Invicta Diagnostic Limited
Bookbuilding IPO · NSE
- Price band
- ₹80 - ₹85
- Lot size
- 1,600 shares
- Issue amount
- ₹28.12 cr
- Total subscription
- 4.34×
- Opens
- 1 Dec 2025
- Closes
- 3 Dec 2025
- Allotment
- 4 Dec 2025
- Listing
- 8 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 33,08,800 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,28,000
- Fresh issue
- ₹28.12 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,36,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 92,63,173
- Shares after issue
- 1,25,71,973
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,72,000 |
| sHNI | 3 | 4,800 | ₹4,08,000 |
| bHNI | 8 | 12,800 | ₹10,88,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 3 |
| NIB | 0 | 407 |
| RETAIL | 396 | 1,363 |
| HNIs(10L +) | 75 | 189 |
| HNIs (2-10L) | 38 | 218 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 4.54 | 15.94 |
| Others | 0 | 15.94 |
| RETAIL | 10.77 | 37.07 |
| NIB | 4.61 | 33.5 |
| HNIs 2+ | 1.54 | 9.64 |
| HNIs 10+ | 3.07 | 23.85 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 4.59 | 5.86 | 4.52 |
| ROE | 21.91 | 44.28 | 55.53 |
| ROCE | 22.8 | 42 | 56.04 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 15.97 | 0 |
| POST IPO(PE) | 13.08 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Invicta Diagnostic Limited | 15.97 | 0 | 10.00 | 16.15 | 36.25 | 5.86 |
| Vijaya Diagnostic Centre Limited | 72.22 | 1007.4 | 1.00 | 77.86 | 17.99 | 13.95 |
| Krsnaa Diagnostics Limited | 34.39 | 826.8 | 5.00 | 272.54 | 8.79 | 24.04 |
Company information
Company profile
Incorporated in January 2021, Invicta Diagnostic Limited (operating as PC Diagnostics) is a Mumbai-based diagnostic services provider offering integrated radiology and pathology solutions through a hub-and-spoke model spread across the Mumbai Metropolitan Region, comprising a flagship advanced diagnostic hub in Thane West, three additional hubs in Bhayandar, Byculla, and Marol, and four spokes focused on basic imaging and sample collection; the company provides around 60 routine and 487 specialised pathology tests along with 96 basic and 130 advanced radiology tests, supported by a strong home-collection network and a team of 5 laboratory doctors, 20 radiologists, 127 technical staff, and 105 permanent employees as of May 31, 2025.
Strengths
- Expanding Footprint Across Mumbai Metropolitan Region: Rapid growth from one centre in 2021 to seven multi-format diagnostic facilities (hubs, spokes, and a central lab) enhances accessibility and strengthens market presence.
- Comprehensive & Affordable Diagnostic Services: A one-stop offering of pathology and radiology solutions delivers convenience, faster diagnostics, and cost-effective care for patients under the “PC Diagnostics” brand.
- Advanced Technology & Skilled Medical Team: Modern imaging infrastructure including CT, MRI, and PET CT systems supported by experienced radiologists ensures accurate, high-quality, and efficient diagnostic outcomes.
Risk factors
- High Sensitivity to Brand Image & Patient Experience: Heavy reliance on walk-in customers means even small lapses in service quality, test accuracy, or turnaround time can damage reputation and impact revenue growth.
- Operational Dependence on Flagship Thane Centre: Centralized processing of majority tests at one key facility exposes the business to major disruptions in case of equipment failure, regulatory issues, or unforeseen events.
- Geographic Concentration Risk in MMR: Entire revenue comes from the Mumbai Metropolitan Region, making performance highly vulnerable to regional economic, policy, or healthcare disruptions.
Promoters
Dr. Ketan Jayantilal Jain
Dr. Sanket Vinod Jain
Rohit Prakash Srivastava
Badal Kailash Naredi
Jayesh Prakash Jain
Registrar & documents
Lead manager
Socradamus Capital Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
1 GF, Plot 217, Ambavat Bhavan N.M Joshi Marg Delisle Road Mumbai, Maharashtra, 400013
022 - 4971 0036
[email protected]Company website ↗Understanding INVICTA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.