Modern Diagnostic IPO: Huge buzz, strong debut likely
Modern Diagnostic & Research Centre's IPO has grabbed major attention, with shares already trading at a premium before its January 7 BSE SME listing.
The company raised nearly ₹37 crore by selling 40.99 lakh shares at ₹90 each—the top end of its price range.
IPO demand: Off the charts
Investor interest was sky-high—the IPO was subscribed over 350 times overall!
Non-institutional investors led the charge (519 times their quota), while retail and institutional buyers weren't far behind (342x and 193x respectively).
Share allotment wrapped up on January 5.
What does Modern Diagnostic do?
Based in Gurugram, Modern Diagnostic runs three centers and 18 labs offering pathology and radiology services.
They're planning upgrades, a new center in Lucknow, plus six more labs across North India.
Financially, things look upbeat: profits jumped nearly 55% last year to ₹8.96 crore on revenue of ₹77.9 crore.