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Modern Diagnostic & Research Centre Limited Received In-Principle Approval From BSE
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 [...]
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.
