Modern Diagnostic IPO GMP: The initial public offering (IPO) of Modern Diagnostic Ltd is going to close today, Friday, January 2. The price band of the Rs 36.89-crore IPO has been fixed in the range of Rs 85
and Rs 90. Till 10:40 am on the final day of bidding on Friday, the IPO received a total of 58.95x times subscription, garnering bids for 16,09,98,400 shares as against 27,31,200 shares on offer.
Its retail category got a 61.00x subscription, while its non-institutional investor (NII) quota got a 120.98x subscription. Its qualified institutional buyer (QIB) category has received an 8.95x subscription.
Modern Diagnostic IPO GMP Today
According to market observers, unlisted shares of Modern Diagnostic Ltd are currently trading at Rs 104 apiece in the grey market, which is a 15.56 per cent premium over the upper IPO price of Rs 90. It indicates a moderate listing. Its listing will take place on January 7, Wednesday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Modern Diagnostic IPO: More Details
Modern Diagnostic & Research Centre Ltd is entering the primary market with a book-built initial public offering (IPO) worth Rs 36.89 crore. The issue comprises a pure fresh issue of about 0.41 crore equity shares, with no offer for sale component.
The IPO opened for subscription on December 31, 2025, and will close on January 2, 2026. The basis of allotment is likely to be finalised on January 5, while the company is expected to make its stock market debut on the BSE SME platform on January 7, 2026.
The price band for the issue has been fixed at Rs 85-Rs 90 per share. Investors can apply in a lot size of 1,600 shares. At the upper end of the price band, the minimum investment required for retail investors is Rs 2.88 lakh, corresponding to 3,200 shares. For high-net-worth individuals (HNIs), the minimum application is three lots, or 4,800 shares, amounting to Rs 4.32 lakh.
Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager for the issue, while MUFG Intime India Pvt Ltd is the registrar. Spread X Securities Pvt Ltd has been appointed as the market maker.
Founded in 1985, Modern Diagnostic & Research Centre Limited operates a diagnostic chain in India, offering a wide range of pathology and radiology services. The company caters to both individual patients and institutional clients, providing services such as home sample collection, digital report delivery and customised diagnostic packages.
On the financial front, the company reported steady growth, with revenue rising 15% and profit after tax jumping 55% in FY25 compared with the previous financial year.
