NewsPramodini Medicare IPO Day 3: Issue subscribed 3.59x so far. Check issue details and key datesPramodini Medicare IPO Day 3: Issue subscribed 3.59x so far. Check issue details and key dates
Pramodini Medicare IPO closed with a 3.59x subscription. NII (bHNI) surged 688.7% on Day 3, while QIB rose to 3.57x. Retail participation was nil. Allotment is expected on 2026-08-17, with listing on 2026-08-19. The company reported ₹62.29 crore revenue in FY 2026.
*this image is generated using AI for illustrative purposes only.
Pramodini Medicare’s IPO closed with a total subscription of 3.59x by the end of Day 3 on 14-08-2026. The issue witnessed a dramatic momentum shift in the final hours, with Non-Institutional Investors (NII), specifically high-net-worth individuals (bHNI), surging 688.7% intraday from 0.53x to 4.18x. Qualified Institutional Buyers (QIB) also strengthened their position, rising from 1.81x to 3.57x. With the window now closed, the focus shifts to allotment processing for the oversubscribed issue.
Final Subscription Status
The final numbers reflect a robust pickup in NII and QIB participation during the last trading hours of Day 3, pushing the overall multiple well above the fully subscribed mark.
| Category | Subscription Multiple |
|---|---|
| QIB | 3.57x |
| NII (bHNI) | 4.18x |
| NII (sHNI) | 4.18x |
| Retail | 0.00x |
| Total | 3.59x |
Category-wise Breakdown
- QIB: Institutional investors increased their subscription from 1.81x to 3.57x (+97.2%) on the final day, indicating growing confidence in the diagnostic services model.
- NII: High-net-worth individuals (bHNI) showed explosive late-stage activity, jumping from 0.53x to 4.18x (+688.7%) on Day 3. Small HNIs (sHNI) also increased participation to 4.18x.
- Retail: There was no participation from retail investors throughout the subscription period.
Subscription Progression
The table below highlights the daily progression of the subscription multiples.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 13-08-2026 | 1.81x | 0.40x | 0.63x | 0.00x | 0.98x |
| Day 2 | 14-08-2026 | 3.57x | 4.18x | 5.47x | 0.00x | 3.59x |
Intra-day timeline on 14-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 1.81x | 0.53x | 0.00x | 1.14x |
| 06:45 | 1.81x | 0.63x | 0.00x | 1.26x |
| 07:45 | 1.81x | 0.80x | 0.00x | 1.38x |
| 08:45 | 1.81x | 1.23x | 0.00x | 1.56x |
| 09:45 | 2.08x | 2.17x | 0.00x | 2.08x |
| 10:45 | 3.57x | 4.18x | 0.00x | 3.59x |
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.
| Particulars | FY 2024 (₹ crores) | FY 2025 (₹ crores) | FY 2026 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 35.23 | 38.24 | 62.29 |
| Total Profit (PAT) | 6.93 | 11.03 | 17.38 |
| Total Equity | 24.75 | 35.77 | 53.15 |
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.
How might the complete lack of retail investor participation impact the stock's liquidity and price volatility in the initial weeks post-listing?
Given that 54.19% of revenue relies on government PPP arrangements, what are the potential risks associated with policy changes or payment delays from public sector partners in the coming fiscal year?
With nearly 97% of revenue derived from radiology services, how does the company plan to diversify its service portfolio to mitigate the capital-intensive risks associated with heavy equipment dependency?
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