Modern Diagnostic & Research Centre came to market through an SME IPO that opened on 31 December 2025 and closed on 2 January 2026, and the shares listed on 7 January 2026 on BSE SME. The price band was ₹85 to ₹90 per share and one lot was 1600 shares, so the minimum application was ₹1,44,000. The issue size was ₹36.89 crore. The whole issue was fresh shares, so the money raised went to the company.
MUFG Intime India Pvt.Ltd was the registrar to the issue, and Beeline Capital Advisors Pvt.Ltd was the lead manager.
As of 2 January 2026.
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Incorporated in 1985, Modern Diagnostic & Research Centre Limited (MDRC) is an Indian diagnostic chain offering diverse services in pathology, radiology, and other related fields.The firm offers credible diagnostic tests, home sample collection services, web-based reporting, and tailored test packages to institutions as well as clients according to their requirements.
The organization has 21 centers (18 labs and 3 diagnostic centers) in 8 states with the provision of diagnostic services in ultrasound, CT scan, MRI scan, X-ray, ECG, PFT, and heart and neurological specialties labs. Services: Pathology:MDRC offers a broad range of tests that include high-end molecular, cytogenetics, and focused panels for genetic diseases and neoplasms. Radiology:
The facility provides modern imaging services including MRI, CT scans, ultrasound, and digital X-rays, employing cutting-edge technology such as a 3-Tesla MRI machine and a 128-slice CT scanner. Home Sample Collection: The MDRC has a home blood sample collection facility available in a number of cities, allowing patients to save time as they do not need to come to the centre themselves.
As described in the offer document.
| Metric | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Mr. Devendra Singh Yadav, Mrs. Deepali Yadav, Mrs. Asha Yadav, Mr. Jitendra Singh. Promoter holding 99.99% before the issue and 72.85% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Modern Diagnostic & Research Centre IPO was a ₹36.89 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹85–₹90 per share with a lot size of 1,600 shares; the minimum retail application was 3,200 shares (₹2,88,000). The IPO was open from December 31, 2025 to January 2, 2026 and was subscribed 376.97x. Shares listed on BSE SME on January 7, 2026 at ₹99.50, a 10.6% premium to the issue price of ₹90.
MUFG Intime India Pvt. Ltd. is the registrar. Beeline Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of Modern Diagnostic & Research Centre IPO is ₹85 to ₹90 per share.
The lot size of Modern Diagnostic & Research Centre IPO is 1600 shares.
The minimum investment for Modern Diagnostic & Research Centre IPO is approximately ₹2,88,000 based on the upper price band.
The allotment date of Modern Diagnostic & Research Centre IPO is Jan 5, 2026.
Modern Diagnostic & Research Centre IPO's final recorded GMP before listing was ₹12 per share (a 13% premium over the ₹90 upper price band). The shares listed at ₹99.5. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Modern Diagnostic & Research Centre IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Modern Diagnostic & Research Centre IPO allotment status on Rupix for quick and easy access.
₹85 to ₹90 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,44,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,44,000, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 31 December 2025 and closed on 2 January 2026.
The basis of allotment was published on 5 January 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 7 January 2026 on BSE SME.
The issue size was ₹36.89 crore. The fresh issue was 40,99,200 shares (aggregating up to ₹36.89 crore).