Pramodini Medicare IPO was a book-built SME public issue of Pramodini Medicare Limited. The company raised approximately ₹69.04 crore through a combination of a fresh issue of 53,50,800 equity shares and an Offer for Sale of 5,00,400 equity shares. The equity shares had a face value of ₹10 each and were offered in the price band of ₹110 to ₹118 per share. The shares were listed on the NSE SME platform.
The IPO opened for subscription on August 12, 2026, and closed on August 14, 2026. The basis of allotment was finalised on August 17, refunds were initiated on August 18, and shares were credited to eligible demat accounts on August 18. The listing took place on August 19, 2026.
Pramodini Medicare Limited is a diagnostic service provider offering technology-enabled healthcare and diagnostic services. Its business covers radiology, clinical laboratory, nuclear medicine and teleradiology services. The company serves public and private hospitals, government PSUs and medical colleges across tier I, tier II and tier III cities in India.
The company’s radiology services include MRI, CT scans, X-ray, ultrasound with colour Doppler, mammography, DEXA scans and interventional radiology. Its clinical laboratory services include haematology, microbiology, immunology, pathology and biochemistry, while nuclear medicine services include PET-CT, SPECT and nuclear therapy.
For FY2026, the company reported revenue from operations of ₹62.29 crore and profit after tax of ₹17.38 crore. Total income for the year was ₹63.38 crore. Revenue and profitability increased significantly compared with FY2025.
Pramodini Medicare IPO Details
| Information | Details |
|---|---|
| IPO Name | Pramodini Medicare IPO |
| Company Name | Pramodini Medicare Limited |
| IPO Type | Book Building Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹110 to ₹118 Per Share |
| Final Issue Price | ₹118 Per Share |
| Issue Size | Approx. ₹69.04 Crore |
| Fresh Issue | 53,50,800 Equity Shares |
| Offer for Sale | 5,00,400 Equity Shares |
| Total Shares Offered | 58,51,200 Equity Shares |
| IPO Open Date | 12 August 2026 |
| IPO Close Date | 14 August 2026 |
| Basis of Allotment | 17 August 2026 |
| Refund Initiation | 18 August 2026 |
| Shares Credited to Demat | 18 August 2026 |
| Listing Date | 19 August 2026 |
| Listing Exchange | NSE SME |
| Lot Size | 1,200 Shares |
| Minimum Retail Application | 2 Lots / 2,400 Shares |
| Minimum Investment at ₹118 | ₹2,83,200 |
| Registrar | Purva Sharegistry (India) Private Limited |
| Lead Manager | Smart Horizon Capital Advisors Private Limited |
The issue comprised 53.508 lakh fresh equity shares and 5.004 lakh shares offered by selling shareholders. The total public offer therefore consisted of 58.512 lakh equity shares.
Pramodini Medicare IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 11 August 2026 |
| IPO Opening Date | 12 August 2026 |
| IPO Closing Date | 14 August 2026 |
| Basis of Allotment | 17 August 2026 |
| Refund Initiation | 18 August 2026 |
| Shares Credited to Demat | 18 August 2026 |
| Listing Date | 19 August 2026 |
The IPO followed the standard SME issue process, with anchor bidding conducted one day before the public issue opened.
Pramodini Medicare IPO Reservation
The public issue included reservations for qualified institutional buyers, non-institutional investors, retail investors and anchor investors.
| Investor Category | Shares Offered | Approx. Allocation |
|---|---|---|
| Anchor Investors | 13,60,800 | 23.26% |
| QIB – Excluding Anchor | 11,71,200 | 20.02% |
| Non-Institutional Investors | 9,60,000 | 16.41% |
| Retail Individual Investors | 20,23,200 | 34.58% |
| Total Listed Allocation | 55,15,200 | 94.27% |
The remaining shares included the market-maker reservation as prescribed for the SME issue. The overall issue structure and investor allocation were based on the offer documents and issue disclosures.
Pramodini Medicare IPO Lot Size
The IPO lot size was 1,200 shares. Individual investors were required to apply for a minimum of two lots, or 2,400 shares. At the upper price band of ₹118, the minimum application amount was ₹2,83,200.
| Application | Lots | Shares | Amount at ₹118 |
|---|---|---|---|
| Retail Minimum | 2 Lots | 2,400 Shares | ₹2,83,200 |
| Retail Maximum | 2 Lots | 2,400 Shares | ₹2,83,200 |
| S-HNI Minimum | 3 Lots | 3,600 Shares | ₹4,24,800 |
| S-HNI Maximum | 7 Lots | 8,400 Shares | ₹9,91,200 |
| B-HNI Minimum | 8 Lots | 9,600 Shares | ₹11,32,800 |
Pramodini Medicare IPO Anchor Investors
Pramodini Medicare completed its anchor-investor bidding on August 11, 2026, one day before the public issue opened.
| Particular | Details |
|---|---|
| Anchor Bidding Date | 11 August 2026 |
| Anchor Shares | 13,60,800 Shares |
| Anchor Allocation | Approx. ₹16.06 Crore |
| Price Per Share | ₹118 |
| 50% Lock-in End Date | 15 September 2026 |
| Remaining 50% Lock-in End Date | 14 November 2026 |
The anchor allocation was made at the upper end of the price band.
About Pramodini Medicare Limited
Pramodini Medicare Limited was originally incorporated on September 12, 2000, as Pramodini Medicare Private Limited. The company was subsequently converted into a public limited company, with the name changed to Pramodini Medicare Limited in 2025. The fresh certificate of incorporation following conversion was issued on November 12, 2025.
The company operates in India’s diagnostic healthcare sector and provides technology-enabled diagnostic services to institutional and healthcare customers.
Its service portfolio covers three principal areas: radiology, clinical laboratory and nuclear medicine. The company also provides teleradiology services.
Pramodini Medicare serves public hospitals, private hospitals, certain government public-sector undertakings and medical colleges. Its services are offered across tier I, tier II and tier III cities.
Business Operations
Pramodini Medicare operates across several diagnostic healthcare services:
- Radiology Services: MRI, CT scans, X-ray, ultrasound with colour Doppler, mammography, DEXA scans and interventional radiology.
- Clinical Laboratory: Haematology, microbiology, immunology, pathology and biochemistry.
- Nuclear Medicine: PET-CT, SPECT and nuclear therapy.
- Teleradiology: Remote interpretation and reporting of radiology investigations.
- Hospital Services: Diagnostic services for public and private hospitals.
- Government Healthcare: Services for certain government PSUs and public healthcare institutions.
- Medical Colleges: Diagnostic services provided to medical education institutions.
- Diagnostic Centres: Operations through existing and proposed diagnostic centres.
Industry Overview
India’s diagnostics industry forms an important part of the healthcare ecosystem. Increasing healthcare awareness, preventive testing, chronic diseases and demand for early diagnosis continue to support the need for diagnostic services.
The diagnostic industry includes imaging, pathology, laboratory testing and specialised services such as nuclear medicine. Technology has also enabled diagnostic providers to offer remote reporting and teleradiology services.
The industry remains competitive, with established diagnostic chains, regional providers, hospital-based diagnostic departments and specialised centres competing for customers.
Diagnostic businesses also require substantial investment in medical equipment. MRI, CT, PET-CT and other advanced diagnostic equipment involve significant capital expenditure and require regular maintenance and technological upgrades.
Business Strategy
Pramodini Medicare’s strategy focuses on expanding its diagnostic infrastructure and increasing its capacity through investment in medical equipment.
The company proposes to purchase and install medical equipment at existing diagnostic centres in locations including Hubli, Manjeri and Vijayawada. The company also plans to establish a new diagnostic centre in Bangalore.
The expansion is intended to increase diagnostic capacity, improve service efficiency and strengthen the company’s presence in the healthcare market.
The company also proposes to evaluate inorganic growth opportunities through mergers and acquisitions. Such opportunities could potentially help it enter new geographies, expand its service portfolio and consolidate its market position.
Pramodini Medicare IPO Financial Information
Pramodini Medicare recorded significant improvement in revenue and profitability during FY2026.
Revenue from operations increased from ₹35.23 crore in FY2024 to ₹38.24 crore in FY2025 and ₹62.29 crore in FY2026.
Profit after tax increased from ₹6.93 crore in FY2024 to ₹11.03 crore in FY2025 and ₹17.38 crore in FY2026. Total income increased from ₹35.79 crore in FY2024 to ₹63.38 crore in FY2026.
Pramodini Medicare Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹35.23 Crore | ₹38.24 Crore | ₹62.29 Crore |
| Other Income | ₹0.56 Crore | ₹0.31 Crore | ₹1.09 Crore |
| Total Income | ₹35.79 Crore | ₹38.55 Crore | ₹63.38 Crore |
| EBITDA | ₹15.89 Crore | ₹21.16 Crore | ₹31.99 Crore |
| Profit Before Tax | ₹10.08 Crore | ₹15.75 Crore | ₹23.30 Crore |
| Profit After Tax | ₹6.93 Crore | ₹11.03 Crore | ₹17.38 Crore |
| Total Assets | ₹48.78 Crore | ₹56.45 Crore | ₹93.62 Crore |
| Net Worth | ₹24.75 Crore | ₹35.77 Crore | ₹53.15 Crore |
| Borrowings | ₹11.96 Crore | ₹10.81 Crore | ₹17.85 Crore |
The financial information shows a sharp increase in revenue, assets and profitability in FY2026. Borrowings also increased during FY2026 as the company expanded its operations and asset base.
Pramodini Medicare IPO Key Performance Indicators
| KPI | FY2026 |
|---|---|
| Revenue from Operations | ₹62.29 Crore |
| Total Income | ₹63.38 Crore |
| EBITDA | ₹31.99 Crore |
| PAT | ₹17.38 Crore |
| EPS | ₹10.41 |
| NAV Per Share | ₹31.84 |
| ROE | 39.08% |
| ROCE | 34.66% |
| Debt-to-Equity | 0.34 |
The FY2026 figures indicate strong profitability and return ratios, while the debt-to-equity ratio stood at 0.34.
Pramodini Medicare IPO Valuation
The IPO price band was fixed at ₹110 to ₹118 per share, with the final issue price at ₹118.
Based on FY2026 EPS of ₹10.41, the upper price band represents approximately 11.33 times earnings. The FY2026 NAV was ₹31.84 per share.
| Particular | Details |
|---|---|
| Price Band | ₹110 – ₹118 |
| Final Issue Price | ₹118 |
| Face Value | ₹10 |
| FY2026 EPS | ₹10.41 |
| P/E at Upper Price Band | Approx. 11.33x |
| NAV Per Share | ₹31.84 |
| Price-to-Book at Upper Band | Approx. 3.71x |
| Debt-to-Equity | 0.34 |
Valuation should be considered alongside the company’s revenue growth, profitability, capital expenditure requirements, debt position and the competitive nature of the diagnostics industry.
Objects of the Pramodini Medicare IPO
The principal objective of the fresh issue is to fund capital expenditure for the purchase of medical equipment for existing and proposed diagnostic centres.
| Purpose | Estimated Amount |
|---|---|
| Purchase of Medical Equipment for Existing and Proposed Diagnostic Centres | ₹45.15 Crore |
| General Corporate Purposes | As specified in the offer documents |
| Unidentified Inorganic Acquisition Opportunities | As specified in the offer documents |
The company intends to deploy approximately ₹45.15 crore toward capital expenditure for medical equipment. The planned equipment investment is connected with existing diagnostic centres and the proposed expansion of the diagnostic network.
The company has also identified general corporate purposes and potential inorganic acquisition opportunities as part of its proposed use of funds.
Pramodini Medicare IPO GMP
Grey Market Premium is an unofficial and unregulated market indicator. It is not an exchange price and should not be treated as a guaranteed listing price or investment return.
Available GMP tracking showed no active premium for Pramodini Medicare IPO during the issue period. IPO Watch also reported the GMP as not started, while other trackers recorded ₹0.
| Date | GMP |
|---|---|
| 5 August 2026 | ₹0 |
| 6 August 2026 | ₹0 |
| 7 August 2026 | ₹0 |
| 8 August 2026 | ₹0 |
| 10 August 2026 | ₹0 |
| 11 August 2026 | ₹0 |
| 12 August 2026 | ₹0 |
| 13 August 2026 | ₹0 |
| 14 August 2026 | ₹0 |
| 17 August 2026 | ₹0 |
| 18 August 2026 | ₹0 |
| 19 August 2026 | ₹0 |
GMP data should be used only as an informal sentiment indicator and not as a substitute for analysis of the company’s financials and offer documents.
Pramodini Medicare IPO Subscription Status
The Pramodini Medicare IPO received overall subscription of approximately 3.66 times.
| Investor Category | Shares Offered | Shares Bid | Subscription |
|---|---|---|---|
| Qualified Institutional Buyers | 11,71,200 | 42,82,800 | 3.6568x |
| Non-Institutional Investors | 12,96,000 | 50,95,200 | 3.9315x |
| Retail Individual Investors | 20,23,200 | 70,53,600 | 3.4864x |
| Total | 44,90,400 | 1,64,31,600 | 3.6593x |
The NII category recorded the highest subscription among the three principal investor categories, followed by QIB and retail investors.
Pramodini Medicare IPO Listing Performance
Pramodini Medicare shares were listed on the NSE SME platform on August 19, 2026.
The final issue price was ₹118 per share, while the shares listed at ₹120, giving investors a listing gain of ₹2 per share or approximately 1.69%.
| Particular | Value |
|---|---|
| Listing Exchange | NSE SME |
| Listing Date | 19 August 2026 |
| Issue Price | ₹118 Per Share |
| Listing Price | ₹120 Per Share |
| Listing Gain | ₹2 Per Share |
| Listing Gain (%) | 1.69% |
The listing gain was modest compared with the IPO’s 3.66x overall subscription. This also demonstrates that subscription demand and unofficial GMP do not necessarily translate into a large listing premium.
Pramodini Medicare IPO Review
Pramodini Medicare operates in India’s diagnostic healthcare industry, providing radiology, clinical laboratory, nuclear medicine and teleradiology services. Its customer base includes public and private hospitals, certain government PSUs and medical colleges.
A key strength is the company’s diversified diagnostic service portfolio. Its radiology services cover MRI, CT scans, X-ray, ultrasound, mammography, DEXA and interventional radiology, while its nuclear medicine business includes PET-CT, SPECT and nuclear therapy.
The company also reported strong financial growth. Revenue from operations increased from ₹38.24 crore in FY2025 to ₹62.29 crore in FY2026, while PAT increased from ₹11.03 crore to ₹17.38 crore.
The IPO’s proposed capital expenditure is another important factor. The company plans to purchase medical equipment for existing diagnostic centres and proposed centres, including expansion activities in Hubli, Manjeri, Vijayawada and a new diagnostic centre in Bangalore.
However, diagnostic businesses are capital-intensive. Medical equipment requires substantial investment, regular maintenance and technological upgrades. The company’s borrowings increased from ₹10.81 crore in FY2025 to ₹17.85 crore in FY2026, making capital efficiency and debt management important factors to monitor.
The company also operates in a competitive market. Established diagnostic chains, hospitals and regional diagnostic providers compete for patients and institutional contracts.
Another consideration is the concentration of business in radiology. Available business research indicates that radiology represented approximately 97% of revenue in FY2026, with clinical laboratory and nuclear medicine contributing much smaller portions.
The IPO received 3.66x overall subscription, and the shares listed at ₹120 against the ₹118 issue price, providing a 1.69% listing gain.
Overall, Pramodini Medicare combines strong recent financial growth, an expanding diagnostic infrastructure and a broad technology-enabled service portfolio. Investors should nevertheless evaluate capital expenditure requirements, debt, service concentration, competition and execution risks before making an investment decision.
Pramodini Medicare IPO Strengths
- Established diagnostic healthcare business with roots dating back to 2000.
- Provides radiology, clinical laboratory and nuclear medicine services.
- Offers teleradiology services.
- Serves public hospitals, private hospitals, government PSUs and medical colleges.
- Presence across tier I, tier II and tier III cities.
- Broad radiology service portfolio.
- Revenue from operations increased significantly in FY2026.
- PAT increased from ₹11.03 crore in FY2025 to ₹17.38 crore in FY2026.
- FY2026 EBITDA was ₹31.99 crore.
- FY2026 ROE stood at 39.08%.
- FY2026 ROCE stood at 34.66%.
- Proposed investment in medical equipment can increase diagnostic capacity.
- Potential inorganic expansion provides another growth avenue.
Pramodini Medicare IPO Risk Factors
- Diagnostics is a competitive healthcare segment.
- Medical imaging equipment requires significant capital expenditure.
- Medical equipment requires regular maintenance and upgrades.
- Borrowings increased to ₹17.85 crore in FY2026.
- A substantial portion of revenue is derived from radiology services.
- The company may face risks in establishing and operating new diagnostic centres.
- Expansion into new geographies involves execution and operational risks.
- Inorganic acquisitions may involve integration and financial risks.
- SME-listed shares can experience higher price volatility and lower liquidity.
- Healthcare regulations and technological changes can affect operations.
- Future growth may require continued investment in medical equipment and infrastructure.
Pramodini Medicare IPO Promoters
The promoters of Pramodini Medicare Limited are Dr. Chalasani Kuldeep Kumar, Dr. Chalasani Kavitha, Ms. Chalasani Durga Aashritha, Ms. Chalasani Lalithakumari and Sri Ram Medicare Private Limited.
| Promoter | Status |
|---|---|
| Dr. Chalasani Kuldeep Kumar | Promoter |
| Dr. Chalasani Kavitha | Promoter |
| Ms. Chalasani Durga Aashritha | Promoter |
| Ms. Chalasani Lalithakumari | Promoter |
| Sri Ram Medicare Private Limited | Promoter |
Before the IPO, the promoter and promoter-group holding was approximately 85.71%. The post-issue promoter and promoter-group holding was approximately 62.64%.
Pramodini Medicare IPO Management Team
The company’s leadership includes Dr. Chalasani Kuldeep Kumar as Chairman and Managing Director. Rushikesh Vijay Gosavi is identified as the Company Secretary and Compliance Officer.
| Name | Designation |
|---|---|
| Dr. Chalasani Kuldeep Kumar | Chairman & Managing Director |
| Rushikesh Vijay Gosavi | Company Secretary & Compliance Officer |
Pramodini Medicare IPO Registrar Details
| Particular | Details |
|---|---|
| Registrar | Purva Sharegistry (India) Private Limited |
| Role | Registrar to the Issue |
| Contact Number | +91 22 4961 4132 |
| [email protected] | |
| Investor Grievance Email | [email protected] |
| SEBI Registration Number | INR000001112 |
| Particular | Details |
|---|---|
| Lead Manager | Smart Horizon Capital Advisors Private Limited |
| Former Name | Shreni Capital Advisors Private Limited |
| Role | Book Running Lead Manager |
| Telephone | 022-28706822 |
| Investor Grievance Email | [email protected] |
Purva Sharegistry (India) Private Limited acted as the registrar to the issue.
Pramodini Medicare IPO Lead Manager Details
Smart Horizon Capital Advisors Private Limited acted as the book running lead manager for the issue.
Pramodini Medicare Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Pramodini Medicare Limited |
| Registered Office | D. No. 29-4-54K, CSI Complex, Prakasam Road, Suryaraopet, Vijayawada, Andhra Pradesh – 520002 |
| Phone | +91 9985782727 |
| [email protected] | |
| Website | https://www.pramodinidiagnostics.com/ |
| CIN | U85110AP2000PLC035231 |
The registered office and investor contact information are stated in the company’s IPO documentation.
How to Check Pramodini Medicare IPO Allotment Status
Investors who applied for the Pramodini Medicare IPO can check the allotment status through the registrar’s facility or the stock exchange.
Through Purva Sharegistry
- Open the IPO allotment facility.
- Select Pramodini Medicare Limited.
- Choose the relevant search option.
- Enter the PAN, application number or DP/Client ID.
- Complete the required verification.
- Submit the details to view the allotment status.
Through NSE
Investors can also check the relevant IPO application information through the NSE platform using their application details.
The basis of allotment was finalised on August 17, 2026, followed by refunds and demat credit on August 18. The shares were listed on August 19, 2026.
Pramodini Medicare IPO Conclusion
Pramodini Medicare IPO offered investors exposure to a diagnostic healthcare company operating across radiology, clinical laboratory, nuclear medicine and teleradiology services.
The company has an operating history dating back to 2000 and serves public and private hospitals, government PSUs and medical colleges. Its diagnostic portfolio includes MRI, CT scans, X-ray, ultrasound, mammography, DEXA, PET-CT and other specialised services.
Financial performance improved substantially in FY2026. Revenue from operations increased to ₹62.29 crore from ₹38.24 crore in FY2025, while PAT increased to ₹17.38 crore from ₹11.03 crore. Total assets increased to ₹93.62 crore and net worth reached ₹53.15 crore.
The company plans to use a significant portion of the fresh issue proceeds for medical equipment purchases for existing and proposed diagnostic centres. It also intends to evaluate inorganic acquisition opportunities and use funds for general corporate purposes.
The IPO was priced at ₹110 to ₹118 per share and received overall subscription of approximately 3.66 times. The shares listed at ₹120 against the final issue price of ₹118, resulting in a listing gain of approximately 1.69%.
For long-term evaluation, investors should monitor the company’s ability to deploy its IPO proceeds effectively, expand diagnostic capacity, maintain profitability, manage borrowings and diversify its revenue base while responding to competition and technological changes in the healthcare diagnostics industry.
Pramodini Medicare IPO FAQs
What is Pramodini Medicare IPO?
Pramodini Medicare IPO was a book-built SME public issue of Pramodini Medicare Limited comprising a fresh issue of 53,50,800 equity shares and an Offer for Sale of 5,00,400 equity shares.
What was the Pramodini Medicare IPO price band?
The IPO price band was ₹110 to ₹118 per equity share. The final issue price was ₹118 per share.
What was the Pramodini Medicare IPO issue size?
The total issue size was approximately ₹69.04 crore, comprising 58,51,200 equity shares.
What was the Pramodini Medicare IPO lot size?
The lot size was 1,200 shares. Individual investors had to apply for a minimum of two lots, or 2,400 shares, requiring ₹2,83,200 at the upper price band.
When was the Pramodini Medicare IPO allotment date?
The basis of allotment was finalised on August 17, 2026.
When was the Pramodini Medicare IPO listing date?
Pramodini Medicare shares were listed on the NSE SME platform on August 19, 2026.
What was the Pramodini Medicare IPO listing price?
The shares listed at ₹120 against the final issue price of ₹118.
What was the Pramodini Medicare IPO listing gain?
The shares delivered a listing gain of ₹2 per share, equivalent to approximately 1.69%.
What was the Pramodini Medicare IPO subscription status?
The IPO was subscribed approximately 3.66 times overall. QIBs subscribed 3.6568x, NIIs 3.9315x and retail investors 3.4864x.
What was the Pramodini Medicare IPO GMP?
Available grey-market tracking showed GMP around ₹0 during the IPO period. GMP is unofficial and should not be treated as a guaranteed indicator of listing performance.
What does Pramodini Medicare Limited do?
Pramodini Medicare Limited is a diagnostic service provider offering radiology, clinical laboratory, nuclear medicine and teleradiology services to hospitals, government PSUs and medical colleges across India.
