The Modern Diagnostic IPO will open on December 31 and close on January 2. The allotment is expected to be finalized on January 5, with the shares scheduled to list on January 7.
Modern Diagnostic IPO Date, Review, Price, Allotment Details
Posted on: 26 Dec 2025
The Modern Diagnostic IPO will open for subscription on December 31, 2025, and close on January 2, 2026. It is a book-built issue through which the company aims to raise approximately ₹37 crore. The IPO consists entirely of a fresh issue worth ₹37 crore, along with an offer for sale of up to [.] equity shares, each having a face value of ₹10.
The price band for the Modern Diagnostic IPO has been fixed at ₹85 to ₹90 per share. The issue allocation is divided as 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high-net-worth individuals (HNIs). The shares are expected to be listed on the BSE on January 7, 2026, while the IPO allotment is likely to be finalized on January 5, 2026.
On the financial front, the company reported revenue of ₹68.67 crore in FY2024, up from ₹56.61 crore in FY2023. It also recorded a profit of ₹5.79 crore in FY2024, compared to a loss of ₹5.73 crore in the previous year. Based on its improving financial performance, the IPO appears suitable for investors with a long-term investment perspective.
Modern Diagnostic IPO Details
IPO Open Date December 31, 2025 IPO Close Date January 2, 2026 Face Value ₹10 Per Equity Share IPO Price Band ₹85 to ₹90 Per Share Issue Size Approx ₹37 Crores Fresh Issue Approx ₹37 Crores Issue Type Book Build Issue IPO Listing BSE SME DRHP Draft Prospectus 
RHP Draft Prospectus
Modern Diagnostic IPO Market Lot
The minimum market lot for the Modern Diagnostic IPO is 3,200 shares, requiring an application amount of ₹2,88,000.
Application Lot Size Shares Amount Retail Minimum 2 3,200 ₹2,88,000 Retail Maximum 2 3,200 ₹2,88,000 S-HNI Minimum 3 4,800 ₹4,32,000 S-HNI Maximum 6 9,600 ₹8,64,000 B-HNI Minimum 7 11,200 ₹10,08,000
IPO Reservation
Investor Category Share Offered -% Shares Anchor Investor 11,61,600 Shares 28.34% QIB (Ex. Anchor) 7,82,400 Shares 19.09% NII Shares Offered 5,85,600 Shares 14.29% Retail Shares Offered 13,63,200 Shares 33.26%
Modern Diagnostic IPO Anchor Investors
Anchor Bidding Date December 30, 2025 Anchor Investors List Shares Offered 11,61,600 Shares Anchor Size [.] Cr. lock-in period end date 50% shares (30 Days) February 4, 2026 lock-in period end date 50% shares (90 Days) April 5, 2026
Modern Diagnostic IPO Dates
IPO Open Date: December 31, 2025 IPO Close Date: January 2, 2026 Basis of Allotment: January 5, 2026 Refunds: January 6, 2026 Credit to Demat Account: January 6, 2026 IPO Listing Date: January 7, 2026 IPO Bidding Cut-off Time: January 2, 2026 – 5 PM
Promoters and Holding Pattern
The company is promoted by Mr. Devendra Singh Yadav, Mrs. Deepali Yadav, Mrs. Asha Yadav, and Mr. Jitendra Singh.
Particular Shares % Share Promoter Holding Pre Issue 1,10,00,000 99.99% Promoter Holding Post Issue 1,50,99,200 72.85%
Objects of the Issue & Utilisation of proceeds
Purpose Crores Funding capital expenditure for purchase of medical Equipments for diagnostic centre and laboratories ₹20.69 Funding Working Capital Requirement ₹11.60 Repayment of certain outstanding borrowings availed by the Company ₹4.50 General Corporate Purpose ₹-
About Modern Diagnostic IPO
Modern Diagnostic & Research Centre Limited, established in 1985, is a prominent provider of diagnostic and healthcare services in India. The company delivers a comprehensive range of diagnostic solutions across radiology and pathology. It caters to individual patients, hospitals, healthcare institutions, and corporate clients by offering reliable diagnostic tests and related healthcare services.
Its service portfolio includes a wide array of radiology and pathology diagnostics such as ultrasound and colour doppler, CT scan, MRI, digital X-ray, mammography, heart lab, neuro lab, laboratory testing, ECG, CBCT, OPG, PFT, and other advanced diagnostic procedures. In addition, the company offers home sample collection services, ensuring convenience for patients who are unable to visit its centres. At present, Modern Diagnostic operates 21 centres, comprising 17 laboratories and 4 diagnostic centres, spread across 8 states in India.
Modern Diagnostic IPO Company Financial Report
Amount ₹ in Crores
Period Ended Revenue Expense PAT Assets 2023 ₹56.61 ₹62.55 ₹5.73 ₹36.54 2024 ₹68.67 ₹61.81 ₹5.79 ₹49.49 2025 ₹78.80 ₹66.08 ₹8.97 ₹64.57 June 2025 ₹22.67 ₹18.40 ₹3.00 ₹77.86
Modern Diagnostic IPO Valuation – FY2025
Check Modern Diagnostic IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI Values ROE: 55.21% ROCE: 36.18% EBITDA Margin: 23.04% PAT Margin: 11.51% Debt to equity ratio: 1.07 Earning Per Share (EPS): ₹8.15 (Basic) Price/Earning P/E Ratio: N/A Return on Net Worth (RoNW): 43.27% Net Asset Value (NAV): ₹18.84
Peer Group Comparison
Company EPS PE Ratio RoNW % NAV Income Vijaya Diagnostic Centre Limited 13.92 72.36 18.07% 77.42 – Cr.
IPO Lead Managers aka Merchant Bankers
- Beeline Capital Advisors Pvt. Ltd.
Company Address
Modern Diagnostic & Research Centre Limited.
Plot No H-64,1st Floor BLK-H, Bali
Nagar City landmark near Khetar Pal
Hospital, Ramesh Nagar, West Delhi,
New Delhi, Delhi-110015, India
Phone: 9999474297
Email Id: compliance@mdrcindia.com
Website: https://www.mdrcindia.com/
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: moderndiagnostic.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html