Modern Diagnostic IPO opens on Dec 31: Check GMP, key dates, price band

Modern Diagnostic IPO: The initial public offering (IPO) of Modern Diagnostic & Research Centre, a diagnostic chain in India, will open for public subscription on Wednesday, December 31, 2025. Through its maiden share sale, the company seeks to raise ₹36.89 crore, which comprises a fresh issue of 4.1 million equity shares. There is no offer for sale (OFS) component.

 

Modern Diagnostic IPO is being offered at a price band of ₹85 to ₹90 per share, with a lot size of 1,600 shares. At the upper price band, a retail investor will require ₹2,88,000 to bid for two lots consisting of 3,200 shares. 

 

 

Established in 1985, Modern Diagnostics provides diagnostic and related healthcare test services in India. It offers a one-stop solution for pathology and radiology testing services, such as imaging (including radiology), and pathology/clinical laboratory. The company provides healthcare tests and services for use in core testing, patients’ diagnosis and prevention, monitoring of disease and other health conditions. Currently, Modern Diagnostic operates 21 centres, which include 18 laboratories and 3 diagnostic centres in 8 states.

Here are the key details of the Modern Diagnostic IPO:

Modern Diagnostic IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Modern Diagnostic were trading flat at ₹90, the upper end of the price band of ₹85 to ₹90.  ALSO READ | E to E Transportation IPO shines on Day 3; 200x subscription, 83% GMP

Modern Diagnostic IPO key dates

The public issue will remain open for subscription until Friday, January 2, 2026. The basis of allotment for the company’s shares is expected to be finalised on Monday, January 5, while the shares will be credited to investors’ demat accounts on Tuesday, January 6. Modern Diagnostic shares are tentatively scheduled to be listed on the BSE SME platform on Wednesday, January 7, 2025.

Modern Diagnostic IPO registrar, lead manager

MUFG Intime India is acting as the registrar for the public offering, while Beeline Capital Advisors is serving as the sole book-running lead manager.

Modern Diagnostic IPO objective

According to the red herring prospectus (RHP), the company plans to use ₹20.7 crore from the net fresh issue proceeds to purchase medical equipment for the diagnostic centre and laboratories. Additionally, it will utilise ₹8 crore for funding working capital requirements and ₹1 crore for repayment of debt. The remaining funds will be used for general corporate purposes.   ALSO READ | Dhara Rail Projects to list on Dec 31: Here's what latest GMP hints at

Modern Diagnostic IPO financial overview

In the financial year 2025 (FY25), the company had reported a revenue from operations of ₹77.94 crore, up 16 per cent from ₹67.13 crore in the year-ago period. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) came in at ₹17.96 crore in FY25, up 62 per cent from ₹11.05 crore in the previous year. Its profit after tax (PAT) stood at ₹8.96 crore against ₹5.79 crore in FY24.