Pramodini Medicare IPO
IPO Details
Bidding Dates
12 Aug '26 - 14 Aug '26
Minimum Investment
₹2,83,200 / 2 Lots (2,400 Shares)
Price Range
₹110 - ₹118
Maximum Investment
₹2,83,200 / 2 Lots (2,400 Shares)
Retail Discount
NA
Issue Size
₹69 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB)Pramodini Medicare IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 12, 26
IPO Closing Date
Aug 14, 26
Basis of Allotment
Aug 17, 26
Initiation of Refunds
Aug 18, 26
IPO Listing Date
Aug 19, 26
About Pramodini Medicare IPO
Pramodini Medicare IPO is a book-built issue worth ₹69 crore. The IPO comprises a fresh issue of ₹59 crore and an offer for sale of ₹6 crore, aggregating to 58.51 lakh equity shares, while the remaining ₹4 crore is reserved for the market maker. The IPO will open for subscription on August 12, 2026, and close on August 14, 2026.
Smart Horizon Capital Advisors Private Limited is the book-running lead manager, while Purva Sharegistry (India) Private Limited is the registrar of the issue. The market makers for the company are Rainbow Securities Private Limited, and Shreni Shares Limited.
Industry Outlook
The global healthcare market is valued at USD 14.92 trillion in 2026 and is projected to reach USD 23.68 trillion by 2034, growing at a CAGR of 5.90%. Key growth drivers include ageing populations, chronic diseases, digital health adoption, and healthcare technology investments.
India's healthcare market is valued at around USD 596.80 billion in 2026, accounting for 4.0% of the global market. The sector is supported by rising healthcare spending, expanding hospital and diagnostic infrastructure, and increasing access to healthcare services.
Growing incomes, an ageing population, higher insurance penetration and increasing awareness of preventive healthcare are supporting healthcare demand in India. Healthcare demand in Tier II and Tier III cities is growing at 16%-18% CAGR, compared with 12%-14% in metros.
India's medical devices market is expected to reach ₹4,34,350 crore by FY31. The diagnostics segment is also benefiting from increased demand for advanced imaging and technology-enabled healthcare services.
India's health-tech market is projected to reach ₹4,43,500 crore by 2033, supported by automation, artificial intelligence and digital healthcare adoption. Telehealth is expected to grow at a 20.75% CAGR through 2030, while remote patient monitoring is projected to grow at 12.7% CAGR.
The Union Budget 2026-27 allocated ₹1,06,530.42 crore to the Ministry of Health and Family Welfare, around 10% higher than the FY26 Revised Estimates. Government healthcare programmes are also supporting the expansion of healthcare infrastructure.
More than 41 crore Ayushman cards have been created under PM-JAY, with over 31,466 empanelled hospitals. The expansion of public healthcare infrastructure and PPP models could support demand for diagnostic and medical services.
Pramodini Medicare operates in the growing diagnostics and medical imaging segment, with radiology contributing 97.05% of FY26 revenue. The company also generated 61.46% of FY26 revenue through B2G channels and 54.19% through PPP channels, aligning its operations with increasing government-led healthcare spending.
Pramodini Medicare IPO Objectives
The company plans to utilise the net proceeds from the IPO for the following purposes:
Medical Equipment: ₹4,514.85 lakh will be used to purchase medical equipment for existing and proposed diagnostic centres.
General Corporate Purposes & Acquisitions: The remaining proceeds will be used for corporate needs and unidentified inorganic acquisitions, subject to regulatory limits.
About Pramodini Medicare Limited
Pramodini Medicare Limited is a technology-enabled diagnostic and imaging service provider in India. Headquartered in Vijayawada, Andhra Pradesh, its promoters are Dr. Chalasani Kuldeep Kumar, Dr. Chalasani Kavitha, Ms. Chalasani Durga Aashritha, Ms. Chalasani Lalithakumari and M/s. Sri Ram Medicare Private Limited.
The company provides diagnostic services across radiology, clinical laboratory and nuclear medicine, along with 24x7 teleradiology services. Radiology is its primary revenue contributor, accounting for 97.05% of operational revenue at ₹6,044.98 lakh in FY26.
Its radiology services include MRI, CT scans, X-rays, ultrasound with colour Doppler, mammography, Dexa scans and interventional radiology. Clinical laboratory services contributed 2.37%, while nuclear medicine contributed 0.58% of operational revenue in FY26.
Pramodini Medicare has expanded from a single radiology centre in FY15 to 16 operational diagnostic centres across 14 cities in 7 states. Its network includes centres in Andhra Pradesh, Uttar Pradesh, Karnataka, West Bengal, Haryana, Madhya Pradesh and Kerala.
The company operates through four business models: Public Private Partnership (PPP), Private Private Partnership, strategic partnerships with PSUs and private standalone centres. PPP centres are the largest contributor, accounting for 54.19% of FY26 operational revenue, followed by private-private partnerships at 20.82%, private standalone centres at 17.72% and PSU partnerships at 7.27%.
The company is led by Dr. Chalasani Kuldeep Kumar, Chairman and Managing Director, who has over two decades of experience in medicine, surgery and radio-diagnosis.
As of March 31, 2026, Pramodini Medicare had 161 permanent and 18 contractual employees, including 27 CT/MRI technicians and 29 X-ray technicians. Its diagnostic infrastructure includes 8 CT machines, 7 MRI machines, 20 X-ray machines, 15 ultrasound systems with colour Doppler, 2 Dexa scanners, 2 mammography units and 1 PET-CT machine.
Financial Performance of Pramodini Medicare Limited
Particulars | Year ending on March 31, 2026 | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
Revenue from Operations (₹ Lakh) | 6,228.75 | 3,823.77 | 3,522.95 |
Growth in Revenue from Operations (%) | 62.90% | 8.54% | - |
EBITDA (₹ Lakh) | 3,090.35 | 2,096.61 | 1,553.47 |
EBITDA Margin (%) | 49.61% | 54.83% | 44.10% |
PAT (₹ Lakh) | 1,737.73 | 1,102.76 | 693.01 |
PAT Margin (%) | 27.90% | 28.84% | 19.67% |
ROE (%) | 39.08% | 36.44% | 32.76% |
RoCE (%) | 34.66% | 36.48% | 31.90% |
Pramodini Medicare Limited Peer Comparison
Company Name | Face Value (₹) | Diluted EPS (₹) | RONW (%) | NAV per Share (₹) | Revenue from Operations (₹ in Lakhs) |
Pramodini Medicare Limited | 10 | 10.41 | 32.69% | 31.84 | 6,228.75 |
Invicta Diagnostic Limited | 10 | 4.90 | 9.76% | 39.71 | 3,235.36 |
Krsnaa Diagnostics Limited | 5 | 31.30 | 10.35% | 302.23 | 77,277.40 |
Star Imaging & Path Labs Limited | 10 | 11.05 | 16.58% | 66.65 | 8,852.69 |
Strengths and Opportunities of Pramodini Medicare IPO
The company operates 16 diagnostic centres across 14 cities in 7 states, providing an established presence across multiple domestic markets.
It operates through PPP, private-private partnerships, PSU partnerships, and standalone centres. PPPs contributed the largest share at 54.19% of FY26 revenue.
FY26 revenue came from B2G (61.46%), B2B (20.82%) and B2C (17.72%) segments, reducing dependence on a single customer category.
Promoted by Dr. Chalasani Kuldeep Kumar and Dr. Chalasani Kavitha, who have over two decades of clinical experience in their respective fields.
Its equipment base includes 8 CT machines, 7 MRI machines, 20 X-ray machines, and 1 PET-CT scanner, supporting a wide range of diagnostic services.
Revenue from operations increased 62.90% YoY to ₹6,228.75 lakh in FY26, while PAT rose to ₹1,737.73 lakh, with an EBITDA margin of 49.61%.
The company plans to utilise ₹4,514.85 lakh of IPO proceeds to purchase medical equipment for existing and proposed diagnostic centres.
The company plans to expand its presence, including a proposed diagnostic centre in Bangalore under a private-private partnership model.
Healthcare demand in Tier-II and Tier-III cities is growing at 16%-18% CAGR, supporting the company's presence in these markets.
Rising insurance penetration and the expansion of Ayushman Bharat could support higher demand for diagnostic services.
Risks and Threats of Pramodini Medicare IPO
PPP contracts contributed 54.19% of FY26 operational revenue. Delayed payments, contract cancellations, or non-renewals could affect revenue and cash flows.
New PPP projects are awarded through competitive bidding. Lower bids may be required to win contracts, which could put pressure on margins.
Radiology contributed 97.05% of FY26 operational revenue, creating concentration risk. The segment also requires high capital investment, maintenance spending, and regulatory compliance.
Andhra Pradesh contributed 61.90% of FY26 operational revenue, exposing the company to regional economic, regulatory and political risks.
B2G channels accounted for 61.46% of FY26 operational revenue, making the company dependent on government healthcare spending and policies.
Equipment failures, supply disruptions, maintenance costs, and diagnostic errors could affect operations and expose the company to financial and reputational risks.
The company has provided a ₹495 lakh corporate guarantee to HDFC Bank for credit facilities availed by promoter group entity M/s. Sri Ram Medicare Private Limited.
Vista Pramodini Medicare reported losses of ₹318.88 lakh in FY26 and ₹277.99 lakh in FY25. Group entities operating in similar businesses could also create potential competition.
The company recorded a net cash decrease of ₹233.78 lakh in FY24 and had contingent liabilities, including bank guarantees of ₹67 lakh, as of March 31, 2026.
Pramodini Medicare IPO Reservation
Investor Category | Shares | % of Total Issue |
QIB | 25,32,000 | 43.27% |
− Anchor Investor | 13,60,800 | 23.26% |
− QIB (Ex. Anchor) | 11,71,200 | 20.02% |
NII (HNI) | 9,60,000 | 16.41% |
− bNII > ₹10L | 6,39,600 | 10.93% |
− sNII < ₹10L | 3,20,400 | 5.48% |
Retail | 20,23,200 | 34.58% |
Market Maker | 3,36,000 | 5.74% |
Total | 58,51,200 | 100.00% |
Pramodini Medicare IPO Promoter Holding
The promoters of our Company are Dr Chalasani Kuldeep Kumar, Dr Chalasani Kavitha, Ms Chalasani Durga Aashritha, Ms Chalasani Lalithakumari, and M/s Sri Ram Medicare Private Limited.
Share Holding Pre-Issue
| 85.71% |
Share Holding Post Issue | 62.64% |
Pramodini Medicare IPO Prospectus
Pramodini Medicare IPO Registrar and Lead Managers
Pramodini Medicare IPO Lead Managers
Smart Horizon Capital Advisors Private Limited
Registrar for Pramodini Medicare IPO
Purva Sharegistry (India) Limited
Contact Number: 022-41343255
Email Address: newissue@purvashare.com
Pramodini Medicare IPO Registrar
How To Apply for Pramodini Medicare IPO Online?
Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the Pramodini Medicare IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the Pramodini Medicare IPO?
Steps to check IPO allotment status on Angel One’s app:
Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Pramodini Medicare IPO
Registered Office: D. No: - 29-4-54K, CSI Complex, Prakasam Road, Suryaraopet Vijayawada, Andhra Pradesh, 520002
Phone: +91 99857 82727
- How to Apply in IPO
- How to Check IPO Allotment Status
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Pramodini Medicare IPO FAQs
What minimum lot size can retail investors subscribe to?
Retail investors can apply for a minimum of 2 lots, comprising 2,400 equity shares. At the upper price band of ₹118 per share, the minimum investment amount is ₹2,83,200.
When will the Pramodini Medicare IPO be allotted?
The basis of allotment for the Pramodini Medicare IPO is expected to be finalised on August 17, 2026.
How to increase your chances of getting a Pramodini Medicare IPO allotment?
1. Multiple Submissions: Use different Demat accounts to make multiple applications.
2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
How do I approve the UPI mandate request for the Pramodini Medicare IPO?
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
Can I submit more than one application for the public issue of Pramodini Medicare Limited using one PAN?
You can submit only one application using your PAN card.
What is 'pre-apply' for Pramodini Medicare Limited IPO?
Pre-apply allows investors to apply for the Pramodini Medicare IPO two days before the subscription period opens, ensuring an early submission of your application.
If I pre-apply for the Pramodini Medicare Limited IPO, when will my order get placed?
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
When will I know if my Pramodini Medicare Limited IPO order is placed?
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Where is the Pramodini Medicare Ltd IPO getting listed?
The Pramodini Medicare IPO is proposed to be listed on NSE SME platform, with the tentative listing date scheduled for August 19, 2026.
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