The Initial Public Offering (IPO) of Modern Diagnostic & Research Centre, a leading diagnostics company, opens today. This is the last IPO of 2025. Investors can place their bids until January 2, 2026.
This IPO is a book-built issue. The company plans to raise ₹36.89 crore by issuing 0.41 crore fresh shares. There is no Offer for Sale (OFS) in this IPO, which means no existing shareholders are selling their stake.
Grey Market Premium (GMP)
According to InvestorGain, shares of Modern Diagnostic were trading at a premium of ₹10 in the unlisted (grey) market on the morning of December 31.
The IPO price band is fixed at ₹85 to ₹90 per share. Based on the upper price band of ₹90, the estimated listing price is around ₹100. This suggests a possible gain of about 11.11% per share.
However, investors should remember that GMP is an unofficial indicator. It can change quickly and does not guarantee listing gains or losses.
Lot Size and Investment Details
One lot in this IPO consists of 1,600 shares.
Retail investors must apply for at least 2 lots (3,200 shares).
This requires an investment of ₹2.88 lakh, calculated at the upper price band.
HNI investors must apply for a minimum of 3 lots (4,800 shares).
This will require an investment of ₹4.32 lakh.
IPO Management and Listing Details
Book Running Lead Manager: Beeline Capital Advisors
Registrar: MUFG Intime India
Market Maker: SpreadX Securities
The company’s shares will be listed on the BSE SME platform on January 7, 2026.
Important IPO Dates to Remember
IPO Opening Date: December 31, 2026
IPO Closing Date: January 2, 2026
Share Allotment: January 5
Refund Initiation: January 6
Shares Credited to Demat Account: January 6
Listing Date: January 7
About the Company
Modern Diagnostic & Research Centre is an Indian diagnostic chain offering a wide range of pathology and radiology services.
The company provides diagnostic tests, home sample collection, online test reports, and customized test packages for hospitals, institutions, and individual patients.
It currently operates 21 centers across eight states, which include 18 laboratories and three diagnostic centers.
