Modern Diagnostic & Research Centre, a diagnostic and related healthcare testing services provider, plans to raise ₹37 crore through an initial public offering on the BSE SME platform.
The company will dilute 40.99 lakh equity shares at a price band of ₹85-₹90 per share.
The issue opens for bidding by retail investors on December 31.
The net proceeds from the IPO will be used for the purchase of medical equipment for the diagnostic centre and laboratories, working capital requirements, repayment of certain outstanding borrowings and General Corporate Purposes.
Beeline Capital Advisors will be the Book-Running Lead Manager for the issue, while MUFG Intime India has been appointed as the Registrar.
Dr Devendra Singh Yadav, Chairman and Managing Director, Modern Diagnostic & Research Centre, said the proposed IPO will provide the company with the financial strength to accelerate its expansion strategy, acquire advanced medical equipment, strengthen diagnostic and laboratory infrastructure, and expand the network of centres.
The investments will enhance testing capabilities, improve turnaround times and ensure consistent, high-quality diagnostic services across locations, he added.