Pramodini Medicare Ltd IPO
Healthcare
Price Band
₹110 – ₹118
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹283200
Issue Size
₹69.04Cr
Opens
2026-08-12
Closes
2026-08-14
Listing
19-08-2026
Subscription Status
Qualified Institutional Buyers
3.66 x
Non-Institutional Investor
3.93 x
Retail Individual Investor
3.42 x
Total
3.63 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE2JG601017
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Pramodini Medicare is a diagnostic service provider in India, offering technology-enabled diagnostic services to public and private hospitals, government PSUs and medical colleges across tier I, tier II and tier III cities. Its services are divided into three categories: radiology, clinical laboratory and nuclear medicine. Radiology services include MRI, CT scans, X-ray, ultrasound with colour Doppler, mammography, Dexa scans and interventional radiology. Clinical laboratory services cover haematology, microbiology, immunology, pathology and biochemistry, while nuclear medicine services include PET-CT, SPECT and nuclear therapy. The company also provides teleradiology services through its registered office in Vijayawada, which operates 24×7. As of December 31, 2025, the company operated 15 diagnostic centres across six states and 13 cities in India. Its centres operate through public-private partnerships, private-private partnerships, strategic partnerships with government PSUs and standalone private centres. The company also has a processing unit-cum-laboratory in Vijayawada. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Funding of capital expenditure for purchase of medical equipment towards existing and proposed diagnostic centres — Rs 45.15 crore General corporate purposes.
Pros
- • The company has a presence across six states and 13 cities in India. As of December 31, 2025, it operated 15 diagnostic centres across Uttar Pradesh, Andhra Pradesh, Karnataka, West Bengal, Haryana/NCR Delhi and Kerala, although operations in Kerala had not commenced.
- • The company operates through four different service models. As of December 31, 2025, it had seven centres under public-private partnerships, three under private-private partnerships, three through strategic partnerships with government PSUs and two standalone private centres along with a processing unit.
- • The company claims to have a diversified diagnostic equipment base. As of December 31, 2025, its operations were supported by seven CT machines, seven MRI machines, 20 X-ray machines, two Dexa scan machines, two mammography machines, 15 ultrasound machines, one PET-CT, six CR systems and three DR systems.
Cons
- • The company derives a significant portion of its revenue from Public Private Partnership (PPP) arrangements with government authorities. PPP arrangements contributed Rs 27.10 crore (70.88%), Rs 27.20 crore (77.22%), and Rs 22.73 crore (74.33%) to revenue from operations for the period FY25, FY24, and FY23, respectively. Any non-renewal, modification, or termination of these MoUs, deterioration in relationships with public hospitals, or delays or failures in receiving payments could adversely affect the company’s business, financial condition, and results of operations.
- • The company is heavily dependent on its radiology services, which contributed Rs 36.77 crore (96.17%), Rs 33.76 crore (95.82%), and Rs 29.09 crore (95.13%) to revenue from operations for the period FY25, FY24, and FY23, respectively. Any disruption to radiology services, increased equipment and maintenance costs, or failure to comply with regulations relating to patient safety, radiation exposure and data privacy could adversely affect the company’s business, financial condition and results of operations.
- • The company derives a substantial portion of its revenue from Andhra Pradesh, which contributed Rs 33.54 crore (87.71%), Rs 30.53 crore (86.66%), and Rs 27.57 crore (90.16%) to revenue from operations for the period FY25, FY24, and FY23, respectively. Any regional slowdown in economic activity, political or civil unrest, disruption, or sustained economic downturn in Andhra Pradesh could reduce demand for the company’s services and adversely affect its business, financial condition and results of operations.
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