PNN
Mumbai (Maharashtra) [India], September 12: Modern Diagnostic & Research Centre Limited (Modern Diagnostic, The Company), a service provider in diagnostic and related healthcare test services in India, has received approval for its Draft Red Herring Prospectus, marking a significant step toward its Initial Public Offering.
The company plans to issue 41,00,000 fresh equity shares with a face value of ₹ 10 each. As the company moves forward with its IPO plans, the capital raised will be utilised for funding capital expenditure for the purchase of medical equipment for the diagnostic centre and laboratories, Working Capital requirements, Repayment of certain outstanding borrowings availed by the Company and General Corporate Purposes. This strategic allocation will help enhance operational efficiency, support growth initiatives, and strengthen the company's financial position.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while MUFG Intime India Private Limited will serve as the Registrar to the Issue.
About Modern Diagnostic & Research Centre Limited:
Modern Diagnostic & Research Centre Limited (Modern Diagnostic, The Company) is a diagnostic and healthcare testing service provider in India, offering a broad range of pathology and radiology services. The company's diagnostic testing portfolio includes Pathology, encompassing Anatomical Pathology, Clinical Pathology, Forensic Pathology and Molecular Pathology, along with Radiology, which includes Diagnostic Radiology and Interventional Radiology services such as X-ray, Computed Tomography (CT scan), Magnetic Resonance Imaging (MRI), Ultrasound, Colour Doppler, CBCT, Mammography and BMD. These services are delivered using advanced computerised instruments, ensuring precise and dependable test results.
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