Modern Diagnostic and Research Centre IPO Day 3: Check live subscription status, allotment date and steps

Modern Diagnostic and Research Centre IPO: Diagnostic services provider Modern Diagnostic and Research Centre's initial public offering has been subscribed 68.91 times so far on the final day of bidding on Friday, January 2,.

It got bids for 20,24,43,200 shares as against 29,37,600 shares on offer, according to the BSE data until 11:10 am.

Non-institutional investors led the bidding, subscribing their portion 115.82 times, followed by individual investors at 78.81 times. The part meant for qualified institutional investors was booked 8.95 times.

The initial share sale was a fresh issuance of 40,99,200 shares aggregating to ₹36.89 crore, with no offer for sale (OFS) component.

The fresh issue proceeds will be used for the following objectives:

• Fund working capital needs for the purchase of medical equipment for diagnostic centre and laboratories
• Repayment of outstanding borrowings
• Working capital needs
• General corporate purposes

Dr Devendra Singh Yadav, the company's Chairman and Managing Director, said, "The listing of the company’s equity shares is a significant milestone for the company as it undertakes its next phase of expansion...The proposed IPO will provide us with the financial strength to accelerate our expansion strategy."

With a price band of ₹85 to ₹90 per share, a lot consisted of 1,600 shares. The least investment for an individual investor is 3,200 shares or two lots.

Modern Diagnostic and Research Centre IPO: Allotment and listing date

Modern Diagnostic and Research Centre IPO allotment status is expected to be finalised on Monday, January 5. The company's shares will be listed on the BSE SME platform on Wednesday, January 7.

How to check Modern Diagnostic and Research Centre IPO allotment on BSE

• Visit the BSE IPO allotment status page: https://bseindia.com/investors/appli_check.aspx
• Pick ‘Equity’ as the issue type
• From the ‘Issue Name’ list, select ‘Modern Diagnostic and Research Centre Ltd’
• Identify yourself using PAN or IPO application number
• Press the 'Search' button to view the allotment details

Steps to check Modern Diagnostic and Research Centre IPO allotment on MUFG Intime India

• Head to MUFG Intime India's allotment status page: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Select ‘Modern Diagnostic and Research Centre Limited’ from the IPO names
• Mention your PAN, Application No, DP/Client ID, or Account No/IFSC
• Click on the ‘Submit’ button

Modern Diagnostic and Research Centre IPO GMP

According to investorgain.com and media reports, Modern Diagnostic and Research Centre's unlisted shares are trading at ₹104, reflecting a grey market premium (GMP) of 15.56% over the upper price band of ₹90.