Invicta Diagnostic’s price band fixed at Rs 80-85; IPO to open on December 01, 2025

New Delhi: Invicta Diagnostic Limited, a diagnostic chain offering comprehensive radiology and pathology solutions in Mumbai Metropolitan Region (MMR), under the brand name ‘PC Diagnostics’, announced that its initial public offering (IPO) will open for subscription on Monday, December 01, 2025.

The anchor portion will be opened on Friday, November 28, 2025, and the issue will conclude on Wednesday, December 03, 2025. The company intends to raise Rs 28.12 crore from the offering and aims to be listed on the NSE Emerge platform. The price band for the issue has been fixed at Rs 80-85 per share, and the lot size will be 1,600 equity shares.

Socradamus Capital Private Limited is the sole Book Running Lead Manager to the issue, and Bigshare Services Private Limited is the Registrar to the issue.

The IPO will comprise a fresh issue of 33,08,800 Equity Shares with a face value of Rs 10/- through the book-building route. As many as 7,98,400 equity shares have been reserved for the Anchor investors, 1,66,400 equity shares for the market maker, 5,42,000 equity shares allocated for the non-retail investors portion, 5,34,400 equity shares for net QIBs, and the individual investors portion accounts for 12,67,200 equity shares.

Minimum Application size is two lots for individual investor category and three lots for other categories other than individual investors.

According to RHP, Invicta Diagnostic Limited intends to utilise up to ₹21.11 crore of the total IPO proceeds to fund its capital expenditure for purchasing medical equipment towards the establishment of five new diagnostic centres in Maharashtra and plans to use remaining capital for general corporate purposes and issue expenses.

Acharya Manish Grover, Founder & Managing Director of Jeena Sikho Lifecare Limited invested 1.37% in Invicta Diagnostic Limited in exchange of 1.27 Lakh equity shares, adding to its earlier funding round backed by Sandeep Singh, Siddharth Nahar (Sapphire Capital), and Grobiz SME Opportunity Fund.

Invicta Diagnostic Limited’s operational network consists of a flagship centre located in Thane, which is the main hub; 3 other hub centres through the company’s subsidiaries; 3 spoke centres, including 1 spoke centre through its subsidiary; and 1 centralised laboratory co-located with one of the spoke centre. The company offers a range of approximately 60 routine and 487 specialized pathology tests and approximately 96 basic and 130 advanced radiology tests that cover a range of specialties and disciplines.

The business and brand “PC Diagnostics” were conceptualised and founded by Dr. Ketan Jayantilal Jain and Dr. Sanket Vinod Jain, its Promoters and Non-Executive directors, who are first-generation entrepreneurs in healthcare with more than 15 years and 7 years of experience, respectively, in diagnostics business and both are radiologists.

The promoters of the company include Dr. Ketan Jayantilal Jain, Dr. Sanket Vinod Jain, Rohit Prakash Srivastava, Badal Kailash Naredi and Jayesh Prakash Jain. Invicta Diagnostic Limited has immensely benefitted from their vision and leadership, and they along with the senior management, have been instrumental in formulating and executing the strategy of the company.

Invicta Diagnostic Limited recorded Rs 16.94 crore revenue from operations with a profit (PAT) of Rs 4.08 crore in the first six months of the current financial year, ended September 30, 2025, and Rs 30.09 crore revenue from operations and a profit (PAT) of Rs 4.92 crore in FY25.