Bookbuilding IPO | ₹28 Cr | Listed at NSE SME | Mon, Dec 1, 2025 - Wed, Dec 3, 2025
Invicta Diagnostic IPO is a book build issue of ₹28.12 crores. The issue is entirely a fresh issue of 0.33 crore shares of ₹28.12 crore.
Invicta Diagnostic IPO bidding started from Dec 1, 2025 and ended on Dec 3, 2025. The allotment for Invicta Diagnostic IPO was finalized on Dec 4, 2025. The shares got listed on NSE SME on Dec 8, 2025.
Invicta Diagnostic IPO price band is set at ₹85 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,08,000.
Socradamus Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Invicta Diagnostic IPO RHP for detailed Information.
IPO Open
Mon, Dec 1, 2025
IPO Close
Wed, Dec 3, 2025
Issue Price
₹85 per share
Market Cap (Pre-IPO)
₹106.86 Cr
| IPO Date | 1 to 3 Dec, 2025 |
| Listed on | Mon, Dec 8, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹85 |
| Issue Price | ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 33,08,800 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 1,66,400 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 31,42,400 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 31,42,400 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 92,63,173 shares |
| Share Holding Post Issue | 1,25,71,973 shares |
| NSE Symbol | INVICTA |
| ISIN | INE0XJ501010 |
Invicta Diagnostic IPO comprises a total issue size of 33,08,800 shares. The net offer to the public is 31,42,400 shares, after excluding 1,66,400 shares allotted on a firm basis. Of the Net offer 13,32,800 (42.41%) are allocated to QIB, 5,42,400 (17.26%) allocated to NII 12,67,200 (40.33%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,32,800 | 42.41% | 40.28% |
| − Anchor Investor Shares Offered | 7,98,400 | 24.13% | |
| − QIB (Ex. Anchor) Shares Offered | 5,34,400 | 16.15% | |
| NII (HNI) Shares Offered | 5,42,400 | 17.26% | 16.39% |
| − bNII > ₹10L | 3,61,600 | 10.93% | |
| − sNII < ₹10L | 1,80,800 | 5.46% | |
| Retail Shares Offered | 12,67,200 | 40.33% | 38.30% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,66,400 | 5.03% | |
| Total Shares Offered | 33,08,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
Invicta Diagnostic IPO raises ₹6.79 crore from anchor investors. Invicta Diagnostic IPO Anchor bid date is November 28, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 28, 2025 |
| Shares Offered | 7,98,400 |
| Anchor Portion (₹ Cr.) | 6.79 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 2, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 3, 2026 |
Incorporated in January 2021, Invicta Diagnostic Limited offers radiology and pathology solutions. The company provides pathology and radiology testing, including imaging, radiology, and teleradiology, under the brand 'PC Diagnostics' through 7 diagnostic centres and a central laboratory across Mumbai, Maharashtra.
Invicta Diagnostics Limited (trading as PC Diagnostics) is a Mumbai-based diagnostic services company specialising in integrated pathology and radiology solutions. The company follows a hub‑and‑spoke model across the Mumbai Metropolitan Region, featuring:
The company offers around 60 routine and 487 specialised pathology tests, plus about 96 basic and 130 advanced radiology tests.
Invicta Diagnostics provides a comprehensive suite of diagnostic services, which includes:
As of October 31, 2025, the company employed 157 permanent employees.
Competitive Strength:
Invicta Diagnostic Ltd.'s revenue increased by 90% and profit after tax (PAT) rose by 30% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 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 | 4.08 | 4.93 | 3.81 |
| EBITDA | 6.77 | 9.20 | 7.09 |
| NET Worth | 23.68 | 13.60 | 8.67 |
| Reserves and Surplus | 14.42 | 5.18 | 8.54 |
| Total Borrowing | 3.72 | 3.54 | 3.81 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure for purchase of medical equipment towards establishment of five new diagnostic centres in Maharashtra; and | 21.11 |
| 2 | General Corporate purposes | 4.07 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 44.28% |
| ROCE | 42.00% |
| Debt/Equity | 0.26 |
| RoNW | 36.25% |
| PAT Margin | 16.38% |
| EBITDA Margin | 30.57% |
| Price to Book Value | 5.26 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.86 | 6.50 |
| P/E (x) | 14.51 | 13.08 |
| Promoter Holding | 90.52% | 66.69% |
| Market Cap | ₹106.86 Cr. |
The Invicta Diagnostic IPO is subscribed 4.27 times on December 3, 2025 6:19:59 PM (Day 3). The public issue subscribed 3.44 times in the individual investors category, 3.51 times in the QIB category, and 6.96 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 3.51 | 5,34,400 | 18,75,200 | 3 |
| NII* | 6.96 | 5,42,400 | 37,74,400 | 407 |
| bNII (bids above ₹10L) | 7.30 | 3,61,600 | 26,40,000 | |
| sNII (bids below ₹10L) | 6.27 | 1,80,800 | 11,34,400 | |
| Individual Investor | 3.44 | 12,67,200 | 43,58,400 | 1,362 |
| Total | 4.27 | 23,44,000 | 1,00,08,000 | 1,772 |
Total Application : 1,772
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager fees including underwriting commission | 1.66 |
| 2 | Brokerage, selling commission and upload fees | 0.01 |
| 3 | Registrar to the Issue | 0.01 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising and marketing expenses | 0.91 |
| 6 | Regulators including stock exchanges | 0.05 |
| 7 | Printing and distribution of issue stationary | 0.01 |
| 8 | Others, if any (market making, depositories, secretarial, peer review auditors, etc.) | 0.28 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹85.00 |
| Open | ₹100.00 |
| Low | ₹95.00 |
| High | ₹105.00 |
| Last Trade | ₹96.70 |
Lead Manager Reports
Invicta Diagnostic IPO is a SME IPO of 33,08,800 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹85 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Dec 1, 2025, and closes on Wed, Dec 3, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Invicta Diagnostic IPO using UPI as a payment gateway. Zerodha customers can apply in Invicta Diagnostic IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Invicta Diagnostic IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Invicta Diagnostic IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025.
Invicta Diagnostic IPO lot size is 1600, and the minimum amount required for application is ₹2,72,000, with 2 lots being the minimum application size.
You can apply in Invicta Diagnostic IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Invicta Diagnostic IPO will be done on Thursday, December 4, 2025, and the allotted shares will be credited to your demat account by Fri, Dec 5, 2025. Check the Invicta Diagnostic IPO allotment status.
The Invicta Diagnostic IPO listing date is on Mon, Dec 8, 2025.
