Mumbai, September 12: Exciting news for healthcare investors! Modern Diagnostic & Research Centre Limited, a leading provider of diagnostic and healthcare testing services in India, just got the green light for its Draft Red Herring Prospectus (DRHP). This big approval paves the way for the company’s much-awaited Initial Public Offering (IPO), set to hit the market soon.
The IPO will see Modern Diagnostic offering 41,00,000 fresh equity shares, each with a face value of ₹10. So, what’s the money for? The company plans to use the funds smartly: buying advanced medical equipment for its diagnostic centres and labs, meeting working capital needs, paying off some existing loans, and handling general corporate expenses. These moves will boost the company’s operations, fuel its growth in the competitive diagnostics sector, and make its finances even stronger.
Leading the charge as the Book Running Lead Manager is Beeline Capital Advisors Private Limited, while MUFG Intime India Private Limited steps in as the Registrar to the Issue. With this IPO, Modern Diagnostic aims to expand its footprint in India’s booming healthcare testing market.
### A Quick Look at Modern Diagnostic & Research Centre Limited
Modern Diagnostic stands out as a trusted name in India’s diagnostic services, delivering top-notch pathology and radiology tests. Their pathology lineup covers everything from anatomical and clinical pathology to forensic and molecular pathology. On the radiology side, they offer cutting-edge options like X-rays, CT scans, MRI, ultrasounds, colour Doppler, CBCT, mammography, and bone mineral density (BMD) scans.
What sets them apart? They rely on state-of-the-art computerized equipment to ensure accurate, reliable results every time. Whether it’s routine check-ups or specialized tests, Modern Diagnostic helps millions stay healthy with efficient healthcare testing solutions.
(Advertorial Disclaimer: This update is based on a press release from PNN. isn’t responsible for the content.)
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