Modern Diagnostic & Research Centre Limited
Bookbuilding IPO · BSE
- Price band
- ₹85 - ₹90
- Lot size
- 1,600 shares
- Issue amount
- ₹37 cr
- Total subscription
- 376.97×
- Opens
- 31 Dec 2025
- Closes
- 2 Jan 2026
- Allotment
- 5 Jan 2026
- Listing
- 7 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 40,99,200 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,36,000
- Fresh issue
- ₹37 cr
- Offer for sale
- ₹0 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,44,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,10,00,000
- Shares after issue
- 1,50,99,200
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,88,000 |
| sHNI | 3 | 4,800 | ₹4,32,000 |
| bHNI | 7 | 11,200 | ₹10,08,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 2 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 426 | 1,45,889 |
| HNIs(10L +) | 81 | 28,729 |
| HNIs (2-10L) | 41 | 14,791 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 7.04 | 1,362.6 |
| RETAIL | 12.27 | 4,201.6 |
| NIB | 5.27 | 3,702.11 |
| HNIs 2+ | 1.76 | 668.58 |
| HNIs 10+ | 3.51 | 3,033.53 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 0 | 0 | 0 | 0 |
| ROE | 13.49 | 55.21 | 65.4 | -64.92 |
| ROCE | 9.54 | 36.18 | 25.27 | -17.18 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 11.04 | 0 | 0 |
| POST IPO(PE) | 11.33 | 0 | 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) (₹) |
|---|---|---|---|---|---|---|
| Vijaya Diagnostic Centre Ltd | 72.36 | 0 | 1 | 77.42 | 18.07 | 13.92 |
| Modern Diagnostic & Research Centre Ltd | 0 | 0 | 10 | 18.84 | 43.27 | 8.15 |
Company information
Company profile
Incorporated in 1985, Modern Diagnostic & Research Centre Limited is an India-based diagnostic service provider offering a wide range of pathology and radiology services to patients and institutions. The company delivers reliable diagnostic testing along with home sample collection, online report access, and customized health packages designed to meet individual and institutional requirements. It operates 21 centres, including 17 laboratories and 4 diagnostic centres, spread across 8 states, and provides services such as ultrasound, CT scan, MRI, X-ray, ECG, PFT, and specialized diagnostic facilities for cardiac and neurological care. Its pathology services cover routine tests as well as advanced molecular diagnostics, cytogenetics, and specialized testing for genetic disorders and cancer, while radiology services include MRI, CT scans, ultrasound, and digital X-rays using modern equipment. As of February 28, 2025, the company has a workforce of 570 employees, including doctors and consultants.
Strengths
- Wide diagnostic service portfolio: Offers comprehensive pathology and radiology services, including advanced imaging and specialised tests for cardiac, neurological, genetic, and cancer diagnostics.
- Strong operational network: Operates 21 centres across 8 states, enabling wider reach and improved accessibility for patients and institutional clients.
- Experienced medical workforce: Backed by qualified doctors, consultants, and technical staff, ensuring reliable testing, accurate reports, and consistent service quality.
Risk factors
- High capital investment requirement: Continuous spending is needed for advanced diagnostic equipment, technology upgrades, and maintenance.
- Regulatory and compliance dependence: Operations are subject to healthcare regulations, accreditations, and quality standards, which can increase operational complexity and costs.
- Intense industry competition: Faces strong competition from large national diagnostic chains and local players, which may impact pricing power and profit margins.
Promoters
Mr. Devendra Singh Yadav
Mrs. Deepali Yadav
Mrs. Asha Yadav
Mr. Jitendra Singh
Registrar & documents
Lead manager
Beeline Capital Advisors Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No H-64,1st Floor BLK-H, Bali Nagar City landmark near Khetar Pal Hospital, Ramesh Nagar, West Delhi West Delhi, New Delhi, 110015
9999474297
[email protected]Company website ↗Understanding MDRCL 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.