Gaudiom IVF’s India IPO gets 7.3 times SHR demand by last day
TL;DR
Gaudium IVF's ₹165 crore IPO closed with 7.3 times overall subscription, driven by strong retail and non-institutional demand. The issue, priced at ₹75-79 per share, aims to fund new IVF centers and debt repayment, with shares trading at an 11% grey market premium. Analysts note risks but recommend a 'SUBSCRIBE' rating, marking it as India's first public fertility care company.
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Gaudiom IVF’s India IPO gets 7.3 times SHR demand by last day
Gaudium IVF’s India IPO Gets 7.3 Times Subscription Demand by Last Day
The ₹165 crore initial public offering (IPO) of Gaudium IVF & Women Health Ltd closed on 24 February 2026 with robust demand, achieving a subscription of 7.3 times, driven primarily by retail and non-institutional investors according to the report. By the final day of bidding, the retail investor segment was subscribed 7.60 times, while the non-institutional investor (NII) category saw an impressive 14.05 times subscription. In contrast, the qualified institutional buyers (QIBs) portion was subscribed 1.62 times.
The IPO, priced between ₹75 and ₹79 per share, aims to value the company at approximately ₹575 crore at the upper end of the price band. It includes a fresh issue of 1.14 crore equity shares and an offer for sale (OFS) of 95 lakh shares by promoter Manika Khanna. Anchor investors, including Meru Investment Fund and Sanshi Fund I, contributed ₹49.5 crore ahead of the public issue.
Proceeds from the fresh issue will fund the establishment of 19 new IVF centers, debt repayment, and general corporate expenses according to reports. The company’s business model emphasizes revenue visibility through IVF cycle volumes, high gross margins in assisted reproductive technology (ART) procedures, and scalable infrastructure as detailed in the IPO analysis.
Shares are currently trading at a grey market premium (GMP) of ₹8.50, signaling an 11% potential listing gain. However, analysts caution that the company faces operational, medical, and reputational risks inherent to the fertility healthcare sector, including clinical outcomes and regulatory compliance challenges as noted by market observers.
The IPO is scheduled to list on 27 February 2026, with allotment expected on 24 February. At a price-to-earnings (P/E) ratio of 25.3x based on FY25 earnings, some analysts recommend a "SUBSCRIBE" rating for the issue.
This offering marks Gaudium IVF as the first Indian fertility care company to enter public markets, reflecting growing investor confidence in the healthcare sector.
