Gaudium IVF & Women Health IPO Update

Subscription Status

As of the second day of bidding, the initial public offering (IPO) of Gaudium IVF & Women Health was subscribed over 3 times. The retail individual investors' portion was subscribed 4.64 times, while the non-institutional investors (NII) segment received 6.11 times subscription. The qualified institutional buyers (QIBs) category was subscribed 3% as of February 24. The issue has attracted bids for 5.30 crore equity shares compared to 1.46 crore shares on offer.

Grey Market Premium (GMP)

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The GMP of Gaudium IVF & Women Health has fallen to ₹5, indicating a premium of ₹5 above the issue price of ₹79 per share. Based on this trend, the estimated listing price is around ₹84 per share, reflecting a premium of about 6.33% over the issue price.

Financial Performance

Gaudium IVF & Women Health posted a sharp turnaround, with profit after tax (PAT) surging nearly 85% year-on-year to ₹18.3 crore in FY25. The company's profitability remains robust, backed by EBITDA margins of around 40% and a strong return on equity (ROE).

Brokerage Views

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BP Equities has given a 'Subscribe' rating to the Gaudium IVF IPO, citing improving financial performance, scalable infrastructure, and structural industry growth drivers. Swastika Investmart has also assigned a 'Subscribe' rating, although noting that the valuation at the upper price band looks relatively expensive.

IPO Details

The price band for the Gaudium IVF & Women Health IPO has been fixed at ₹75 to ₹79 per share, with a lot size of 189 shares. At the upper end of the band, the company plans to raise ₹165 crore through the public issue. The net proceeds will be used for capital expenditure related to setting up new IVF centres, repayment or prepayment of certain borrowings, and general corporate purposes.

Listing Schedule

The IPO allotment is expected to be finalized on February 25, while the listing is tentatively scheduled for February 27.