Modern Diagnostic & Research Centre Limited is an established diagnostic services provider in India, offering a comprehensive range of pathology and radiology solutions to patients, hospitals, and institutional clients. The company operates as a multi-location diagnostic chain, focusing on accuracy, accessibility, and technology-driven healthcare services.
MDRC operates a network of 21 diagnostic centres, comprising 17 pathology laboratories and 4 integrated diagnostic centres, spread across 8 states in India. These centres are equipped to deliver routine as well as specialized diagnostic tests, enabling the company to cater to diverse healthcare needs across urban and semi-urban regions.
Service Portfolio:
- Pathology Services: MDRC offers a comprehensive range of routine and advanced pathology tests, including biochemistry, hematology, immunology, microbiology, histopathology, cytology, as well as molecular diagnostics, cytogenetics, and specialized panels for genetic and cancer-related testing.
- Radiology Services: The company provides advanced imaging such as MRI, CT scans, ultrasound, digital X-rays, ECG, and PFT, supported by modern equipment including a 3-Tesla MRI and a 128-slice CT scanner.
- Home Sample Collection & Digital Services: MDRC offers home blood sample collection, online report access, and customized diagnostic packages for patients and institutional clients, improving convenience and accessibility.
As on February 28, 2025, the company employed 570 personnel, including doctors, consultants, technicians, and support staff.
Modern Diagnostic & Research Centre IPO – Details
| IPO Opening Date | 31 December 2025 |
| IPO Closing Date | 02 January 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 40,99,200 Shares Worth ₹37.00 Crore Fresh Issue: 40,99,200 Shares Worth ₹37.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹85 – ₹90 per share |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Modern Diagnostic & Research Centre IPO – Date Schedule
| IPO Open Date | 31 December 2025 |
| IPO Close Date | 02 January 2026 |
| Basis of Allotment | 05 January 2026 |
| Initiation of Refund | 06 January 2026 |
| Credit of Shares to Demat | 06 January 2026 |
| IPO Listing Date | 07 January 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 02, 2026 |
Modern Diagnostic & Research Centre IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,88,000 |
| Retail (Max) | 2 | 3,200 | ₹2,88,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,32,000 |
| S-HNI (Max) | 6 | 9,600 | ₹8,64,000 |
| B-HNI (Min) | 7 | 11,200 | ₹10,08,000 |
Competitive Strength
- Experienced Promoter and Management Team.
- Comprehensive diagnostics provider delivering all-in-one solution at cost-effective prices.
- Focus on quality and customer service.
- Centralized information technology platform.
Company Promoters
- Mr. Devendra Singh Yadav
- Mrs. Deepali Yadav
- Mrs. Asha Yadav
- Mr. Jitendra Singh
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2022 | ₹60.58 Cr | ₹59.44 Cr | – ₹1.45 Cr | ₹20.40 Cr |
| 31 March 2023 | ₹56.61 Cr | ₹62.55 Cr | – ₹5.73 Cr | ₹15.31 Cr |
| 31 March 2024 | ₹68.67 Cr | ₹61.81 Cr | ₹5.79 Cr | ₹20.46 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 65.40% |
| ROCE | 25.58% |
| Debt/Equity | 1.74 |
| RoNW | 49.28% |
| PAT Margin | 8.63% |
| EBITDA Margin | – |
| Price to Book Value | – |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | – | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding capital expenditure for the purchase of medical equipment for the diagnostic centre and laboratories. | ₹20.69 |
| Funding Working Capital Requirement. | ₹11.60 |
| Repayment of certain outstanding borrowings availed by the Company. | ₹4.50 |
| General corporate purposes. | – |
✅Strengths
- Integrated pathology + radiology diagnostic model.
- Wide range of routine to advanced & molecular tests.
- Presence across 21 centres in 8 states.
- Advanced equipment (3T MRI, 128-slice CT).
- Home sample collection & online reports improve reach.
- Experienced doctors, consultants & technical team.
⚠️Risks
- Intense competition from large diagnostic chains.
- Regulatory compliance risk in healthcare sector.
- High capex & maintenance cost of equipment.
- Dependence on skilled medical professionals.
- Pricing pressure from institutional clients.
Modern Diagnostic & Research Centre IPO Promoter Holding
| Pre-Issue Share Holding | 99.99% |
| Post Issue Share Holding | 72.85% |
Modern Diagnostic & Research Centre IPO Prospectus
- Modern Diagnostic & Research Centre IPO DRHP
- Modern Diagnostic & Research Centre IPO RHP
Company Contact Information
| Modern Diagnostic & Research Centre Ltd. Plot No H-64, 1st Floor BLK-H, Bali Nagar City landmark, near Khetar Pal Hospital, Ramesh Nagar, West Delhi West Delhi, New Delhi, 110015 Phone: 9999474297 Email: compliance@mdrcindia.com Website: http://www.mdrcindia.com/ |
Modern Diagnostic & Research Centre IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: moderndiagnostic.smeipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Modern Diagnostic & Research Centre IPO Lead Manager(s)
| 1. Beeline Capital Advisors Private Limited |
Modern Diagnostic & Research Centre IPO FAQ
| What is the Modern Diagnostic & Research Centre IPO? Modern Diagnostic & Research Centre IPO is an SME IPO. The issue is priced at ₹85 – ₹90 per equity share. The IPO is to be listed on BSE SME. |
| When will Modern Diagnostic & Research Centre IPO open? The IPO is to open on 31 December 2025 for QIB, NII, and Retail Investors. |
| What is Modern Diagnostic & Research Centre IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Modern Diagnostic & Research Centre IPO Size? Modern Diagnostic & Research Centre IPO size is ₹37.00 Crore. |
| What are the Modern Diagnostic & Research Centre IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 3200 Shares for ₹2,88,000, while the maximum bid is 3200 Shares for ₹2,88,000. |
| What is the Modern Diagnostic & Research Centre IPO Allotment Date? Modern Diagnostic & Research Centre IPO allotment date is 05 January 2026. |
| What is the Modern Diagnostic & Research Centre IPO Listing Date? Modern Diagnostic & Research Centre IPO listing date is 07 January 2026. The IPO is to be listed on the BSE SME. |
