Modern Diagnostic SME IPO Subscription Status

A subscription of 376.97x means the IPO received bids for 377 times the number of shares available. For every 377 applications, only 1 can receive an allotment.

Here is what each category number tells you:

QIB at 193.51x: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 193.51x, it reflects serious institutional conviction.

NII at 702.43x: NII includes high net worth individuals applying above Rs 2 lakh. At 702.43x, allotment probability for NII applicants is very low. The bNII segment came in at 863.37x and sNII at 380.57x.

Retail at 342.46x: Retail investors applying up to Rs 2 lakh saw 342.46x subscription. Allotment in the retail category is done by lottery when oversubscription exceeds 1x. At 342.46x applications received, roughly 1 in 342 retail applicants can expect an allotment (~0%).

Based on the final subscription data, here is a realistic view of allotment probability by category.

Retail Category: Retail subscription came in at 342.46x based on shares applied and 342.46x based on applications. In the retail category, SEBI mandates a minimum of one lot per applicant when possible. Allotment is done by lottery. At 342.46x applications received, approximately 1 in 342 retail applicants can expect an allotment. Applying from multiple accounts does not improve individual chances but increases household probability if each account is eligible.

NII Category: NII allotment is proportional, not by lottery. At 702.43x, an NII applicant applying for the minimum NII lot can expect a very small proportional allotment. Larger NII applications receive proportionally more shares but the effective return per rupee invested is diluted significantly at this oversubscription level.

QIB Category: QIB allotment is discretionary and handled by the book running lead managers. Retail investors do not participate in this category.

Check the Modern Diagnostic SME IPO Allotment Status page from 5 January 2026 for your allotment result.

GMP for Modern Diagnostic SME stands at Rs 14.00 today, giving an estimated listing price of Rs 104.00 per share.

A subscription of 376.97x combined with a GMP of 15.56% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.

Track live GMP on the Modern Diagnostic SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.

Modern Diagnostic & Research Centre Limited (MDRC), established in 1985, is a prominent diagnostic services network in India. The company provides a comprehensive range of pathology and radiology solutions, including high-end molecular diagnostics, 3-Tesla MRI, and 128-slice CT scans. Operating 21 centers across 8 states, MDRC leverages a hub-and-spoke model and a centralized IT platform to offer digital reports and home sample collection.

For allotment results from 5 January 2026, visit the Modern Diagnostic SME IPO Allotment Status page. For listing day updates on 7 January 2026, download the IPOwiz App.