Modern Diagnostic's IPO Moves Forward after Regulatory Nod

Modern Diagnostic & Research Centre Limited, a prominent player in India's healthcare testing sector, has received regulatory approval for its Draft Red Herring Prospectus, marking a key milestone in its path to an Initial Public Offering (IPO).

The company aims to release 41 lakh new equity shares, each valued at ₹10, to bolster its capital. The funds generated will be allocated towards acquiring medical equipment, meeting working capital needs, repaying certain debts, and general corporate objectives. This financial strategy is designed to improve operational efficiency and support the company's expansion goals.

Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager, while MUFG Intime India Private Limited will act as the Registrar to the Issue. Modern Diagnostic continues to provide pathology and radiology services with cutting-edge technology, ensuring precise diagnostic results.