Gaudium IVF and Women Health IPO Sees Strong Demand

Key Highlights

• The initial public offering (IPO) of Gaudium IVF and Women Health received bids for 5.65 crore shares against the total issue size of 1.46 crore shares, resulting in a subscription ratio of 3.87 times by 10:45 am on the third and final day of bidding on Tuesday.
• Retail Individual Investors (RII) portion was subscribed 4.96 times, with bids for 3.63 crore shares against the 73.10 lakh shares reserved for the category.

Subscription Breakdown

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• Retail Individual Investors (RII): subscribed 4.96 times, with bids for 3.63 crore shares against the 73.10 lakh shares reserved for the category.
• Cut-off bids accounted for 3.05 crore shares, while price bids stood at 57.61 lakh shares.
• Non-Institutional Investors (NII): subscribed 6.42 times overall, with the small NII portion subscribed 8.97 times and the big NII segment subscribed 5.14 times.
• Qualified Institutional Buyers (QIB): subscribed 3 percent, with bids for 1.19 lakh shares against the 41.77 lakh shares reserved for institutional investors.

Issue Details

• Gaudium IVF's Rs 165-crore book-built public issue comprises a fresh issue of shares worth Rs 90 crore and an offer for sale of Rs 75 crore by promoter and founder Dr. Manika Khanna.
• The price band for the issue has been fixed at Rs 75-79 per share, and the IPO will close for subscription later today.

Pre-IPO Developments

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• The company raised Rs 49.5 crore from four anchor investors on February 19, with 62.65 lakh shares allocated at the upper end of the price band.
• Meru Investment Fund was the largest anchor investor, investing nearly Rs 17 crore, followed by Sanshi Fund with an investment of about Rs 12.5 crore.

Company Overview

• Gaudium IVF was incorporated in 2015 and operates under a hub-and-spoke model, with seven hubs across key markets including Delhi, Mumbai, Punjab, Jammu and Kashmir, Bihar, and Bangalore, supported by 28 spoke centres through strategic alliances with infertility specialists.

Post-IPO Plans

• The company plans to use Rs 50 crore from the fresh issue proceeds to establish 19 new IVF centres, Rs 20 crore to repay certain outstanding loans, and the remaining funds for general corporate purposes.

Timeline

• February 25: expected to finalise share allotment
• February 27: scheduled to make its stock market debut on the BSE and NSE