Modern Diagnostic & Research Centre Limited, a provider of diagnostic and related healthcare testing services in India, is set to open its Initial Public Offering (IPO) on December 31, 2025, aiming to raise ₹36.89 crore at the upper end of the price band through a fresh issue of 40,99,200 equity shares, to be listed on the BSE SME platform.
The company has set the price band at ₹85 to ₹90 per share, with each equity share having a face value of ₹10. The IPO’s anchor portion will open on December 30, 2025, ahead of the public subscription period beginning on December 31 and closing on January 2, 2026.
Equity share allocation for the issue includes a portion for qualified institutional buyers (QIBs) not exceeding 11,61,600 shares, qualified institutional buyers not more than 7,82,400 shares, non‑institutional investors at least 5,85,600 shares, individual investors at least 13,63,200 shares, and a market maker allocation of 2,06,400 shares.
The net proceeds from the IPO will be used to fund capital expenditure for the purchase of medical equipment for diagnostic centres and laboratories, meet working capital requirements, repay certain outstanding borrowings taken by the company, and support general corporate purposes.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the issue, while MUFG Intime India Private Limited will serve as the Registrar to the Issue.
The IPO represents a significant step in Modern Diagnostic & Research Centre Limited’s expansion strategy, supporting enhancements in diagnostic infrastructure and service capabilities as it continues to grow within India’s healthcare testing market.
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