The counter hit a high of Rs 100 and a low of Rs 94.54. About 20.91 lakh shares of the company changed hands at the counter.

Modern Diagnostic and Research Centre's IPO was subscribed 350.49 times. The issue opened for bidding on 31 December 2025 and it closed on 2 January 2025. The price band of the IPO was set at Rs 85 to Rs 90 per share.

The IPO comprised fresh issue of 40,99,200 equity shares. The promoter and promoter shareholding diluted to 72.85% from 99.99% pre-IPO.

The company intends to utilize the net proceeds for funding capital expenditure for purchase of medical equipment towards establishment of new diagnostic centre & labs, funding working capital requirement, repayment of certain outstanding borrowings availed by company for general corporate purpose.

Ahead of the IPO, Modern Diagnostic and Research Centre on 30 December 2025, raised Rs 10.45 crore from anchor investors. The board allotted 11.61 lakh shares at Rs 90 per share to 9 anchor investor.

Modern Diagnostic & Research Centre (MDRC) is an established Indian diagnostics chain providing a comprehensive range of pathology and radiology services, with operations spanning 21 centres including 18 laboratories and 3 diagnostic centres across 8 states. The company offers advanced diagnostic solutions such as MRI, CT scans, ultrasound, digital X-rays, ECG, PFT and specialised cardiac and neurological services, supported by high-end infrastructure including a 3-Tesla MRI and a 128-slice CT scanner. Its pathology division covers routine to advanced testing, including molecular diagnostics, cytogenetics and oncology-focused panels, while added services like home sample collection, online reports and customised diagnostic packages enhance accessibility and convenience for patients and institutional clients. As of 30 September 2025, the company had 616 employees including consultants and doctors.

The company recorded revenue from operations of Rs 22.50 crore and net profit of Rs 2.99 crore for the period ended 30 June 2025.