About
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 Stock Quote & Charts
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 Details
| 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 |
| 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 (agg. up to ₹1 Cr) Nikunj Stock Brokers Ltd. |
| 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 |
IPO Timetable (Tentative)
- IPO OpenMon, Dec 1, 2025
- IPO CloseWed, Dec 3, 2025
- AllotmentThu, Dec 4, 2025
- RefundFri, Dec 5, 2025
- Credit of SharesFri, Dec 5, 2025
- ListingMon, Dec 8, 2025
IPO Reservation
Invicta Diagnostic IPO offers total 33,08,800 shares. Out of which 13,32,800 (40.28%) allocated to QIB, 5,34,400 (16.15%) allocated to QIB (Ex- Anchor), 5,42,400 (16.39%) allocated to
NII
12,67,200 (38.30%) allocated to RII and 7,98,400 (24.13%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,66,400 (5.03%) |
| QIB Shares Offered | 13,32,800 (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 (16.39%) |
| − bNII > ₹10L | 3,61,600 (10.93%) |
| − sNII < ₹10L | 1,80,800 (5.46%) |
| Retail Shares Offered | 12,67,200 (38.30%) |
| Total Shares Offered | 33,08,800 (100.00%) |
IPO Lot Size
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 |
IPO Anchor Investors
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 |
About Invicta Diagnostic Ltd.
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:
- A flagship hub in Thane West offering full-spectrum pathology and advanced radiology (PET CT, MRI)
- Three additional hubs (Bhayandar, Byculla, Marol) providing specialised diagnostic services
- Three spokes in Lower Parel, Sewri, and Kalwa focused on basic imaging (X-ray, ultrasound) and sample collection.
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:
- Routine Tests: Includes CBC, lipid profiles, liver function tests (LFT), kidney function tests (KFT), and thyroid panels
- Specialised Tests: Covers molecular diagnostics, immunoassays, infectious disease markers (e.g., dengue, COVID-19), cancer markers, and genetic panels
- Sample Collection Network: Invicta uses phlebotomists and collection partners to reach patients at home or through its spoke centres.
As of October 31, 2025, the company employed 157 permanent employees.
Competitive Strength:
- Expanding presence in the Mumbai Metropolitan Region (“MMR”), specifically in the radiology sector;
- A diagnostics provider that offers a one-stop solution at an affordable price.
- Technical capability and technology with IT infrastructure;
- Dedicated management team with significant industry experience; and
- Implementation of the Hub and Spoke Model.
Company Financials (Restated Consolidated)
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 | |||
IPO Objects of the Issue
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 |
Key Performance Indicator (KPI)
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 Rs | 5.86 | 6.50 |
| P/E (x) | 14.51 | 13.08 |
| Promoter Holding | 90.52% | 66.69% |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
Invicta Diagnostic IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 1 | 0 | 5 | 0 |
Invicta Diagnostic IPO Subscription Status (Bidding Detail)
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.
IPO Expenses
| # | 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 |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹85.00 |
| Open | ₹100.00 |
| Low | ₹95.00 |
| High | ₹105.00 |
| Last Trade | ₹96.70 |
Check IPO Performance…
IPO Registrar
Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- Visit Website
IPO Lead Manager(s)
- Socradamus Capital Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- 022 – 4971 0036
- investors@pcdiagnostics.in
- Visit Website
IPO FAQs
What is the Invicta Diagnostic IPO?
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.
How to apply in Invicta Diagnostic IPO through Zerodha?
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 the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Invicta Diagnostic IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
When Invicta Diagnostic IPO will open?
The Invicta Diagnostic IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025.
What is the lot size of Invicta Diagnostic IPO?
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.
How to apply for Invicta Diagnostic IPO?
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.
When is Invicta Diagnostic IPO allotment?
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.
When is Invicta Diagnostic IPO listing date ?
The Invicta Diagnostic IPO listing date is on Mon, Dec 8, 2025.
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