The initial public offering (IPO) of Modern Diagnostic & Research Centre, a well-known diagnostics company, opens for subscription today.
This is also the last IPO of the year 2025. Investors can apply for this IPO until January 2, 2026.
This IPO is a book-built issue, meaning the final price will be decided within a fixed price band based on investor demand.
Through this IPO, the company aims to raise ₹36.89 crore by issuing 0.41 crore fresh equity shares. There is no Offer for Sale (OFS) in this issue, which means existing shareholders are not selling their stake.
IPO Price Band and Grey Market Premium (GMP)
The price band for the Modern Diagnostic IPO has been fixed at ₹85 to ₹90 per share.
According to data available from InvestorGain, shares of Modern Diagnostic were trading at a grey market premium (GMP) of ₹10 on the morning of December 31.
Based on the upper price band of ₹90, the estimated listing price is around ₹100 per share.
This indicates a possible listing gain of about 11.11% per share. However, investors should remember that GMP is an unofficial indicator. It can change frequently and does not guarantee profits or losses on the listing day.
IPO Lot Size and Investment Details
Each lot in this IPO consists of 1,600 shares.
Retail Investors
Retail investors must apply for a minimum of two lots, which equals 3,200 shares.
At the upper price band of ₹90 per share, this requires an investment of approximately ₹2.88 lakh.
HNI Investors
High Net-worth Individuals (HNIs) need to apply for at least three lots, or 4,800 shares.
This will require an investment of around ₹4.32 lakh.
IPO Management and Listing Details
Book Running Lead Manager: Beeline Capital Advisors
Registrar to the Issue: MUFG Intime India
Market Maker: SpreadX Securities
The company’s shares will be listed on the BSE SME platform, and the listing date is January 7, 2026.
Important IPO Dates to Remember
IPO Opening Date: December 31, 2025
IPO Closing Date: January 2, 2026
Allotment Date: January 5, 2026
Refund Initiation: January 6, 2026
Shares Credited to Demat Account: January 6, 2026
Listing Date: January 7, 2026
About Modern Diagnostic & Research Centre
Modern Diagnostic & Research Centre is a diagnostic services chain in India. The company provides a wide range of pathology and radiology services. Its offerings include diagnostic tests, home sample collection, online test reports, and customized health test packages for both individual patients and institutional clients.
The company currently operates 21 centers across eight Indian states, which include 18 laboratories and three diagnostic centers. With its expanding network and service offerings, the company aims to strengthen its presence in the healthcare diagnostics sector.
