Modern Diagnostic & Research Centre Plans ₹37 Crore IPO on BSE SME Platform
Modern Diagnostic & Research Centre plans to raise ₹37.00 crore through a BSE SME IPO, offering 40.99 lakh shares at ₹85.00-₹90.00 per share. The issue opens December 31 for retail investors, with proceeds funding medical equipment purchases, working capital, debt repayment, and expansion initiatives. Management expects the capital to enhance testing capabilities and support network expansion across diagnostic centres.
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Modern Diagnostic & Research Centre, a diagnostic and healthcare testing services provider, has announced its plans to raise ₹37.00 crore through an initial public offering on the BSE SME platform. The company aims to strengthen its market position and expand operations through this capital infusion.
IPO Structure and Pricing
The public offering involves the dilution of 40.99 lakh equity shares with a price band set between ₹85.00 and ₹90.00 per share. The issue is scheduled to open for bidding by retail investors on December 31, providing an opportunity for individual investors to participate in the company's growth story.
| Parameter: | Details |
|---|---|
| Issue Size: | ₹37.00 crore |
| Shares Offered: | 40.99 lakh equity shares |
| Price Band: | ₹85.00 - ₹90.00 per share |
| Opening Date: | December 31 |
| Platform: | BSE SME |
Fund Utilization Strategy
The net proceeds from the IPO will be allocated across multiple strategic initiatives to enhance the company's operational capabilities. The funds will support:
- Purchase of medical equipment for diagnostic centres and laboratories
- Working capital requirements to support day-to-day operations
- Repayment of certain outstanding borrowings
- General corporate purposes
Management Perspective and Growth Plans
Dr. Devendra Singh Yadav, Chairman and Managing Director of Modern Diagnostic & Research Centre, emphasized the strategic importance of the proposed IPO. He stated that the offering will provide the company with financial strength to accelerate its expansion strategy and acquire advanced medical equipment.
The leadership expects the investments to deliver multiple operational benefits, including enhanced testing capabilities, improved turnaround times, and consistent high-quality diagnostic services across all locations. The company plans to strengthen its diagnostic and laboratory infrastructure while expanding its network of centres.
Advisory and Registration Services
Beeline Capital Advisors has been appointed as the Book-Running Lead Manager for the issue, responsible for managing the IPO process. MUFG Intime India will serve as the Registrar, handling investor registration and related services for the public offering.
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