Modern Diagnostic & Research Centre IPO
Bookbuilding IPO | ₹37.00 Cr | Listing at BSE SME
IPO Open
Wed, Dec 31, 2025
IPO Close
Fri, Jan 02, 2026
Price Band
₹85.00 to ₹90.00
Market Cap (Pre-IPO)
₹135.89 Cr
IPO Details
| IPO Date | Dec 31, 2025 to Jan 02, 2026 |
| Listing Date | Tentative: Jan 07, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹85.00 to ₹90.00 |
| Lot Size | 1600 Shares (Minimum: ₹144,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Issue Size | ₹37.00 Crores |
| Total Shares Offered | 4,099,200 shares |
| Offer For Sale | 4,099,200 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 193.51x |
| NII | 702.08x |
| RII | 0.00x |
| Total | 376.90x |
Modern Diagnostic & Research Centre IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 19,44,000 (47.42%) |
| Retail Shares Offered | 13,63,200 (33.26%) |
| NII Shares Offered | 5,85,600 (14.29%) |
Modern Diagnostic & Research Centre IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹288,000 |
| Retail (Max) | 2 | 3,200 | ₹288,000 |
| S-HNI (Min) | 3 | 4,800 | ₹432,000 |
| S-HNI (Max) | 6 | 9,600 | ₹864,000 |
| B-HNI (Min) | 7 | 11,200 | ₹1,008,000 |
Modern Diagnostic & Research Centre Financial Information (Restated Consolidated)
Modern Diagnostic & Research Centre Ltd.'s revenue increased by 15% and profit after tax (PAT) rose by 55% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 77.86 | 64.57 | 49.49 | 36.54 |
| Total Income | 22.67 | 78.80 | 68.67 | 56.61 |
| Profit After Tax | 3.00 | 8.97 | 5.79 | -5.73 |
| EBITDA | 5.86 | 17.96 | 11.05 | -0.99 |
| NET Worth | 23.72 | 20.73 | 11.76 | 5.96 |
| Reserves and Surplus | 12.72 | 9.73 | 10.76 | 4.96 |
| Total Borrowing | 30.38 | 22.09 | 20.46 | 15.31 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 55.21% |
| ROCE (Return on Capital Employed) | 36.18% |
| Debt/Equity | 1.07 |
| RoNW (Return on Net Worth) | 43.27% |
| PAT Margin (Profit After Tax Margin) | 11.51% |
| EBITDA Margin | 23.04% |
| Price to Book Value | 4.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 8.15 | 7.94 |
| P/E (x) | 11.04 | 11.33 |
| Promoter Holding | 99.99% | 72.85% |
Company Promoters
- Mr. Devendra Singh Yadav
- Mrs. Deepali Yadav
- Mrs. Asha Yadav
- and Mr. Jitendra Singh are the promoters of the company.
Company Overview
Incorporated in 1985, Modern Diagnostic & Research Centre Limited (MDRC) is a diagnostic chain in India, offering a comprehensive range of pathology and radiology services.
The company provides reliable diagnostic tests, home specimen collection, online reports, and customized test packages for institutional customers and patients based on their specific needs.
The company operates 21 centers (18 labs, 3 diagnostic centers) across 8 states, offering diagnostic services like ultrasound, CT, MRI, X-ray, ECG, PFT, and specialized labs for heart and neuro care.
Services:
- Pathology:MDRC provides a wide array of tests, including high-end molecular diagnostics, cytogenetics, and specialized panels for genetic disorders and cancer.
- Radiology:The centre offers advanced imaging services such as MRI, CT scans, ultrasound, and digital X-rays, utilizing state-of-the-art equipment like a 3-Tesla MRI machine and a 128-slice CT scanner.
- Home Sample Collection:MDRC offers home blood sample collection services in several cities, providing convenience for patients unable to visit the centre.
Company Strengths
- Experienced Promoter and Management Team
- Comprehensive diagnostics provider delivering all-in-one solution at cost-effective prices
- Focus on quality and customer service
- Centralized information technology platform
Use of Proceeds
| 1) | Funding capital expenditure for purchase of medical Equipments for diagnostic centre and laboratories | 20.69 |
| 2) | Funding Working Capital Requirement | 8.00 |
| 3) | Repayment of certain outstanding borrowings availed by the Company | 1.00 |
| 4) | General Corporate Expenses | 3.33 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Modern Diagnostic & Research Centre IPO Peer Comparison
Modern Diagnostic & Research Centre peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Modern Diagnostic & Research Centre Ltd. | 8.15 | 8.15 | 18.84 | 0.00 | 43.27 | 0.00 | Standalone |
| Vijaya Diagnostic Centre Ltd | 13.92 | 13.92 | 77.42 | 72.36 | 18.07 | 0.00 | Consolidated |
Quick Info
| Sector | Healthcare Services |
| Exchange | BSE SME |
| Market Cap (Pre-IPO) | ₹135.89 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Dec 31, 2025 |
| IPO Close | Jan 02, 2026 |
| Allotment Date | Jan 05, 2026 |
| Credit to Demat | Jan 06, 2026 |
| Listing Date | Tentative: Jan 07, 2026 |
Lead Manager(s)
Beeline Capital Advisors Pvt.Ltd.
Registrar
Description
Modern Diagnostic IPO is a book build issue of ₹36.89 crores. The issue is entirely a fresh issue of 0.41 crore shares of ₹36.89 crore.
Modern Diagnostic IPO bidding started from Dec 31, 2025 and ended on Jan 2, 2026. The allotment for Modern Diagnostic IPO was finalized on Jan 5, 2026. Modern Diagnostic IPO will list on BSE SME with a tentative listing date fixed as Jan 7, 2026.
Modern Diagnostic IPO price band is set at ₹90 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,88,000 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,32,000.