Regulatory15 May 2026, 02:43 pm
Modern Diagnostic IPO Proceeds Utilization Monitored
AI Summary
CARE Ratings, the monitoring agency, has issued a report on the utilization of proceeds from Modern Diagnostic & Research Centre Ltd's IPO for the year ended March 31, 2026. The report, submitted in compliance with SEBI regulations, indicates that the IPO proceeds of ₹36.89 crore were utilized as per the offer document, although there was a delay in utilization. The report declares no deviations from the stated objectives and confirms no conflicts of interest.
Key Highlights
- CARE Ratings monitors Modern Diagnostic's IPO proceeds utilization.
- IPO proceeds of ₹36.89 crore utilized as per offer document.
- No deviation from IPO objectives reported.
- Monitoring agency reports a delay in utilization of funds.
- No conflict of interest reported by the monitoring agency.
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