Modern Diagnostic & Research Centre Ltd IPO
Status: Closed
Overview
IPO date
31 Dec 2025 to 02 Jan 2026
Face value
₹ 10 per share
Price
₹ 85 to ₹90 per share
Issue Size
4,099,200 shares
(aggregating up to ₹ 36.89 Cr)
(aggregating up to ₹ 36.89 Cr)
Allotment Date
05 Jan 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Healthcare
Objectives of Modern Diagnostic & Research Centre Ltd IPO
Modern Diagnostic & Research Centre Ltd IPO Strategy
About Modern Diagnostic & Research Centre Ltd
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T&C*
Strengths vs Risks of Modern Diagnostic & Research Centre Ltd
Know the pros & cons
Strengths
Experienced Promoter and Management Team.- Comprehensive diagnostics provider delivering all-in-one solution at cost-effective prices.
- Focus on quality and customer service.
- Centralized information technology platform.
Risks
- Any interruptions at its laboratories and diagnostic centres may affect the company's ability to process diagnostic tests, which in turn may adversely affect its business, results of operations and financial condition.
- The company's business and prospects may be adversely affected if the company is unable to maintain and grow its brand name and brand image.
- Majority of the company's operations are concentrated in state of Haryana and any adverse developments affecting Haryana could have an adverse effect on its business, results of operations and financial condition.
- The company has certain outstanding litigation against us, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- There may be significant dependence on key diagnostic equipment and core technology infrastructure, the failures of which could result in serious service disruptions.
- The company's heavy reliance on pathology services as the primary revenue driver presents significant risks that could negatively impact its operations, financial performance, and long-term growth prospects.
- Failures to attract and retain skilled healthcare professionals and experienced technical staff may lead to compromised diagnostic service quality and negatively impact patient care delivery.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business,
results of operations and prospects.
- Our Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditor of our Company as required under the provisions of ICDR.
- Our Company has incurred losses in last two financial years as per Restated Financial Statements, which may impact our financial performance.
- There have been certain instances of regulatory non-compliances or delays or errors in the past. We may be subject to regulatory actions and penalties for any such past or future non-compliance or delays or errors and our business, financial condition and reputation may be adversely affected.
- Our business may be adversely affected by growing competition from organized diagnostic chains and unorganized regional service providers, which could result in loss of market share.
- There is a risk that failure to maintain required accreditations and quality standards may adversely impact our credibility and weaken market positioning.
- Our expansion into new geographic markets and diagnostic service segments may encounter operational, financial, or regulatory challenges which could adversely affect profitability and strategic growth.
- There is a risk that any delays in diagnostic report delivery could negatively impact patient satisfaction and damage our brand reputation and clinical reliability.
- Our top ten suppliers contribute majority of our purchases. Any loss of business with one or more of them may adversely affect our business operations and profitability.
- There is a possibility that sustained increases in input prices and operational expenditures could lead to margin compression and reduced profitability.
- Inability to ensure data privacy and security of patient information could result in regulatory action, legal consequences, and a decline in customer trust.
- There may be service disruptions arising from our operational dependence on third-party vendors for logistics, IT support, and other critical non-core services.
- Our business performance may be adversely affected by seasonal fluctuations in diagnostic test volumes, which could impact revenue predictability and cost efficiency.
- There may be a possibility of delays in the establishment of new diagnostic centres and laboratories, which could lead to cost overruns and adversely affect our cash flows, business operations, financial performance, and overall financial condition.
- There is a risk that failure to adopt or integrate emerging diagnostic technologies may reduce our service relevance and weaken competitive positioning.
- There may be adverse consequences from changes in government healthcare policy or diagnostic sector regulations which could impact our operations and compliance framework.
- Our reliance on select vendors for diagnostic consumables and reagents may expose us to supply chain disruptions and price volatility.
- Any increase in or occurrence of our contingent liabilities may adversely affect our financial condition.
- We may become subject to professional malpractice liability claims, which could be costly and, therefore, could negatively affect our business, results of operations and financial condition.
- Any inadequacy in collection of, or failure or delay in the delivery of, specimens to our processing laboratories could compromise or destroy the integrity of such specimens, which could adversely affect our business, results of operations and financial condition.
- We have experienced negative cash flows in the past. Any such negative cash flows in the future could affect our business, results of operations and prospects.
- We have entered into related party transactions and may continue to enter into such transactions under Ind AS 18, in the future, and there can be no assurance that we could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Failure to introduce new tests, services and technologies or acquire new or improved equipment could adversely affect our business, results of operations and financial condition.
- Employee misconduct or failure of our internal processes or procedures could harm us by impairing our ability to attract and retain patients and subject us to significant legal liability and reputational harm.
- The Company is yet to place orders for some of the Equipments for our proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement may delay our implementation schedule and may also lead to increase in price of these plant & machinery, further affecting our revenue and profitability.
- Our business operations are being conducted on premises owned by and leased from third parties. Our inability to continue operating from such premises, or to seek renewal or extension of such leases may adversely affect our business and results of operations.
- Our insurance coverage may not be sufficient or may not adequately protect us against all material hazards, which may adversely affect our business, results of operations and financial condition.
- Our Promoter and Promoter Group will continue to exert substantial voting control over our Company after completion of the Issue, which may limit your ability to influence the outcome of matters submitted for approval of our shareholders.
- Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
- Our Company has availed unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect our cash flows.
- We have incurred substantial indebtedness which exposes us to various risks which may have an adverse effect on our business and the results of operations.
- Our inability to effectively manage our growth or to successfully implement our business plan and growth strategy could have an effect on our business, results of operations and financial condition.
- Our Promoter and Executive Directors hold Equity Shares in our Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- We are heavily dependent on our Directors and Key Managerial Personnels for the continued success of our business through their continuing services and strategic guidance and support.
- We have in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- Our Promoters and directors have provided personal guarantees to certain loan facilities availed by us, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Industry Overview section of this Draft Red Herring Prospectus contains information from the Dun & Bradstreet Report which we commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- The Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of our Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
- Our Company's management will have flexibility in utilizing the Net Proceeds from the Issue. The deployment of the Net Proceeds from the Issue is not subject to any monitoring by any independent agency.
- We have not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at our discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by our major shareholders may adversely affect the trading price of our Equity Shares.
- The requirements of being a public listed company may strain our resources and impose additional requirements.
- The company requires certain approvals, licenses, registrations and permits to operate the company's business, and failures to obtain or renew
them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate its business
may adversely affect the company's operations and financial conditions.
- The company's Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditor of
the Company as required under the provisions of ICDR.
- The Company has incurred losses in one of the last three financial years as per Restated Financial Statements, which
may impact its financial performance.
- There have been certain instances of regulatory non-compliances or delays or errors in the past. The company may be subject to
regulatory actions and penalties for any such past or future non-compliance or delays or errors and its business, financial
condition and reputation may be adversely affected.
- The company's business may be adversely affected by growing competition from organized diagnostic chains and unorganized
regional service providers, which could result in loss of market share.
- There is a risk that failures to maintain required accreditations and quality standards may adversely impact the company's credibility
and weaken market positioning.
- The company's expansion into new geographic markets and diagnostic service segments may encounter operational, financial, or
regulatory challenges which could adversely affect profitability and strategic growth.
- There is a risk that any delays in diagnostic report delivery could negatively impact patient satisfaction and damage the company's
brand reputation and clinical reliability.
- The company's top ten suppliers contribute majority of its purchases. Any loss of business with one or more of them may adversely
affect the company's business operations and profitability.
- There is a possibility that sustained increases in input prices and operational expenditures could lead to margin
compression and reduced profitability.
- Inability to ensure data privacy and security of patient information could result in regulatory action, legal consequences,
and a decline in customer trust.
- There may be service disruptions arising from the company's operational dependence on third-party vendors for logistics, IT support,
and other critical non-core services.
- The company's business performance may be adversely affected by seasonal fluctuations in diagnostic test volumes, which could
impact revenue predictability and cost efficiency.
- There may be a possibility of delays in the establishment of new diagnostic centres and laboratories, which could lead to
cost overruns and adversely affect the company's cash flows, business operations, financial performance, and overall financial
condition.
- There is a risk that failures to adopt or integrate emerging diagnostic technologies may reduce the company's service relevance and
weaken competitive positioning.
- There may be adverse consequences from changes in government healthcare policy or diagnostic sector regulations which
could impact the company's operations and compliance framework.
- The company's reliance on select vendors for diagnostic consumables and reagents may expose it to supply chain disruptions and
price volatility.
- Any increase in or occurrence of the company's contingent liabilities may adversely affect its financial condition.
- The company may become subject to professional malpractice liability claims, which could be costly and, therefore, could negatively
affect the company's business, results of operations and financial condition.
- Any inadequacy in collection of, or failures or delay in the delivery of, specimens to the company's processing laboratories could
compromise or destroy the integrity of such specimens, which could adversely affect its business, results of operations and
financial condition.
- The company has entered into related party transactions and may continue to enter into such transactions under Ind AS 18, in the
future, and there can be no assurance that the company could not have achieved more favourable terms had such transactions not
been entered into with related parties.
- Failures to introduce new tests, services and technologies or acquire new or improved equipment could adversely affect
the company's business, results of operations and financial condition.
- Employee misconduct or failures of the company's internal processes or procedures could harm it by impairing the company's ability to attract
and retain patients and subject it to significant legal liability and reputational harm.
- The Company is yet to place orders for some of the Equipments for the company's proposed object, as specified in the Objects of the
Issue. Any delay in placing orders, procurement may delay the company's implementation schedule and may also lead to increase in
price of these plant & machinery, further affecting its revenue and profitability.
- The company's business operations are being conducted on premises owned by and leased from third parties. The company's inability to continue
operating from such premises, or to seek renewal or extension of such leases may adversely affect its business and results
of operations.
- The company's insurance coverage may not be sufficient or may not adequately protect the company's against all material hazards, which may
adversely affect its business, results of operations and financial condition.
- The company's Promoter and Promoter Group will continue to exert substantial voting control over the Company after completion
of the Issue, which may limit your ability to influence the outcome of matters submitted for approval of the company's shareholders.
- The company's ability to pay dividends in the future will depend on its earnings, financial condition, working capital requirements,
capital expenditures and restrictive covenants of the company's financing arrangements.
- The Company has availed unsecured loans which are repayable on demand. Any demand from lenders for repayment of
such unsecured loans, may adversely affect the company's cash flows.
- The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on the company's
business and the results of operations.
- The company's inability to effectively manage its growth or to successfully implement the company's business plan and growth strategy could
have an effect on its business, results of operations and financial condition.
- The company's Promoter and Executive Directors hold Equity Shares in the Company and are therefore interested in the Company's
performance in addition to their remuneration and reimbursement of expenses.
- The company is heavily dependent on its Directors and Key Managerial Personnels for the continued success of the company's business
through their continuing services and strategic guidance and support.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- The company's Promoters and directors have provided personal guarantees to certain loan facilities availed by the company's, which if revoked
may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Industry Overview section of this Red Herring Prospectus contains information from the Dun & Bradstreet Report which
the company commissioned and purchased and any reliance on such information for making an investment decision in the Issue is
subject to inherent risks.
- The Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the
market price of the company's Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at
or above the Issue Price.
- The company's lenders have charge over its movable and immovable properties in respect of finance availed by the company's.
- The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment
of funds is entirely at the company's discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company's major
shareholders may adversely affect the trading price of its Equity Shares.
- The requirements of being a public listed company may strain the company's resources and impose additional requirements.
Modern Diagnostic & Research Centre Ltd Peer Comparison
Understand the company’s industry standing
Modern Diagnostic & Research Centre Ltd
Vijaya Diagnostic Centre Ltd
Face Value
10
1
Standalone / Consolidated
Standalone
Consolidated
Total Income Rs. Cr.
---
---
EPS-Basis
8.15
13.92
EPS-Diluted
---
---
NAV Per Share
18.84
77.42
P/E-Basic EPS
---
72.36
P/E-Diluted EPS
---
---
RONW(%)
43.27
18.07
Latest NAV Period
---
---
Latest NAV
---
---
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Follow the steps
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Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
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The IPO opens on 31 Dec 2025 & closes on 02 Jan 2026.
The Promoter, Mr. Devendra Singh Yadav started its operations of Diagnostic Centre in the name and style of 'Modern X-Ray and Clinical Lab' as Proprietorship firm in year 1985, which was later designated as 'Modern Diagnostic & Research Centre' in 1992. Modern Diagnostic & Research Centre Limited was erstwhile incorporated as 'Modern Diagnostic & Research Centre Private Limited' as a private company, vide Certificate of Incorporation dated April 16, 2012 issued by Registrar of Companies, Delhi .
Thereafter, the Company acquired the business of M/s. Modern Diagnostics & Research Centre, a Proprietorship Concern through Business Transfer Agreement in 2013. Subsequently, its status got converted from private limited into public limited and the name of the Company was changed to 'Modern Diagnostic & Research Centre Limited' pursuant to fresh certificate of incorporation dated December 18, 2024 issued by Registrar of Companies, Central Processing Centre.
Initially, the Firm was engaged in the business of Diagnostic Centre. Today, Company is a services provider in diagnostic and related healthcare tests services in India. It offer a one-stop solution for pathology and radiology testing services such as imaging (including radiology), pathology/clinical laboratory. Through an integrated, nationwide network, it offer a complete diagnostic facilities in radiology and pathology. Company's strength lies in providing a comprehensive, one-stop solution for diagnostic services at affordable prices.
Presently, the Company runs 21 centres which includes 18 laboratories and 3 diagnostics centres in 8 states. Its healthcare tests and services include Ultrasound and colour doppler, CT scan, MRI, Digital X-ray, Mammography, Heart lab, Neuro lab and laboratory, ECG, CBCT, OPG, PFT etc. It perform these tests and services in the clinical laboratories using sophisticated and computerized instruments.
As far as concerned, Company has implemented a PACS (Picture Archiving and Communication System) for efficient data storage, retrieval, and management of medical images. This advanced system allows to store diagnostic images such as X-rays, CT scans, MRIs, and ultrasounds in a digital format, eliminating the need for physical film. Additionally, PACS enables seamless remote access to medical images and reports via the internet. This allows radiologists and healthcare professionals to analyze and interpret diagnostic images from any location, improving workflow efficiency and ensuring faster reporting. With this system, patient data remains securely stored while providing quick and convenient access for accurate diagnosis and timely medical decisions.
Company launched the IPO comprising a fresh issue of 40,99,200 Equity Shares of Rs 10, aggregating to Rs 36.89 crores on January 2, 2026.
Modern Diagnostic & Research Centre Ltd IPO will close on 02 Jan 2026.
- Experienced Promoter and Management Team.
- Comprehensive diagnostics provider delivering all-in-one solution at cost-effective prices.
- Focus on quality and customer service.
- Centralized information technology platform.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Devendra Singh Yadav | 9240000 | 84 | 9240000 | 61.2 |
| 2 | Deepali Yadav | 550000 | 5 | 550000 | 3.64 |
| 3 | Asha Yadav | 550000 | 5 | 550000 | 3.64 |
| 4 | Jitendra Singh | --- | --- | --- | --- |
| 5 | Nitin Kumar | 550000 | 5 | 550000 | 3.64 |
| 6 | Sunita Yadav | 109978 | 1 | 109978 | 0.73 |
- Any interruptions at its laboratories and diagnostic centres may affect the company's ability to process diagnostic tests, which in turn may adversely affect its business, results of operations and financial condition.
- The company's business and prospects may be adversely affected if the company is unable to maintain and grow its brand name and brand image.
- Majority of the company's operations are concentrated in state of Haryana and any adverse developments affecting Haryana could have an adverse effect on its business, results of operations and financial condition.
- The company has certain outstanding litigation against us, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- There may be significant dependence on key diagnostic equipment and core technology infrastructure, the failures of which could result in serious service disruptions.
- The company's heavy reliance on pathology services as the primary revenue driver presents significant risks that could negatively impact its operations, financial performance, and long-term growth prospects.
- Failures to attract and retain skilled healthcare professionals and experienced technical staff may lead to compromised diagnostic service quality and negatively impact patient care delivery.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- Our Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditor of our Company as required under the provisions of ICDR.
- Our Company has incurred losses in last two financial years as per Restated Financial Statements, which may impact our financial performance.
- There have been certain instances of regulatory non-compliances or delays or errors in the past. We may be subject to regulatory actions and penalties for any such past or future non-compliance or delays or errors and our business, financial condition and reputation may be adversely affected.
- Our business may be adversely affected by growing competition from organized diagnostic chains and unorganized regional service providers, which could result in loss of market share.
- There is a risk that failure to maintain required accreditations and quality standards may adversely impact our credibility and weaken market positioning.
- Our expansion into new geographic markets and diagnostic service segments may encounter operational, financial, or regulatory challenges which could adversely affect profitability and strategic growth.
- There is a risk that any delays in diagnostic report delivery could negatively impact patient satisfaction and damage our brand reputation and clinical reliability.
- Our top ten suppliers contribute majority of our purchases. Any loss of business with one or more of them may adversely affect our business operations and profitability.
- There is a possibility that sustained increases in input prices and operational expenditures could lead to margin compression and reduced profitability.
- Inability to ensure data privacy and security of patient information could result in regulatory action, legal consequences, and a decline in customer trust.
- There may be service disruptions arising from our operational dependence on third-party vendors for logistics, IT support, and other critical non-core services.
- Our business performance may be adversely affected by seasonal fluctuations in diagnostic test volumes, which could impact revenue predictability and cost efficiency.
- There may be a possibility of delays in the establishment of new diagnostic centres and laboratories, which could lead to cost overruns and adversely affect our cash flows, business operations, financial performance, and overall financial condition.
- There is a risk that failure to adopt or integrate emerging diagnostic technologies may reduce our service relevance and weaken competitive positioning.
- There may be adverse consequences from changes in government healthcare policy or diagnostic sector regulations which could impact our operations and compliance framework.
- Our reliance on select vendors for diagnostic consumables and reagents may expose us to supply chain disruptions and price volatility.
- Any increase in or occurrence of our contingent liabilities may adversely affect our financial condition.
- We may become subject to professional malpractice liability claims, which could be costly and, therefore, could negatively affect our business, results of operations and financial condition.
- Any inadequacy in collection of, or failure or delay in the delivery of, specimens to our processing laboratories could compromise or destroy the integrity of such specimens, which could adversely affect our business, results of operations and financial condition.
- We have experienced negative cash flows in the past. Any such negative cash flows in the future could affect our business, results of operations and prospects.
- We have entered into related party transactions and may continue to enter into such transactions under Ind AS 18, in the future, and there can be no assurance that we could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Failure to introduce new tests, services and technologies or acquire new or improved equipment could adversely affect our business, results of operations and financial condition.
- Employee misconduct or failure of our internal processes or procedures could harm us by impairing our ability to attract and retain patients and subject us to significant legal liability and reputational harm.
- The Company is yet to place orders for some of the Equipments for our proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement may delay our implementation schedule and may also lead to increase in price of these plant & machinery, further affecting our revenue and profitability.
- Our business operations are being conducted on premises owned by and leased from third parties. Our inability to continue operating from such premises, or to seek renewal or extension of such leases may adversely affect our business and results of operations.
- Our insurance coverage may not be sufficient or may not adequately protect us against all material hazards, which may adversely affect our business, results of operations and financial condition.
- Our Promoter and Promoter Group will continue to exert substantial voting control over our Company after completion of the Issue, which may limit your ability to influence the outcome of matters submitted for approval of our shareholders.
- Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
- Our Company has availed unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect our cash flows.
- We have incurred substantial indebtedness which exposes us to various risks which may have an adverse effect on our business and the results of operations.
- Our inability to effectively manage our growth or to successfully implement our business plan and growth strategy could have an effect on our business, results of operations and financial condition.
- Our Promoter and Executive Directors hold Equity Shares in our Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- We are heavily dependent on our Directors and Key Managerial Personnels for the continued success of our business through their continuing services and strategic guidance and support.
- We have in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- Our Promoters and directors have provided personal guarantees to certain loan facilities availed by us, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Industry Overview section of this Draft Red Herring Prospectus contains information from the Dun & Bradstreet Report which we commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- The Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of our Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
- Our Company's management will have flexibility in utilizing the Net Proceeds from the Issue. The deployment of the Net Proceeds from the Issue is not subject to any monitoring by any independent agency.
- We have not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at our discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by our major shareholders may adversely affect the trading price of our Equity Shares.
- The requirements of being a public listed company may strain our resources and impose additional requirements.
- The company requires certain approvals, licenses, registrations and permits to operate the company's business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate its business may adversely affect the company's operations and financial conditions.
- The company's Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditor of the Company as required under the provisions of ICDR.
- The Company has incurred losses in one of the last three financial years as per Restated Financial Statements, which may impact its financial performance.
- There have been certain instances of regulatory non-compliances or delays or errors in the past. The company may be subject to regulatory actions and penalties for any such past or future non-compliance or delays or errors and its business, financial condition and reputation may be adversely affected.
- The company's business may be adversely affected by growing competition from organized diagnostic chains and unorganized regional service providers, which could result in loss of market share.
- There is a risk that failures to maintain required accreditations and quality standards may adversely impact the company's credibility and weaken market positioning.
- The company's expansion into new geographic markets and diagnostic service segments may encounter operational, financial, or regulatory challenges which could adversely affect profitability and strategic growth.
- There is a risk that any delays in diagnostic report delivery could negatively impact patient satisfaction and damage the company's brand reputation and clinical reliability.
- The company's top ten suppliers contribute majority of its purchases. Any loss of business with one or more of them may adversely affect the company's business operations and profitability.
- There is a possibility that sustained increases in input prices and operational expenditures could lead to margin compression and reduced profitability.
- Inability to ensure data privacy and security of patient information could result in regulatory action, legal consequences, and a decline in customer trust.
- There may be service disruptions arising from the company's operational dependence on third-party vendors for logistics, IT support, and other critical non-core services.
- The company's business performance may be adversely affected by seasonal fluctuations in diagnostic test volumes, which could impact revenue predictability and cost efficiency.
- There may be a possibility of delays in the establishment of new diagnostic centres and laboratories, which could lead to cost overruns and adversely affect the company's cash flows, business operations, financial performance, and overall financial condition.
- There is a risk that failures to adopt or integrate emerging diagnostic technologies may reduce the company's service relevance and weaken competitive positioning.
- There may be adverse consequences from changes in government healthcare policy or diagnostic sector regulations which could impact the company's operations and compliance framework.
- The company's reliance on select vendors for diagnostic consumables and reagents may expose it to supply chain disruptions and price volatility.
- Any increase in or occurrence of the company's contingent liabilities may adversely affect its financial condition.
- The company may become subject to professional malpractice liability claims, which could be costly and, therefore, could negatively affect the company's business, results of operations and financial condition.
- Any inadequacy in collection of, or failures or delay in the delivery of, specimens to the company's processing laboratories could compromise or destroy the integrity of such specimens, which could adversely affect its business, results of operations and financial condition.
- The company has entered into related party transactions and may continue to enter into such transactions under Ind AS 18, in the future, and there can be no assurance that the company could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Failures to introduce new tests, services and technologies or acquire new or improved equipment could adversely affect the company's business, results of operations and financial condition.
- Employee misconduct or failures of the company's internal processes or procedures could harm it by impairing the company's ability to attract and retain patients and subject it to significant legal liability and reputational harm.
- The Company is yet to place orders for some of the Equipments for the company's proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement may delay the company's implementation schedule and may also lead to increase in price of these plant & machinery, further affecting its revenue and profitability.
- The company's business operations are being conducted on premises owned by and leased from third parties. The company's inability to continue operating from such premises, or to seek renewal or extension of such leases may adversely affect its business and results of operations.
- The company's insurance coverage may not be sufficient or may not adequately protect the company's against all material hazards, which may adversely affect its business, results of operations and financial condition.
- The company's Promoter and Promoter Group will continue to exert substantial voting control over the Company after completion of the Issue, which may limit your ability to influence the outcome of matters submitted for approval of the company's shareholders.
- The company's ability to pay dividends in the future will depend on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- The Company has availed unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect the company's cash flows.
- The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on the company's business and the results of operations.
- The company's inability to effectively manage its growth or to successfully implement the company's business plan and growth strategy could have an effect on its business, results of operations and financial condition.
- The company's Promoter and Executive Directors hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The company is heavily dependent on its Directors and Key Managerial Personnels for the continued success of the company's business through their continuing services and strategic guidance and support.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- The company's Promoters and directors have provided personal guarantees to certain loan facilities availed by the company's, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Industry Overview section of this Red Herring Prospectus contains information from the Dun & Bradstreet Report which the company commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- The Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- The company's lenders have charge over its movable and immovable properties in respect of finance availed by the company's.
- The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at the company's discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company's major shareholders may adversely affect the trading price of its Equity Shares.
- The requirements of being a public listed company may strain the company's resources and impose additional requirements.
The Issue type of Modern Diagnostic & Research Centre Ltd is Book Building - SME.
The minimum application for shares of Modern Diagnostic & Research Centre Ltd is 3200.
The total shares issue of Modern Diagnostic & Research Centre Ltd is 4099200.
Initial public issue of up to 40,99,200 equity shares of face value of Rs. 10/- each of Modern Diagnostic & Research Centre Limited ("MDRC" or the "Company" or the "Issuer") for cash at a price of Rs. 90 per equity share including a share premium of Rs. 80 per equity share (the "Issue Price") aggregating to
Rs. 36.89 crores ("the Issue"), of which 2,06,400 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 90 per equity share including a share premium of Rs. 80 per equity share aggregating to Rs. 1.86 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 38,92,800 equity shares of face value of Rs. 10/- each at a price of Rs. 90 per equity share including a share premium of Rs. 80 per equity share aggregating to Rs. 35.04 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 27.15% and 25.78%, respectively, of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each.
Price Band: Rs. 90/- per equity share of face value Rs. 10/- each.
The floor price is 9.00 times of the face value.
Bids can be made for a minimum of 3200 equity shares and in multiples of 1600 equity shares thereafter.