Modern Diagnostic & Research Centre Ltd. IPO: Modern Diagnostic and Research Center Ltd is preparing for its initial public offering, which is structured as a book-form issue with an aggregate value of approximately ₹36.89 crore. The entire issue comprises fresh release of 0.41 crore equity shares.
Modern Diagnostic & Research Centre Ltd. IPOÂ Overview
The IPO of Modern Diagnostic & Research Centre Limited is a joint fresh issue and offers for sale. The company has fixed the price band for the IPO between ₹85 to ₹90 per share. Aiming to be listed on the BSE SME platform, this IPO represents an important milestone for the healthcare provider as it looks to leverage capital markets for the next phase of its growth.
| Details | Descriptions |
|---|---|
| IPO Date | 31 Dec, 2025 to 2 Jan, 2026 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹85 to ₹90 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 40,99,200 shares (agg. up to ₹37 Cr) |
| Fresh Issue | |
| Offer for Sale | |
| Reserved for Market Maker | 2,06,400 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 38,92,800 shares (agg. up to ₹35 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,10,00,000Â shares |
| Share Holding Post Issue | 1,50,99,200Â shares |
Modern Diagnostic & Research Centre Ltd. IPOÂ Schedule
The IPO timeline is set to run until the end of the year, making it one of the last major SME offerings of 2025. The subscription window officially opens on December 31, 2025, and will remain active until January 2, 2026. After the bidding process, the basis of allotment is expected to be finalized on January 5, 2026. For those who do not get allotment, refunds are likely to be started on January 6, while the successful bidders will be eligible. View shares credited to their demat accounts on the same day. The tentative listing date is set for January 7, 2026.
| Details | Description |
|---|---|
| IPO Open Date | Wed, Dec 31, 2025 |
| IPO Close Date | Fri, Jan 2, 2026 |
| Tentative Allotment | Mon, Jan 5, 2026 |
| Initiation of Refunds | Tue, Jan 6, 2026 |
| Credit of Shares to Demat | Tue, Jan 6, 2026 |
| Tentative Listing Date | Wed, Jan 7, 2026 |
| Cut-off time for UPI mandate confirmation |
Modern Diagnostic & Research Centre Ltd. IPO Lot Size Details
To participate in this IPO, investors must adhere to specific lot sizes. The minimum application size is fixed at 1,600 shares, which at the upper price band of ₹90, translates to a minimum investment of ₹1,44,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,88,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,88,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,32,000 |
| S-HNI (Max) | 6 | 9,600 | ₹8,64,000 |
| B-HNI (Min) | 7 | 11,200 | ₹10,08,000 |
Modern Diagnostic & Research Centre Ltd. IPO Allocation
The equity shares are distributed across various investor categories to ensure balanced participation. Out of the total 40,99,200 shares offered:
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 19,44,000 (47.42%) |
| NII (HNI) Shares Offered | 5,85,600 (14.29%) |
| Market Maker Shares Offered | 2,06,400 (5.04%) |
| Retail Shares Offered | 13,63,200 (33.26%) |
| Total Shares Offered | 40,99,200 (100.00%) |
Modern Diagnostic & Research Centre Ltd. IPOÂ Promoter Holding
Prior to the public issue, the company’s promoters—specifically Dr. Seema J. Bedi and Dr. Ajay S. Bedi—hold a dominant stake of 99.99%. Following the completion of the IPO and the issuance of fresh shares, the promoter holding is expected to dilute to approximately 72.85%.
| Details | Promoter Holding (%) |
|---|---|
| Promoter Holding Pre Issue | 99.99% |
| Promoter Holding Post Issue | 72.85% |
About of Modern Diagnostic & Research Centre Ltd.
Incorporated in 1985, Modern Diagnostic & Research Centre Ltd. (MDRC) has established itself as a reputable diagnostic chain in India. The company offers an extensive suite of pathology and radiology services under one roof. Currently, it operates 21 centers (comprising 18 laboratories and 3 comprehensive diagnostic centers) across 8 Indian states. Their service portfolio is diverse, ranging from routine blood tests and ultrasound to advanced imaging like CT and MRI scans, as well as specialized cardiac and neurological diagnostics.
Company Financials
Modern Diagnostic & Research Centre Ltd. Financial Information (Restated Standalone)
The company has demonstrated robust financial performance in recent years. For the financial year ending March 31, 2025, MDRC reported a total income of approximately ₹74.87 crores, showing steady growth compared to ₹64.91 crores in the previous year. More impressively, the Profit After Tax (PAT) saw a significant jump of 55%, rising from ₹8.05 crores in FY24 to ₹12.48 crores in FY25. As of June 30, 2025, the company’s total assets stood at ₹77.86 crores, reflecting a healthy balance sheet and a strong foundation for its upcoming expansion.
| Period Ended | 31-Mar-25 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 182.83 | 181.25 | 184.13 |
| Total Income | 724.66 | 581.18 | 199.88 |
| Profit After Tax | 13.08 | 12.18 | 6.02 |
| EBITDA | 32.87 | 34.72 | 25.10 |
| Net Worth | 79.44 | 66.36 | 54.18 |
| Reserves and Surplus | 59.98 | 46.90 | 49.75 |
| Total Borrowing | 67.11 | 90.58 | 113.78 |
Key Performance Indicator (KPI)
The market cap. of Modern Diagnostic & Research Centre Ltd. IPO is ₹37 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 55.21 |
| ROCE | 36.18% |
| Debt/Equity | 1.07 |
| RoNW | 43.27% |
| PAT Margin | 11.51% |
| EBITDA Margin | 23.04 |
| Price to Book Value | 4.78 |
Modern Diagnostic & Research Centre Ltd. Contact Details
- Modern Diagnostic & Research Centre Ltd.
- Survey 279 & 280, Unit No.13, Sub Plot No. 18
- Sector 3 of Dholi Integrated Spinning Park,
- Ahmedabad, Gujarat, 382240
- Phone: 91 70690 08810
- Email: cs@siddhicotspin.com
- Website: http://www.siddhicotspin.com/
Modern Diagnostic & Research Centre Ltd. IPOÂ Registrar
MUFG Intime India Pvt.Ltd.
| Details | Descriptions |
|---|---|
| Phone: | +91-22-4918 6270 |
| Email: | moderndiagnostic.smeipo@in.mpms.mufg.com |
| Website: | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Modern Diagnostic & Research Centre Ltd. IPOÂ FAQs
When Modern Diagnostic & Research Centre Ltd. will open?
The VMS TMT Ltd. IPO will open on Wed, Dec 31, 2025.
What is the lot size of Modern Diagnostic & Research Centre Ltd.?
The lot size is 1600 shares
How to apply for Modern Diagnostic & Research Centre Ltd.?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
When is Modern Diagnostic & Research Centre Ltd. allotment
The allotment is expected to be finalized on Mon, Jan 5, 2026.
When is Modern Diagnostic & Research Centre Ltd. listing date?
The tentative listing date is Wed, Jan 7, 2026.
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