
Expected Listing Date: 07 January 2026
The IPO is fully a fresh issue, meaning all proceeds go to the company for growth and operational objectives.
Objectives of the IPO
The company plans to deploy the proceeds from the IPO for several strategic purposes:
1. Capital Expenditure:
To fund the purchase of new medical equipment and technology upgrades across existing and upcoming diagnostic centers.
2. Working Capital:
To support routine business operations, improve cash flow, and sustain growth in key markets.
3. Debt Repayment:
To repay certain outstanding borrowings, strengthening the company’s financial standing.
4. General Corporate Purposes:
To support broader business expansion and administrative needs.
Business Strengths and Competitive Position
Modern Diagnostic’s competitive edge lies in:
- A broad portfolio of diagnostic services under one roof, combining pathology and imaging solutions.
- Integrated technology platforms for efficient digital reporting and patient management.
- Experienced promoters and management, bringing industry expertise and operational oversight.
- Cost-effective, quality-driven healthcare services with focus on accessibility and patient satisfaction.
The company is positioned to tap into India’s expanding diagnostics market, which is driven by rising healthcare awareness, preventive care demand, and increased medical institutionalization.
Financial Snapshot (Recent Trends)
Based on the company’s reports leading up to the IPO:
- Revenue Growth: Revenue has shown an upward trajectory over recent years, with improvements reported from financial year 2023 to 2024.
- Profitability: The company improved profitability after posting losses in earlier years, turning profitable in financial reports leading up to the IPO.
- Margins and KPIs: Key indicators like return on equity, ROCE and PAT margins show improving financial health, signaling operational stability ahead of public listing.
Investor Considerations
Strengths for Investors:
✔ Growing Healthcare Demand: Diagnostics services are essential and often recession-resilient.
✔ Comprehensive Service Suite: The company’s integrated offerings reduce dependency on external providers.
✔ Expansion Potential: Proceeds aimed at expanding capacity and modernizing technology.
Risks to Consider:
SME Classification: SME IPOs may exhibit higher volatility and lower liquidity compared to mainboard listings.
Sector Competition: The diagnostics space has significant competition from established players.
Investment Threshold: The minimum application amount is relatively large for retail investors.
How to Apply
Retail investors can subscribe via their brokerage or ASBA through their bank accounts, selecting their desired number of lots within the allowed retail quota (35%). Qualified institutional buyers and non-institutional investors also have respective quotas.
Conclusion
The Modern Diagnostic & Research Centre IPO presents an opportunity for investors to participate in the growth of a healthcare diagnostics service provider with an integrated service portfolio across India. The IPO’s proceeds are targeted toward strengthening operational capacity, upgrading diagnostic technology, and leveraging broader demand for cost-effective clinical testing services.
