Modern Diagnostic & Research Centre Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/05/2026 ,inter alia, to consider and approve 1. TO CONSIDER ....
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Modern Diagnostic & Research Centre Ltd has informed BSE about a Board Meeting scheduled for May 13, 2026. The meeting will consider two key items: (1) seeking approval for extension of time to utilize net issue proceeds from a previous IPO and complete the project as originally stated in the prospectus, and (2) approving the use of funds earmarked under General Corporate Purpose (GCP) for working capital requirements. The company is essentially seeking flexibility in deploying IPO funds, with part of the proceeds now intended to support operational working capital needs rather than solely capital expenditure.
This indicates the company may be facing delays in project execution or reallocating capital from growth plans to operations. Investors should monitor whether this signals slower-than-expected capex deployment or improving working capital needs, which could affect future growth trajectory.