Modern Diagnostics & Research Center IPO

Let's review Modern Diagnostics & Research Center's IPO. This SME company, operating diagnostic centers, is raising ₹37 Cr for expansion. With a ₹90 price band and ₹135 Cr valuation, funds directly benefit the company, and promoters retain 73%, which is good. Comparing valuations, its P/E of around 15 and P/B of 2.5 seem attractive against listed peers. Cash flow is generally positive, with recent negative attributed to expansion. Operating on leases, similar to some established players, avoids heavy initial costs.