Modern Diagnostic & Research Centre IPO Open, Closes January 2

The company plans to utilize the net proceeds from the IPO toward capital expenditure for the purchase of medical equipment for diagnostic centers and laboratories, meeting working capital requirements, repayment of certain outstanding borrowings, and general corporate purposes.

Modern Diagnostic & Research Centre Limited’s initial public offering (IPO) opened for subscription on December 31, 2025, with the issue scheduled to close on January 2, 2026. 

The company is seeking to raise ₹36.89 crore at the upper end of the price band through a fresh issue of 40,99,200 equity shares. The shares are proposed to be listed on the BSE SME platform.

The IPO is priced in a band of ₹85 to ₹90 per equity share, with a face value of ₹10 each. The anchor portion of the issue opened on December 30, 2025, ahead of the public subscription.

As per the issue structure, up to 11,61,600 equity shares are allocated to the QIB anchor portion. The qualified institutional buyers category has been allocated up to 7,82,400 equity shares. The non-institutional investors segment has been allocated not less than 5,85,600 equity shares, while retail individual investors have been allocated not less than 13,63,200 equity shares. A total of 2,06,400 equity shares have been reserved for the market maker.

The company plans to utilize the net proceeds from the IPO toward capital expenditure for the purchase of medical equipment for diagnostic centers and laboratories, meeting working capital requirements, repayment of certain outstanding borrowings, and general corporate purposes.

Modern Diagnostic & Research Centre operates in the diagnostic services segment, providing diagnostic and related healthcare testing services across India through its centers and laboratories.

According to the company, the IPO is a fresh issue of shares with no offer-for-sale component. Upon completion of the issue and subject to regulatory approvals, the equity shares are expected to be listed on the BSE SME exchange.

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