Invicta Diagnostic SME: Check IPO Date, Live Subscription and Key Details
Invicta Diagnostics (PC Diagnostics) is a diagnostic chain operating primarily in the Mumbai Metropolitan Region (MMR). The company provides a one-stop solution by offering both radiology (X-ray, CT, MRI, PET CT) and pathology (routine and specialized tests) services through a hub-and-spoke model. The network includes 7 diagnostic centres and 1 centralised laboratory across MMR, ensuring high-end services are accessible. The company focuses on improving customer convenience through home sample collection and multiple report delivery options.
Price Range
₹80.0 - ₹85.0
Issue Size
₹28.12 Cr
Lot Size
1,600 shares
IPO Type
NSE SME
GMP
-
Est. Listing Price
₹85
Estimate Profit
-
Retail Portion
38.30%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
6.5
P/E Ratio
13.08
RoNW
36.25%
ROE
44.28%
Debt to Equity
0.26
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Timeline
IPO Opens
1 Dec
IPO Closes
3 Dec
Allotment
4 Dec
Listing
8 Dec
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 1 December 2025 | Subscription starts |
| IPO Close Date | 3 December 2025 | Subscription ends |
| Allotment Date | 4 December 2025 | Allotment |
| Listing Date | 8 December 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,72,000 |
SHNI (Min) | 3 | ₹4,08,000 |
SHNI (Max) | 7 | ₹9,52,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,88,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 40.28% |
| NII (Non-Institutional Investor) | 16.39% |
| SHNI (Small Non-Institutional Investor) | 5.46% |
| BHNI (Big Non-Institutional Investor) | 10.93% |
| Retail | 38.30% |
| Market Maker | 5.03% |
| Total | 100.00% |
IPO Objectives
- Funding capital expenditure for purchase of medical equipment towards establishment of five new diagnostic centres in Maharashtra (₹21.11 Cr).
- General Corporate Purposes.
Strengths
- The company offers a one-stop solution for both advanced radiology and pathology services, which minimizes patient referral needs.
- It is expanding its presence in the high-growth radiology sector within the Mumbai Metropolitan Region (MMR).
- The implementation of a Hub and Spoke Model enables wide customer reach and promotes operational efficiency across the MMR.
- The business shows strong financial growth, with Revenue increasing by 90% and PAT rising by 30% between FY24 and FY25.
- It maintains excellent profitability metrics with an RoNW of 36.25% and a high PAT margin of 16.34% in FY25.
Weaknesses
- The company faces a high capital expenditure requirement for new centers and equipment, subjecting it to execution risk and long gestation periods.
- It operates in a market with intense competition from larger national and regional players in the MMR, leading to pricing pressure.
- The business has a high dependency on the availability and maintenance of expensive medical equipment (CT, MRI, PET CT).
- There is geographic concentration in the MMR, making the business vulnerable to regional economic and competitive factors.
- The working capital intensive nature of operations requires continuous investment to support growth.
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Financial Performance
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 34.9 | 21.22 | 15.89 |
| Revenue (₹ Cr.) | 17.08 | 30.18 | 15.9 |
| PAT (₹ Cr.) | 4.08 | 4.93 | 3.81 |
| Net Worth (₹ Cr.) | 23.68 | 13.6 | 8.67 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Invicta Diagnostic Limited | 5.26 | 13.08 | 44.28% | 23.68 |
| Vijaya Diagnostic | 11.88 | 67.58 | 17.53% | 799 |
| Krsnaa Diagnostics | 2.86 | 31.17 | 9.16% | 883 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1x | 1.55x | 3.51x |
| NII | 0.68x | 0.74x | 6.96x |
| S-HNI | 0.45x | 0.58x | 6.27x |
| B-HNI | 0.79x | 0.81x | 7.3x |
| RII | 0.29x | 0.79x | 3.44x |
| Total | 0.54x | 0.95x | 4.27x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,34,400 | 18,75,200 | 15.94 |
| NII | 5,42,400 | 37,74,400 | 32.08 |
| Small NII | 1,80,800 | 11,34,400 | 9.64 |
| Big NII | 3,61,600 | 26,40,000 | 22.44 |
| RII | 12,67,200 | 43,58,400 | 37.05 |
| Total | 23,44,000 | 1,00,08,000 | 85.07 |
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Company Details
- Invicta Diagnostic Ltd.
- 1 GF, Plot 217, Ambavat Bhavan, N.M Joshi Marg, Delisle Road, Mumbai, -400013
- 022 - 4971 0036
- investors@pcdiagnostics.in
- https://www.pcdiagnostics.in/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html
Frequently Asked Questions
What diagnostic services does Invicta Diagnostic offer?
Invicta Diagnostic (PC Diagnostics) offers a complete range of radiology (CT, MRI, PET CT, X-ray) and pathology services (routine and specialized tests), following a one-stop solution model.
When will the Invicta Diagnostic IPO open for subscription?
The Invicta Diagnostic SME IPO opens for subscription on December 1, 2025, and closes on December 3, 2025.
What is the operating model of Invicta Diagnostic?
The company uses a Hub-and-Spoke model across the MMR, where Hubs provide advanced radiology and pathology, and Spokes handle pathology collection and basic radiology, ensuring a wide and convenient network.
What are the main objectives of the ₹26.71 Cr Fresh Issue?
The net proceeds are primarily for funding capital expenditure (₹21.11 Cr) to establish five new diagnostic centres in Maharashtra and for General Corporate Purposes.
What are the key financial strengths of Invicta Diagnostic?
Invicta Diagnostic has shown strong revenue growth (90% in FY25) and reports an excellent RoNW of 36.25% and a high PAT margin of 16.34%.
What is the IPO price band and listing date for Invicta Diagnostic?
The price band is ₹80.00 to ₹85.00 per share, and the tentative listing date on the NSE SME is December 8, 2025.
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