Pramodini Medicare IPO
ListedSMEHealthcare
3.87×
Subscribed
Price band
₹118 – ₹118
Lot size
1,200
1 lot = ₹1,41,600
Issue size
₹69.04 Cr
Open – close
12 Aug 2026
to 14 Aug 2026
Listing
19 Aug 2026
Listing gain
+1.69%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong6 of 7 dimensions read
The disclosed numbers are strong — 5 of 6 signals read positive
Strength91/100
- Priced in line with peers14.5× earnings against a peer median of 14.9×
- Out-earns its peersReturn on net worth of 32.7% against a peer median of 10.3%
- Strong revenue growthRevenue compounding at 33.0% across the reported years
- Conservative balance sheetDebt/equity of 0.16×
- Fresh capital for the business91.5% of the issue is fresh capital raised by the company itself
- Institutional book coveredQIB portion subscribed 3.66×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens12 Aug 2026
- Closes14 Aug 2026
- Allotment17 Aug 2026
- Listing19 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB3.66x
Non-institutionalNII / HNI4.96x
Big NIIabove ₹10L5.03x
Small NII₹2L – ₹10L4.82x
Retail individualRII3.49x
3,689 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 14 Aug 2026.
Chance of allotment
Retail3.49× subscribed
~1 in 3.5
Minimum 2 lots · 2,400 shares · ₹2,83,200 blocked
Retail is 3.49× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 3.5 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII4.96× subscribed
~1 in 5
Minimum 1 lot · 1,200 shares · ₹1,41,600 blocked
HNI is 4.96× subscribed. This category is allotted proportionately, so a bid receives roughly 1/5 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹118 – ₹118
Face value₹10
Lot size1,200shares
Minimum application₹1,41,600at cut-off
Total issue size₹69.04 Cr
Fresh issue₹63.14 Cr
Offer for sale₹5.9 Cr
Listing atSME platform
Company & valuation
P/E at upper band14.48×
Debt / equity0.16×
ROE39.08%
ROCE34.66%
RoNW32.69%
PAT Margin27.90%
EBITDA Margin49.61%
NAV31.84
Price to Book Value3.71
ISININE2JG601017
RegistrarPURVA
8.6% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 25,32,000 | 43.27% |
| Anchor Investor | 13,60,800 | 23.26% |
| QIB (Ex. Anchor) | 11,71,200 | 20.02% |
| NII (HNI) | 9,60,000 | 16.41% |
| bNII > ₹10L | 6,39,600 | 10.93% |
| sNII < ₹10L | 3,20,400 | 5.48% |
| Retail | 20,23,200 | 34.58% |
| Market Maker | 3,36,000 | 5.74% |
Total issue 58,51,200 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,83,2002 lots · 2,400 sh
Individual investors (IND) (Max)₹2,83,2002 lots · 2,400 sh
S-HNI (Min)₹4,24,8003 lots · 3,600 sh
S-HNI (Max)₹9,91,2007 lots · 8,400 sh
B-HNI (Min)₹11,32,8008 lots · 9,600 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted13,60,800
Anchor portion₹16.06 Cr
Bid date11 Aug 2026
Lock-in ends (50%)16 Sept 2026
Lock-in ends (rest)15 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Funding of capital expenditure for purchase of Medical Equipments towards Existing and Proposed Diagnostic Centres₹45.15 Cr
- 02General corporate purposes and unidentified inorganic acquisition₹10.76 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 35.23 | — | 6.93 | — | — |
| 2025 | 38.238 | — | 11.028 | — | — |
| 2026 | 62.288 | — | 17.377 | — | — |
Revenue CAGR 33.0%PAT CAGR 58.4%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Pramodini Medicare Limitedthis issue | 10.41 | 11.34 | 31.84 | 32.69% |
| Invicta Diagnostic Limited | 4.90 | 14.90 | 39.71 | 9.76% |
| Krsnaa Diagnostics Limited | 31.30 | 18.38 | 302.23 | 10.35% |
| Star Imaging & Path Labs Limited | 11.05 | 8.64 | 66.65 | 16.58% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumA significant portion of revenue from operations is derived from MOUs with government authorities under Public Private Partnership (PPP) arrangements. Any non-renewal, modification, or termination of such MOUs, or delays or failures in realizing payments from government authorities, may materially a
mediumConcentrated emphasis on radiology services exposes us to substantial risks that could adversely impact our operations, financial performance, and long-term growth prospects. This heavy reliance on radiology services implies that any disruptions, challenges, or shifts in market dynamics specific to
mediumWe derive a substantial portion of our revenue from the state of Andhra Pradesh. Any loss of business in such regions could have an adverse effect on our business, results of operations and financial condition.
mediumWe are majorly dependent on certain key customers cum patients for a substantial portion of our revenues. Loss of relationship with any of these customers cum patients may have a material adverse effect on our profitability and results of operations.
Positives the filing discloses (3)
Primarily fresh capital
91% of the offer is fresh issue, so most proceeds fund the company.
Low leverage
Debt-to-equity of 0.16x.
Strong revenue growth
Restated revenue CAGR of 33.0%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Pramodini Medicare
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.
Founded 2000MD Dr. Chalasani Kuldeep KumarSector Healthcare
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Pramodini Medicare IPO subscribed?
Pramodini Medicare is subscribed 3.87× overall (QIB 3.66×, NII 4.96×, retail 3.49×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, PURVA.
What is the minimum investment in the Pramodini Medicare IPO?
One lot is 1,200 shares, so a retail application at the ₹118 cut-off price blocks ₹1,41,600. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Pramodini Medicare IPO?
The retail portion is subscribed 3.49×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Pramodini Medicare IPO allotment date?
Allotment is scheduled for 2026-08-17, with listing on 2026-08-19. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, PURVA.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.