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Upcoming IPO: Diagnostic and healthcare test services provider Modern Diagnostic & Research Centre Limited has received BSE's approval to file its draft papers with the markets regulator, the Securities and Exchange Board of India (Sebi), to raise funds via an initial public offering, the company informed on Friday, September 12.

The company provides healthcare test services in areas such as anatomical pathology, clinical pathology, forensic pathology, and molecular pathology, along with radiology, which includes diagnostic and interventional radiology services such as X-ray, computed tomography (CT scan), magnetic resonance imaging (MRI), ultrasound, colour doppler, CBCT, mammography, and BMD.

The diagnostic service provider plans to issue 41,00,000 fresh equity shares with a face value of ₹10 each. Beeline Capital Advisors Private Limited has been appointed as the book-running lead manager for the issue, while MUFG Intime India Private Limited will serve as the registrar.

Through proposed IPO, the diagnostic service provider aims to purchase medical equipment for the diagnostic centre and laboratories, finance working capital requirements, repay outstanding borrowings, and fund other expenses.

The company reported revenue of ₹6,713.05 lakhs, EBITDA of ₹ 1,105.18 lakhs, and net profit of ₹ 579.48 lakhs in FY24. In H-1FY25, the company reported revenue of ₹ 3,997.65 lakhs, EBITDA of ₹ 966.23 lakhs, and net profit of ₹ 495.53 lakhs. More details about the balance sheet can be expected when the company files the DRHP with BSE.

Modern Diagnostic & Research Centre Limited has 21 centres, including 17 laboratories and four diagnostic centres across 8eight states. The company stated that its laboratories conduct daily quality controls and participate in External Quality Assurance Programs (EQAP) with institutions such as Biorad Laboratories, AIIMS, RML, and CMC Vellore.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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