Pramodini Medicare

ListedListed 19 Aug 2026NSE SMENSE: PRAMODINI-SMCheck allotment

Current price₹ 109−7.63% since issue

Listing day+1.69%

Issue price: ₹ 118
Issue size: ₹ 69.04 Cr.
Min. investment: ₹ 1,41,600
Listing price: ₹ 120
Subscribed: 3.66x
Lot size: 1,200 shares
P/E: 14.97
RoNW: 32.69%
RoCE: 34.66%
PAT margin: 27.90%
EPS: ₹ 7.88
Promoter stake: 62.64%

About

Pramodini Medicare Limited was started in 2000. It is a diagnostic services company. It runs radiology services such as MRI, CT scan, X-ray, ultrasound with colour doppler, mammography and Dexa scan, clinical laboratory services such as pathology, microbiology, immunology and biochemistry, and nuclear medicine services such as PET-CT, SPECT and nuclear therapy. The company works through four models. Under the public private partnership model it runs diagnostic centres inside government hospitals and medical colleges on long term agreements. Under the private private model it runs centres inside private hospitals. It also works with central government PSUs, and it runs some of its own standalone centres and labs. It has a 24x7 teleradiology unit and a processing laboratory at Vijayawada. As on 4 August 2026 the company ran 16 diagnostic centres across seven states, serving government hospitals, private hospitals, PSUs, medical colleges and individual patients in Tier I, Tier II and Tier III cities. As on 31 March 2026 it had 161 permanent employees.

Timeline

Opens
12 Aug
done
Closes
14 Aug
done
Allotment
17 Aug
done
Refunds
18 Aug
done
Demat credit
18 Aug
done
Listing
19 Aug
done

Subscription

How many times each investor group bid for its share, as of 26 Aug 2026, 08:33 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type

Retail (Min)	1	1,200	₹ 1,41,600
Retail (Max)	1	1,200	₹ 1,41,600
HNI (Min)	2	2,400	₹ 2,83,200

Company overview

Financials

Financials by year

Assets	93.62	56.45	48.78
Total Income	63.38	38.55	35.79
Profit After Tax	17.38	11.14	7.14
EBITDA	30.9	20.97	15.53
NET Worth	53.15	35.77	24.75
Reserves and Surplus	36.46	34.49	23.46
Total Borrowing	17.85	10.81	11.96

Strengths

FY2026 was a strong year. Total income grew 64% from Rs 38.55 crore to Rs 63.38 crore and profit after tax grew 56% from Rs 11.14 crore to Rs 17.38 crore.
Operating margin is high. EBITDA was Rs 30.90 crore on total income of Rs 63.38 crore in FY2026, which is close to half of the income.
Profit has grown every year, from Rs 7.14 crore in FY2024 to Rs 11.14 crore in FY2025 and Rs 17.38 crore in FY2026.
The PPP model with government hospitals gives long term contracts and a steady flow of patients without spending on marketing.
The business is spread over 16 centres in seven states, so it does not depend on one city or one hospital.
It offers radiology, laboratory and nuclear medicine together, which is a wider range than most small diagnostic chains.
Rs 45.15 crore of the issue money is for buying medical equipment for existing and new centres, which will add earning capacity.
Net worth improved from Rs 24.75 crore in FY2024 to Rs 53.15 crore in FY2026.

Risks

Borrowing went up 65% in one year, from Rs 10.81 crore to Rs 17.85 crore.
A part of the money is kept for general corporate purposes and an unidentified acquisition. The company has not named the target, so investors do not know where that money will go.
The PPP and hospital contracts run on MOUs that come up for renewal. If a government hospital does not renew or gives the contract to another operator, that centre income stops.
Diagnostics needs heavy spending on machines. MRI, CT and PET-CT equipment is costly and becomes outdated, so capital spending never really stops.
A large part of the business comes from government hospitals and PSUs, where payments can be delayed and rates are fixed by tender.
The company is small, with 161 employees and 16 centres, and competes with large national diagnostic chains that have better brand pull and lower cost per test.
Promoter holding will come down from 85.71% to 62.64% after the issue.
This is an SME issue. One lot is 1,200 shares, which is about Rs 1.41 lakh at the upper band of Rs 118, and SME shares usually trade in low volume after listing.

What the money is for

Objects of the issue

Funding of capital expenditure for purchase of Medical Equipments towards Existing and Proposed Diagnostic Centres	45.15
General corporate purposes and unidentified inorganic acquisition	—

Promoters

Chalasani Kuldeep Kumar
Chalasani Kavitha
Chalasani Durga Aashritha
Chalasani Lalithakumar
Sri Ram Medicare Pvt.Ltd

Promoter holding85.71%→62.64%before → after the issue · down 23.07 points

Registrar, lead managers and documents

Listing on: NSE SME
Face value: ₹ 10 a share
Registrar: Purva Sharegistry (India) Private Limited
Lead managers: Smart Horizon Capital Advisors
Basis of allotment: Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.