Invicta Diagnostic IPO: Price, GMP, Analysis, And Details

Invicta Diagnostic IPO- Company Analysis 

Invicta Diagnostic IPO under the SME IPO category is a book build issue of Rs. 28.12 Cr by Invicta Diagnostic Ltd. and offers services and solutions related to radiology and pathology. In association with seven diagnostic centres and one major lab in Mumbai, Maharashtra, Invicta Diagnostics provides services and solutions related to diagnostic pathology, diagnostic radiology, along with tele-radiology through the brand PC Diagnostics.

A company focusing specifically on diagnostic services with integrated pathology and radiology, Invicta Diagnostics Limited (PC Diagnostics) operates using a "hub and spoke" model within the Mumbai metropolitan area.

It has about 60 general tests and 487 unique tests in pathology, along with 96 basic tests in radiology and 130 advanced radiology tests. After merging laboratory and imaging services, Invicta Diagnostics offers a full range of diagnostic services which include:

• Routine tests.

• Specialised tests.

• Sample collection network.

Invicta Diagnostic IPO Details

The Invicta Diagnostic IPO date of opening is 01 December 2025, its initial public offering will end on 03 Dec, IPO allotment on Dec 04 and refund initiation on Dec 05, 2025. 

The Rs. 28.12 crore new SME IPO comprises a combination of fresh issue of 0.33 crore shares.

The Invicta Diagnostic IPO listing date (expected) might be on Monday, Dec 08, 2025, and listing at the NSE and SME. 

The Invicta Diagnostic IPO price band is Rs. 80 to Rs. 85.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 01, 2025
IPO Closing Date	Dec 03, 2025
IPO Allotment Date	Dec 04, 2025
Refund Initiation	Dec 05, 2025
IPO Listing Date	Dec 08, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Particulars	30 Sep 2025	31 Mar 2025	31 Mar 2024
Assets	34.90	21.22	15.89
Total Income	17.08	30.18	15.90
Profit After Tax (PAT)	4.08	4.93	3.81
EBITDA	6.77	9.20	7.09
Net Worth	23.68	13.60	8.67
Reserves & Surplus	14.42	5.18	8.54
Total Borrowing	3.72	3.54	3.81

 

Cash Flows

(Amount in lac)

Net Cash Flow	30 Sep 2025	31 Mar 2025	31 Mar 2024
Net Cash Flow Operating Activities	501.84	655.86	636.16
Net Cash Flow Investing Activities	(1,132.53)	(522.97)	(859.75)
Net Cash Flow Financing Activities	608.36	(50.32)	352.76

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding capital expenditure for the purchase of medical equipment towards the establishment of five new diagnostic centres in Maharashtra. ~ Rs. 21.11 Cr.

• General corporate purposes. 

 

Listed Peers of Invicta Diagnostic Ltd.

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
Vijaya Diagnostic Centre Limited	1.00	13.95	72.22
Krsnaa Diagnostics Limited	5.00	24.04	34.39

 

Valuation

KPI	Values
ROE	44.28%
ROCE	42.00%
Debt/Equity	0.26
RoNW	36.25%
PAT Margin	16.38%
EBITDA Margin	30.57%

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 6.21 from the last year, the resulting P/E ratio is 13.68x.

Explore the Mother Nutri IPO.

IPO's Strengths 

• Growing in the Mumbai Metropolitan Region ("MMR"), particularly in the radiology industry.

• A diagnostics supplier that provides a cost-effective one-stop shop.

• Technical proficiency and IT infrastructure.

• Implementation of the Hub and Spoke Model.

• Committed management team with substantial industry experience.

 

IPO’s Weaknesses 

• High Reliance on a select group of important clients.

• Concentration of revenue in particular geographic areas.

• Exposure to shifting cycles of demand.

• The company faces fierce competition from both domestic and foreign businesses across all of its product categories, which may limit its capacity to set prices.

• Substantial risk of fluctuations in foreign exchange.

 

Invicta Diagnostic IPO GMP (Grey Market Premium)

Invicta Diagnostic IPO GMP today is Rs. 0 as of 28 Nov 2025 at the time of writing this information.

Invicta Diagnostic IPO Summary

IPO Opening & Closing Date	01 Dec, 2025 to 03 Dec, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 80 to Rs. 85 per Share.
Lot Size	1600 Shares
Issue Size	33,08,800 Shares (Rs. 28.12 Cr)
Offer for Sale	-
Fresh Issue	33,08,800 Shares (Rs. 28.12 Cr)
Listing at	NSE, SME
Issue Type	Book build issue IPO
Registrar	Bigshare Services Pvt. Ltd.

 

 

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (3200 Shares) for Rs. 2,72,000, and in multiples thereof, while S-HNI investors can invest in a minimum of 3 Lots (4800 Shares) for Rs. 4,08,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Invicta Diagnostic IPO Allotment Status

To check the Invicta Diagnostic IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Invicta Diagnostic Ltd.

• Dr. Ketan Jayantilal Jain

• Dr. Sanket Vinod Jain

• Rohit Prakash Srivastava

• Badal Kailash Naredi

• Jayesh Prakash Jain.

Pre-Issue Promoter Shareholding	90.52%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Socradamus Capital Pvt. Ltd.
  
  

Dividend Policy

The company has not declared a dividend during the last three financial years.

 

 

 Conclusion

With a scalable hub-and-spoke approach, a strong presence in Mumbai, and good margins, Invicta Diagnostic IPO offers a targeted diagnostic business. Considering its geographic concentration and reliance on important clients, risk assessment is essential. Investors should assess the company's long-term growth potential and financial stability before applying.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.