Upcoming IPO: Pramodini Medicare Files Draft Papers with NSE Emerge to Raise Funds

Pramodini Medicare has submitted its Draft Red Herring Prospectus to the NSE Emerge platform, signalling its intent to go public and raise capital for expansion.

The Andhra Pradesh-based diagnostic services provider is looking to strengthen its operational capacity and scale its presence across existing and new centres through this offering.

IPO Structure & Fund Utilisation

The proposed IPO(initial public offering) comprises 58.51 lakh shares, including a fresh issue of 53.5 lakh shares and an offer-for-sale of 5 lakh shares by promoters.

The company plans to utilise approximately ₹45.1 crore from the fresh issue towards procurement of medical equipment for both current and upcoming diagnostic centres, with the remaining proceeds earmarked for general corporate purposes and potential inorganic acquisitions.

Business Model and Operations

Pramodini Medicare offers a range of diagnostic services, including radiology, clinical laboratory testing, and nuclear medicine.

Its operations are structured across four models: public-private partnerships with government institutions, private partnerships with hospitals, collaborations with public sector undertakings, and standalone private centres. The company currently operates 15 diagnostic centres spread across 6 states.

Financial Performance and Competitive Landscape

The company reported revenue of ₹44.4 crore and profit of ₹12.5 crore for the 9-month period ending December 2025. For FY25, profit rose 74.3% to ₹10.04 crore from ₹5.76 crore in the previous year, while revenue increased 8.5% to ₹38.2 crore from ₹35.2 crore.

It competes with listed players such as Krsnaa Diagnostics and Star Imaging & Path Labs in the diagnostics space. Smart Horizon Capital Advisors has been appointed as the merchant banker to manage the IPO.

Conclusion

The IPO is expected to support capacity expansion and equipment upgrades, positioning the company to strengthen its footprint in India’s growing diagnostics market.

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