IPO of Modern Diagnostic and Research Centre Analyzed
The IPO of Modern Diagnostic and Research Centre (MDRC) was a huge success, attracting a massive amount of interest from investors. A total of 1,02,95,90,400 shares were bid for in the offer, significantly exceeding the initial offering of 29,37,600 shares. This incredible demand, with a subscription rate of 350.49 times, shows a strong belief in the company’s future.
Key Points
- Huge Demand: 102.96 crore shares bid, much higher than the initial offer.
- Strong Interest: The IPO was subscribed 350.49 times, demonstrating investor confidence.
- Investor Breakdown: QIBs, NIIs, and individual investors all heavily invested.
- Price Range: The IPO price was between Rs 85 and Rs 90 per share.
- Listing: Shares will list on the BSE SME platform.
- Funding Purpose: Proceeds will fund equipment, labs, and repay existing debts.
Investors divided their bids carefully. Qualified Institutional Buyers (QIBs) wanted 15,14,00,000 shares. Non-Institutional Investors (NIIs) placed bids for 41,13,45,600 shares, while individual investors (known as ‘IND’ category) put in 46,68,44,800 shares. The IPO started on December 31, 2025, and finished on January 2, 2025.
The company raised money by selling 40,99,200 new shares, and some existing shareholders reduced their ownership. About 2,06,400 shares were set aside for special investors. This means the company can grow and expand its services.
The money raised will be used to buy new medical equipment, set up new labs and diagnostic centers, and pay back some loans the company already took out. The company is already a well-known business, running 21 diagnostic centers across 8 Indian states.
MDRC offers a wide range of tests, including MRI, CT scans, and ultrasound. They also provide specialized services for heart and brain problems. They’re even trying out a new service: letting patients send samples to the lab from their homes!
As of September 30, 2025, MDRC employs 616 people. In the last six months, the company made 22.50 crore rupees in revenue and earned a profit of 2.99 crore rupees.
On December 30, 2025, anchor investors gave the company 10.45 crore rupees by buying 11.61 lakh shares at 90 rupees each. This helped kick off the IPO process.
Ultimately, this IPO signals strong confidence in India’s growing healthcare sector and MDRC’s established position.
