Pramodini Medicare’s IPO has concluded its bidding window with a total subscription of 1.26x. The issue saw strong interest from Qualified Institutional Buyers (QIB), who subscribed 1.81x, driving the overall oversubscription. Non-Institutional Investors (NII) contributed significantly, with high-net-worth individuals (bHNI) jumping to 0.90x and small HNI (sHNI) at 0.63x by the close. However, the Retail category remained unsubscribed at 0x. The IPO is now fully subscribed, and allotments will be processed shortly.

Final Subscription Status

The final subscription numbers reflect steady interest from institutional and high-net-worth investors throughout the bidding period, with a notable pickup in NII participation towards the end of Day 3.

Category-wise Breakdown

• QIB: The category was heavily subscribed at 1.81x, indicating strong institutional confidence in the company’s diagnostic services model.
• NII: High-net-worth individuals (bHNI) booked 0.90x, showing a significant increase from earlier in the day, while small HNIs (sHNI) subscribed 0.63x.
• Retail: There was no participation from retail investors in this issue.

About the Company

Pramodini Medicare is a diagnostic service provider in India offering technology-enabled diagnostic services including radiology, clinical laboratory, and nuclear medicine services. Founded in 2000, the company operates through four key models: Public Private Partnership, Private Private Partnership, Strategic Partnership with PSUs, and Private Centres. As of the filing date, it operates 16 diagnostic centres across 7 states and 14 cities in India. The company is led by Dr. Chalasani Kuldeep Kumar (MD) and Dr. Chalasani Kavitha (CEO).

Financial Highlights

The company has demonstrated consistent revenue growth over the last three years.

Revenue grew from ₹35.23 crores in FY 2024 to ₹62.29 crores in FY 2026. Total profit increased from ₹6.93 crores to ₹17.38 crores over the same period.

Objects of the Issue

• Capital Expenditure: ₹45.15 crores to purchase and install medical equipment across existing centres in Hubli, Manjeri, and Vijayawada, and establish a new centre in Bangalore.
• General Corporate Purposes: Funds for evaluating inorganic growth opportunities through mergers and acquisitions and meeting general corporate expenses.

Risk Factors

• Dependence on Government PPP Arrangements: 54.19% of revenue is derived from Public Private Partnership arrangements; non-renewal or payment delays could impact operations.
• Heavy Concentration on Radiology Services: 97.05% of revenue comes from radiology services, exposing the company to capital-intensive equipment risks.
• Geographic Revenue Concentration: 61.90% of revenue is derived from Andhra Pradesh, making the business vulnerable to regional economic slowdowns.

What's Next

• Allotment Date: 2026-08-17
• Listing Date: 2026-08-19
• Basis of Allotment: Since the issue is oversubscribed, allotment will be made on a pro-rata basis for all categories except QIB, where it may be discretionary or pro-rata depending on SEBI guidelines.