Modern Diagnostic & Research Centre Ltd.
MDRCSME
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Overview
Modern Diagnostic & Research Centre Limited is an established provider of diagnostic and related healthcare services in India, offering a comprehensive suite of pathology and radiology tests. Originating in 1985 as a proprietorship and formally incorporated in 2012, the company operates an integrated nationwide network of 3 diagnostic centers and 18 laboratories. It serves a diverse customer base including individual patients, hospitals, and corporate clients, focusing on reliable, patient-centric services supported by advanced technology and a centralized IT platform.
Opening Date
Dec 31, 2025
Closing Date
Jan 02, 2026
Listing Date
Jan 07, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
36.86 Cr
Fresh Issue
36.89 Cr
Offer for Sale
0 Cr
Price Band
₹85 - ₹90
Lot Size
1600
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The net proceeds of the issue are proposed to be utilized to meet the following objectives:
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Funding capital expenditure of ₹2068.95 lakhs for the purchase of medical equipment to establish a new diagnostic center in Lucknow and six new laboratories in Delhi, Meerut, Kanpur, Aligarh, and Chandigarh, thereby expanding the company's geographical footprint and service capabilities.
- •
Funding working capital requirements of ₹800.00 lakhs to support the growing scale of operations, manage inventory, extend credit terms to customers, and ensure operational fluidity as the company expands its network.
- •
Repayment of ₹100.00 lakhs towards certain outstanding borrowings availed from HDFC Bank, which will help reduce the company's overall indebtedness, decrease debt servicing costs, and strengthen the balance sheet.
- •
To fund general corporate purposes, including but not limited to, meeting operating expenses, strengthening business development capabilities, and addressing unforeseen exigencies to support overall business growth.
Key Performance Indicator
P/E Ratio
11.04
EPS
8.15
ROE
55.21%
ROCE
36.18%
RONW
43.27%
Debt to Equity Ratio
—
PAT Margin
11.51%
EBITDA Margin
23.04%
P/B
4.78
SWOT Analysis
Strengths
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Led by an experienced Promoter and management team with deep-rooted expertise in the healthcare industry.
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Provides a comprehensive range of diagnostic services, offering a one-stop solution for both pathology and radiology at competitive prices.
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Strong focus on quality and customer service, evidenced by NABL and NABH accreditations for its key centers.
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Utilizes a centralized and advanced information technology platform to ensure operational efficiency and seamless service delivery.
Weaknesses
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High geographical revenue concentration, with over 65% of revenue originating from the state of Haryana.
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Reliance on pre-owned and refurbished medical equipment for significant expansion plans, which may carry operational risks.
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Lack of a formal dividend policy, which creates uncertainty for investors regarding future returns on their investment.
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Faces intense competition from a highly fragmented market comprising large organized chains and numerous unorganized local labs.
Opportunities
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Expand geographical presence by strategically entering new, under-penetrated domestic markets.
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Increase the breadth of diagnostic test offerings, particularly in high-growth areas like preventive healthcare, genetics, and oncology.
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Capitalize on the growing Indian diagnostic market, which is projected to expand significantly due to rising health awareness.
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Leverage supportive government initiatives such as Ayushman Bharat (AB-PMJAY) to increase patient volumes and service demand.
Threats
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Intense competition from both established players and new entrants could adversely affect market share and profitability.
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Potential changes in government healthcare policies, tax laws, or regulatory frameworks could negatively impact operations.
- •
Global economic slowdowns, political instability, or widespread public health crises could disrupt business and reduce demand.
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Shortage of skilled healthcare professionals in the industry could hinder the ability to attract and retain qualified talent.
Subscription Rate
Frequently Asked Questions about Modern Diagnostic & Research Centre Ltd.
Modern Diagnostic & Research Centre Limited is an established provider of diagnostic and related healthcare services in India, offering a comprehensive suite of pathology and radiology tests. Originating in 1985 as a proprietorship and formally incorporated in 2012, the company operates an integrated nationwide network of 3 diagnostic centers and 18 laboratories. It serves a diverse customer base including individual patients, hospitals, and corporate clients, focusing on reliable, patient-centric services supported by advanced technology and a centralized IT platform.
The Modern Diagnostic & Research Centre Ltd. IPO is scheduled to open for subscription on Dec 31, 2025 and close on Jan 02, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Modern Diagnostic & Research Centre Ltd. IPO is ₹85 to ₹90. Investors can place bids within this range once the issue opens.
The minimum lot size for the Modern Diagnostic & Research Centre Ltd. IPO is 1600 shares. The minimum investment amount ₹1,44,000.
The total issue size of the Modern Diagnostic & Research Centre Ltd. IPO is approximately ₹36.86. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Modern Diagnostic & Research Centre Ltd. IPO has been subscribed 376.9 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Modern Diagnostic & Research Centre Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Modern Diagnostic & Research Centre Ltd. are expected to list on stock exchanges on Jan 07, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Modern Diagnostic & Research Centre Ltd. IPO are proposed to be used for The net proceeds of the issue are proposed to be utilized to meet the following objectives:, Funding capital expenditure of ₹2068.95 lakhs for the purchase of medical equipment to establish a new diagnostic center in Lucknow and six new laboratories in Delhi, Meerut, Kanpur, Aligarh, and Chandigarh, thereby expanding the company's geographical footprint and service capabilities., Funding working capital requirements of ₹800.00 lakhs to support the growing scale of operations, manage inventory, extend credit terms to customers, and ensure operational fluidity as the company expands its network., Repayment of ₹100.00 lakhs towards certain outstanding borrowings availed from HDFC Bank, which will help reduce the company's overall indebtedness, decrease debt servicing costs, and strengthen the balance sheet., To fund general corporate purposes, including but not limited to, meeting operating expenses, strengthening business development capabilities, and addressing unforeseen exigencies to support overall business growth.
Before applying for the Modern Diagnostic & Research Centre Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
