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Invicta Diagnostic Limited, operating under the brand 'PC Diagnostics', is a prominent diagnostic chain concentrated in the Mumbai Metropolitan Region (MMR). The company provides a comprehensive suite of radiology and pathology services through its network of 7 diagnostic centres and one centralized laboratory. Utilizing a 'hub and spoke' model, it delivers integrated diagnostics, ranging from basic tests at spoke centres to advanced imaging like MRI, CT, and PET-CT scans at its flagship and hub locations, positioning itself as a one-stop solution for patients.
Dec 01, 2025
Dec 03, 2025
Dec 08, 2025
SME
Closed
28.12 Cr
28.12 Cr
0 Cr
₹80 - ₹85
1600
The net proceeds from this issue are proposed to be utilized for the following key objectives:
Funding the capital expenditure of ₹21.11 Crores for the purchase of medical equipment to establish five new diagnostic 'hub' centres in key Maharashtra locations, including Kalyan, Vasai-Virar, Malad-Kandivali, and Akola, as part of the company's 'hub and spoke' expansion model.
Allocating a portion of the proceeds for general corporate purposes, which may include meeting working capital requirements, funding growth opportunities, and covering other operational expenses, not to exceed 15% of the gross proceeds.
5.26
9.4
44.28%
42%
36.25%
—
16.38%
30.57%
5.26
Expanding presence in the Mumbai Metropolitan Region (MMR) with a specific focus on the high-growth radiology sector.
Provides a one-stop solution for a wide range of pathology and advanced radiology tests at affordable prices.
Possesses strong technical capabilities with modern IT infrastructure including LIMS and PACS, and advanced diagnostic equipment.
Led by a dedicated management team with significant experience and expertise in the diagnostics industry.
Heavy reliance on a concentrated geographical area, with all diagnostic centers located in the Mumbai Metropolitan Region.
Dependence on third-party suppliers for critical diagnostic equipment and reagents, posing supply chain risks.
High operating costs associated with expensive medical equipment, reagents, and the need for specialized personnel.
Limited operating history as the entity was incorporated in 2021, which may affect long-term performance evaluation.
Significant growth potential in the Indian diagnostic market, which is projected to expand at a double-digit CAGR.
Rising health awareness and a growing focus on preventive healthcare are increasing the demand for regular diagnostic testing.
The expanding medical tourism sector in India creates new opportunities for high-quality diagnostic service providers.
Opportunity to expand into underserved Tier 2 and Tier 3 cities in Maharashtra and beyond, tapping into new markets.
Intense competition from established national chains, hospital-based labs, and new entrants from adjacent healthcare sectors.
Rapid technological advancements in diagnostics may require frequent and costly equipment upgrades to remain competitive.
Potential for reputational damage and legal liability arising from misdiagnosis, errors, or lapses in quality control.
Exposure to regulatory risks from changing laws, rules, and interpretations in the healthcare and taxation domains.