Modern Diagnostic

The Modern Diagnostic & Research Centre Limited IPO is a book-built SME issue that opened for subscription today, December 31, 2025, and will conclude on January 2, 2026. Priced between ₹85 and ₹90 per share, the company aims to raise approximately ₹37 crores through a fresh issue of shares to fund capital expenditures for medical equipment, working capital, and debt repayment. Since its inception in 1985, the company has grown into a significant diagnostic provider with 21 centers across 8 states, offering integrated radiology and pathology services. Financially, the company has demonstrated a strong turnaround, reporting a profit of ₹8.97 crores in FY25 (up 55% from the previous year) on a revenue of ₹78.8 crores, recovering from historical losses in FY23. Early grey market indicators suggest a modest positive sentiment with a GMP of roughly 12% as the issue opens. With a retail quota of 35% and a minimum investment requirement of ₹2,88,000 for two lots, analysts generally view this as a potential long-term play for investors looking for exposure to the growing healthcare diagnostics sector.