Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Modern Diagnostic IPO
Price Band
₹85.0–90.0
Issue Size
₹36.89 Cr
Lot Size
1,600 shares
Min Investment
₹288,000
2 LOTS MIN
GMP
+₹14.0 (15.56%)
Issue Price
₹90.0
Modern Diagnostic IPO AI Summary
- Modern Diagnostic IPO is listed on BSE SME in the Healthcare Service Provider sector.
- Price band: ₹85.0–₹90.0 per share, lot size 1,600 shares (min. investment ₹288,000, 2 lots minimum).
- Subscription window: 31 Dec–02 Jan 2026, listing on 07 Jan 2026.
- Current GMP is +₹14.0 (15.56%), an estimated listing price of ₹104 — unofficial and can change daily.
Modern Diagnostic & Research Centre Limited is a healthcare service provider focused on diagnostic services, with a strong emphasis on quality and customer service. The company is preparing for its IPO, with a price band of ₹85 to ₹90, and aims to raise funds for capital expenditures and working capital needs.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Modern Diagnostic IPO Grey Market Premium (GMP) Today
GMP
+₹14.0
GMP %
+15.56%
Est. Listing
₹104.0
Updated: 14 Jul 2026 15:53
About the Company
Incorporated in 1985, Modern Diagnostic & Research Centre Limited (MDRC) is a diagnostic chain in India, offering a comprehensive range of pathology and radiology services. The company provides reliable diagnostic tests, home specimen collection, online reports, and customized test packages for institutional customers and patients based on their specific needs. The company operates 21 centers (18 labs, 3 diagnostic centers) across 8 states, offering diagnostic services like ultrasound, CT, MRI, X-ray, ECG, PFT, and specialized labs for heart and neuro care. Services: Pathology:MDRC provides a wide array of tests, including high-end molecular diagnostics, cytogenetics, and specialized panels for genetic disorders and cancer. Radiology:The centre offers advanced imaging services such as MRI, CT scans, ultrasound, and digital X-rays, utilizing state-of-the-art equipment like a 3-Tesla MRI machine and a 128-slice CT scanner. Home Sample Collection:MDRC offers home blood sample collection services in several cities, providing convenience for patients unable to visit the centre. Competitive Strengths: Experienced Promoter and Management Team Comprehensive diagnostics provider delivering all-in-one solution at cost-effective prices Focus on quality and customer service Centralized information technology platform
Company Financials (₹ Cr)
As of 2025-06-30
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 77.86 | 64.57 | 49.49 | 36.54 |
| Total Income | 22.67 | 78.80 | 68.67 | 56.61 |
| Profit After Tax | 3.00 | 8.97 | 5.79 | -5.73 |
| EBITDA | 5.86 | 17.96 | 11.05 | -0.99 |
| NET Worth | 23.72 | 20.73 | 11.76 | 5.96 |
| Reserves and Surplus | 12.72 | 9.73 | 10.76 | 4.96 |
| Total Borrowing | 30.38 | 22.09 | 20.46 | 15.31 |
Key Ratios
EPS
₹8.15
NAV
₹18.84
ROE
55.21%
ROCE
36.18%
RoNW
43.27%
P/B Value
4.78
P/E Ratio
11.04
Market Cap
₹135.89 Cr
PAT Margin
11.51%
Debt/Equity
1.07
Promoters
Devendra Singh Yadav, Deepali Yadav, Asha Yadav and Jitendra Singh
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure for purchase of medical Equipments for diagnostic centre and laboratories 20.69 2 Funding working capital requirements of the Company 8.00 3 Repayment of certain outstanding borrowings availed by the Company 1.00 4 General Corporate Expenses 3.33 5 Issue Expenses 3.87 Total 36.89
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹56.61 Cr in the year ended 31 Mar 2023, increasing to ₹68.67 Cr by 31 Mar 2024, then rising further to ₹78.80 Cr in the year ended 31 Mar 2025. However, for the period ending 30 Jun 2025, total income decreased to ₹22.67 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax (PAT) was -₹5.73 Cr in the year ended 31 Mar 2023, improving to ₹5.79 Cr by 31 Mar 2024. This trend continued with PAT rising to ₹8.97 Cr in the year ended 31 Mar 2025, but then it fell to ₹3.00 Cr for the period ending 30 Jun 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO. It reflects the demand for the shares before they are officially listed on the stock exchange. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as the company's growth potential and market conditions.
Who May Want to Wait
Investors with a low risk tolerance or those looking for stable, established companies may want to avoid IPOs like this that can be subject to significant price fluctuations.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 31 December 2025 and closes on 2 January 2026, with allotment scheduled for 5 January 2026 and listing on 7 January 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-IPO.
This evaluation is generated from Modern Diagnostic's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Modern Diagnostic IPO GMP today?
Modern Diagnostic IPO GMP today is +₹14.0 (15.56%), indicating an estimated listing price of ₹104. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Modern Diagnostic IPO?
The price band of Modern Diagnostic IPO is ₹85.0–₹90.0 per share.
When does Modern Diagnostic IPO open and close?
Modern Diagnostic IPO opens on 31 December 2025 and closes on 02 January 2026.
When does Modern Diagnostic IPO list on the stock exchange?
Modern Diagnostic IPO listed on 07 January 2026 at ₹104.0.
What is the lot size for Modern Diagnostic IPO?
The lot size for Modern Diagnostic IPO is 1600 shares, requiring a minimum investment of ₹288,000 (2 lots).
What is the issue price of the IPO?
The issue price of the IPO is ₹90.0.
What is the minimum investment required?
The minimum investment required is ₹288,000.
What is the lot size for this IPO?
The lot size for this IPO is 1,600 shares.
When is the listing date for the IPO?
The listing date for the IPO is 7 January 2026.
What does GMP stand for?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO shares.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
31 Dec 2025
Close
02 Jan 2026
Allotment
05 Jan 2026
Listing
07 Jan 2026
Similar IPOs in Healthcare Service Provider
Plan Your IPO Investment
Related Articles
Community Sentiment
What are other investors planning for Modern Diagnostic?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.