Pramodini Medicare files IPO papers to raise funds for capex

Andhra Pradesh-based diagnostic service provider Pramodini Medicare has filed Draft Red Herring Prospectus with the NSE Emerge to raise funds via IPO for capital expenditure.

The company plans to mobilise funds by issuing 58.51 lakh shares via initial public offering (IPO) which consists of fresh issuance of 53.5 lakh shares, and an offer-for-sale of 5 lakh shares by promoters.

The company provides diagnostic services such as radiology, clinical laboratory and nuclear medicine service to public hospitals, private hospitals, certain PSU (public sector undertaking) and medical colleges.

Its business operates across four key models - public private partnership (with government hospitals and government teaching hospitals), private private partnership (with private sector hospitals), strategic partnership with PSUs, and private centres (standalone centres).

Pramodini Medicare that operates business through 15 diagnostic centres in 6 states has proposed to utilise the Rs 45.1 crore proceeds from the fresh offer for purchasing of medical equipments towards existing and proposed diagnostic centres, and the remaining amount for general corporate purposes and unidentified inorganic acquisition.

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The company that competes with listed peers like Invicta Diagnostic, Krsnaa Diagnostics, and Star Imaging & Path Labs has recorded profit of Rs 12.5 crore and revenue of Rs 44.4 crore for nine months period ended December 2025.

Profit in the year ended March 2025 grew by 74.3 percent to Rs 10.04 crore from Rs 5.76 crore in previous year. Revenue during the same period increased by 8.5 percent to Rs 38.2 crore from Rs 35.2 crore.

Smart Horizon Capital Advisors is appointed as the merchant banker for the Pramodini Medicare IPO.