Modern Diagnostic IPO is a book-built issue aggregating ₹36.89 crore, comprising entirely a fresh issue of 0.41 crore equity shares. 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, 2026, while the shares are expected to list on the BSE SME platform on January 7, 2026.
The price band for the Modern Diagnostic IPO has been fixed at ₹85 to ₹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 ₹2,88,000 for 3,200 shares.
The IPO witnessed strong demand, with the issue subscribed 82.46 times overall. As of 11:29:33 AM on January 2, 2026 (Day 3), the retail individual investors’ portion was subscribed 87.58 times, while the QIB (excluding anchor investors) segment saw 8.95 times subscription. The NII category recorded the highest interest, with subscriptions reaching 168.73 times.
The Modern Diagnostic IPO, a book-built issue worth ₹36.89 crore, consists solely of a fresh issue of 0.41 crore equity shares. The issue opened for bidding on December 31, 2025, and will remain open until January 2, 2026. The allotment is expected to be completed by January 5, 2026, with the company slated to debut on the BSE SME platform on January 7, 2026.
The IPO price band has been set between ₹85 and ₹90 per share. Applications can be made in lots of 1,600 shares. Based on the upper price band, retail investors will need to invest a minimum of ₹2,88,000 to apply for 3,200 shares.
Modern Diagnostic IPO attracted investor interest, achieving an overall subscription of 82.46 times. By 11:29:33 AM on January 2, 2026, the retail segment was subscribed 87.58 times, QIBs (ex-anchor) booked 8.95 times their allotted portion, and non-institutional investors led the demand with a massive 168.73 times subscription.
The table below breaks down the Modern Diagnostic share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,06,400 (5.04%) |
| QIB Shares Offered | 19,44,000 (47.42%) |
| − Anchor Investor Shares Offered | 11,61,600 (28.34%) |
| − QIB (Ex. Anchor) Shares Offered | 7,82,400 (19.09%) |
| NII (HNI) Shares Offered | 5,85,600 (14.29%) |
| − bNII > ₹10L | 3,93,600 (9.60%) |
| − sNII < ₹10L | 1,92,000 (4.68%) |
| Retail Shares Offered | 13,63,200 (33.26%) |
| Total Shares Offered | 40,99,200 (100.00%) |
| Category | Subscription (times) |
| Qualified Institutional Buyers | 8.95 |
| Non-Institutional Investors | 168.73 |
| Retail Individual Investors | 87.58 |
| Total shares | 82.46 |
Note: The subscription details are as of Jan 2, 2026
Incorporated in 1985, Modern Diagnostic & Research Centre Limited (MDRC) is an Indian diagnostic chain providing a wide spectrum of pathology and radiology services.
The company offers dependable diagnostic testing, home sample collection, online report access, and customised test packages tailored to the requirements of both institutional clients and individual patients.
MDRC operates a network of 21 centres, comprising 18 laboratories and 3 diagnostic centres, spread across eight states. Its service portfolio includes ultrasound, CT scans, MRI, X-ray, ECG, pulmonary function tests, and specialised laboratories focused on cardiac and neurological care.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 2, 2026, 12:22 PM IST
Nikitha Devi
Nikitha is a content creator with 7+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
