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Kolkata: The first bidding process of a public issue to close in 2026 has ended with a bang. Modern Diagnostic SME IPO was subscribed a fantastic 376.90 times overall -- 342.46 times in the individual investors category, 193.51 times in QIB (Ex Anchor) category and 702.08 times in the NII category. The level of QIB interest in the IPO deserves mention. QIBs (Qualified Institutional Buyers) are usually banks and mutual funds which have deep pockets to invest big sums and the skills to analyse a public issue threadbare. The level of enthusiasm around the SME IPO is perhaps explained by strong investor confidence in the healthcare and diagnostics sector and the company's financial performance and growth plans.
Modern Diagnostic & Research Centre is a chain of diagnostic centres which offer a wide range of pathology and radiology services. It has 21 centers of which 18 are laboratories and three are diagnostic centers which are spread across eight states.
Slow but steady wins the race, goes the proverb. A glance at Modern Diagnostic IPO GMP indicates the truth behind this aphorism. The GMP of this SME issue rose from Rs 10 on Dec 30 to Rs 13 on Dec 31, when the bid opened, and then proceeded to Rs 14 on Jan 1, and then to Rs 16 on Jan 2, when the bid closed. In early morning of Jan 3,
Modern Diagnostic IPO stood at the same level of Rs 16. Considering the price of Rs 90.00, the estimated listing price will be Rs 106 and the listing gain 17.78%. However, it must be remembered that GMP is an unofficial indicator, it is volatile and cannot guarantee any listing gain (or loss).
The Modern Diagnostic IPO price band was Rs 85-90 and the minimum investible lot for a retail investor in this IPO was 1,600 shares. Beeline Capital Advisors is the book running lead manager, while MUFG Intime India has been appointed the registrar of the issue and the Market Maker of the company is Spread X Securities. The listing of Modern Diagnostic shares will take place on Jan 7.
Allotment: Jan 5
Refund: Jan 6
Credit of shares to demat: Jan 6
Listing: Jan 7
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, InvITs and any form of alternative investment instruments and crypto assets.)
