Modern Diagnostic IPO Review 2025: GMP, Price Band, Dates, Financials, Risks & Should You Invest?
The Modern Diagnostic IPO is an SME public issue by Modern Diagnostic & Research Centre Ltd, operating in the Indian healthcare diagnostics sector. The company provides pathology and radiology testing services across India and is now entering the capital market to raise funds for business growth and operational strengthening.
In this article, we cover Modern Diagnostic IPO details, issue dates, price band, financial performance, strengths, risks, FAQs, and an investor-focused analysis, making it a complete SEO-friendly IPO guide.
Modern Diagnostic IPO Details
| Particulars | Details |
|---|---|
| IPO Name | Modern Diagnostic IPO |
| Company Name | Modern Diagnostic & Research Centre Ltd |
| IPO Type | SME IPO |
| Exchange | BSE SME |
| Issue Size | ₹36.89 Crore |
| Face Value | ₹10 per share |
| Price Band | ₹85 – ₹90 per share |
| Lot Size | 1,600 shares |
| Minimum Investment | ₹2,72,000 |
| Issue Opening Date | 31 December 2025 |
| Issue Closing Date | 02 January 2026 |
| Tentative Allotment Date | 05 January 2026 |
| Tentative Listing Date | 07 January 2026 |
| Registrar | MUFJ Intime India Pvt. Ltd |
About Modern Diagnostic & Research Centre Ltd
Founded in 2012, Modern Diagnostic & Research Centre Ltd is engaged in providing diagnostic and related healthcare test services in India. The company operates in both pathology and radiology segments, offering imaging and clinical laboratory testing for core diagnostics.
The company focuses on:
-
Advanced diagnostic technologies
-
Clinical laboratory testing
-
Radiology services
-
Digital reporting and patient access systems
Key Management
-
MD / CEO: Mr. Devendra Singh Yadav
-
Parent Organisation: Modern Diagnostic & Research Centre Ltd
Modern Diagnostic IPO Objectives
Although detailed utilization is available in the RHP, the broad objectives include:
-
Strengthening operational capabilities
-
Supporting working capital requirements
-
Enhancing diagnostic infrastructure
-
General corporate purposes
Modern Diagnostic Financial Performance
Revenue (₹ in Crore)
| Financial Year | Revenue |
|---|---|
| FY 2022 | ₹60.21 Cr |
| FY 2023 | ₹66.28 Cr |
| FY 2024 | ₹87.13 Cr |
➡️ Revenue shows consistent growth, indicating increasing demand for diagnostic services.
Profit (₹ in Crore)
| Financial Year | Profit |
|---|---|
| FY 2022 | -₹1.48 Cr |
| FY 2023 | -₹7.83 Cr |
| FY 2024 | ₹5.79 Cr |
➡️ The company turned profitable in FY 2024, which is a positive sign for investors, though past losses remain a concern.
Strengths of Modern Diagnostic IPO
✅ Comprehensive Diagnostic Services
The company claims to operate as a full-service diagnostic provider, offering pathology and radiology services using advanced equipment like MRI, CT scans, mammography, DEXA scans, NGS, NIPT, and LC/MS/MS testing.
✅ Technology-Driven Operations
Modern Diagnostic has developed an integrated information technology platform that enables:
-
Online report access
-
Digital payment systems
-
Home sample collection scheduling
-
Mobile and web-based patient interfaces
✅ Experience in Specialized Testing
The company has capabilities in specialized diagnostic areas such as:
-
Therapeutic Drug Monitoring (TDM)
-
Neuropsychiatric testing
-
Anti-tuberculosis drug testing
-
Advanced molecular and genetic diagnostics
Risks & Concerns of Modern Diagnostic IPO
⚠️ High Revenue Concentration
-
Haryana alone contributes ~68.8% of revenue
-
Punjab contributes ~29.95%
➡️ Heavy dependence on limited geographies increases business risk.
⚠️ Customer Concentration Risk
-
Top 5 customers contribute ~72.95% of revenue
-
Loss of key customers can materially impact business performance.
⚠️ Supplier Dependency
-
Top 10 suppliers account for ~69.80% of purchases
-
Any disruption in supply chain may affect operations.
⚠️ Past Losses & Cash Flow Issues
-
The company reported negative operating cash flows in FY22 and FY23.
-
Outstanding borrowings of ₹21.13 Cr as of Sept 2024.
⚠️ Seasonal Revenue Fluctuations
Demand for diagnostic services may vary due to seasonal illness patterns and holidays, impacting revenue predictability.
⚠️ SME IPO Risks
As an SME IPO:
-
Lower liquidity
-
Higher volatility
-
Limited public information
Who Should Invest in Modern Diagnostic IPO?
✔️ Investors with high risk appetite
✔️ Investors looking for SME healthcare exposure
❌ Not suitable for conservative or short-term investors
Application Details
| Category | Details |
|---|---|
| Apply As | Individual Investor |
| Price Band | ₹85 – ₹90 |
| Investment Range | ₹2 – 5 Lakh |
| Lot Size | 1,600 Shares |
Modern Diagnostic IPO FAQs
What is the issue size of Modern Diagnostic IPO?
The total issue size is ₹36.89 crore.
When will the Modern Diagnostic IPO open and close?
The IPO opens on 31 December 2025 and closes on 02 January 2026.
What is the minimum investment required?
Minimum investment is ₹2,72,000 (1 lot of 1,600 shares).
When will allotment be finalized?
Tentative allotment date is 05 January 2026.
Where will the IPO be listed?
The shares will be listed on BSE SME.
Who is the registrar of the IPO?
MUFJ Intime India Pvt. Ltd is the registrar.
Final Verdict: Should You Apply for Modern Diagnostic IPO?
The Modern Diagnostic IPO offers exposure to a growing healthcare diagnostics sector and shows improving financial performance, especially profitability in FY 2024. However, high geographic concentration, customer dependency, and SME-specific risks make it suitable only for investors with a high risk tolerance.
📌 Long-term investors should apply cautiously, while short-term listing gains remain uncertain.
Disclaimer
This article is for educational and informational purposes only. It is not investment advice. IPO investments, especially SME IPOs, involve significant risk. Investors should read the Red Herring Prospectus (RHP) carefully and consult a certified financial advisor before making any investment decision. The author is not responsible for any financial losses.
Comments
Post a Comment