The initial public offering (IPO) for Modern Diagnostic Ltd, a Rs 36.89-crore issue, is set to close today with a price band of Rs 85-Rs 90. As of Friday morning, the IPO had received a subscription of 58.95 times its offering, with strong demand in retail and non-institutional investor categories. Grey market premiums suggest a 15.56% premium, indicating a moderate listing expected on January 7.