Invicta Diagnostics Plans IPO for Strategic Expansion to Hit Rs 60 Crore Revenue by FY2027

Invicta Diagnostics, a Mumbai-based diagnostic service provider, is planning to launch an IPO to finance its expansion and aims to reach a revenue of Rs 60 crore by FY2027. The company operates a network of diagnostic centers in Mumbai using a hub-and-spoke model and intends to open 10 more centers across Maharashtra.

Invicta Diagnostics announced on Tuesday its plans to launch an initial public offering (IPO) aimed at raising funds for strategic expansion, targeting a revenue of Rs 60 crore by FY2027.

The Mumbai-based diagnostic services provider reported total revenues of Rs 15.83 crore and a profit after tax (PAT) of Rs 3.80 crore for FY24, based on restated consolidated financial information. In comparison, it posted a revenue of Rs 6.84 crore and a PAT of Rs 0.23 crore in FY23.

The company is confident of achieving Rs 25 crore in revenue for FY25. Operating under the brand name PC Diagnostics, Invicta runs a network of eight diagnostic centers in Mumbai using a hub-and-spoke model.

The flagship center, located in Thane, is equipped for comprehensive pathology specimen collections as well as basic and advanced radiology tests. Three hubs in Bhayandar, Byculla, and Marol support four additional satellite centers in Lower Parel, Sewri, Mazgaon, and Kalwa.

Already planning to open 10 more centers in Maharashtra over the next 12-18 months, the company is also making substantial investments in technology and human resources to uphold its commitment to quality and affordability.

Rohit Prakash Srivastava, Promoter and CFO at Invicta Diagnostics, stated that the IPO will help the company invest in advanced machinery and enhance service quality.

Founded by Ketan Jayantilal Jain and Sanket Vinod Jain in 2021, Invicta Diagnostics later added new investor promoters, Badal Kailash Naredi and Jayesh Prakash Jain, to support its growth ambitions.