Business News | Modern Diagnostic & Research Centre Limited Files DRHP On BSE SME For IPO
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], April 4: Modern Diagnostic & Research Centre Limited, (Modern Diagnostic, The Company) a service provider in diagnostic and related healthcare tests services in India, has announced its plans to enter the primary market with an IPO. The company has filed its Draft Red Herring Prospectus with BSE SME in preparation for the IPO. The company plans to issue 41,00,000 fresh equity shares with a face value of Rs 10 each.
VMPL
Mumbai (Maharashtra) [India], April 4: Modern Diagnostic & Research Centre Limited, (Modern Diagnostic, The Company) a service provider in diagnostic and related healthcare tests services in India, has announced its plans to enter the primary market with an IPO. The company has filed its Draft Red Herring Prospectus with BSE SME in preparation for the IPO. The company plans to issue 41,00,000 fresh equity shares with a face value of Rs 10 each.
As the company moves forward with its IPO plans, the capital raised will be utilized for Funding capital expenditure for purchase of medical equipments for diagnostic centre and laboratories, Working Capital Requirement, 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.
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