Gaudium IVF & Women Health Limited will open its ₹165 crore book-built initial public offering on 20 February 2026, comprising a fresh issue of ₹90 crore and an offer for sale aggregating ₹75 crore, as per the Red Herring Prospectus. The capital raise comes amid a visible expansion in the company’s asset base over the past three financial years.
The public issue closes on 24 February 2026, with listing on BSE and NSE tentatively scheduled for 27 February 2026.
Incorporated in March 2015, Gaudium IVF and Women Health Limited has engaged in In Vitro Fertilization (IVF) treatments throughout India and has expanded into several states utilizing a hub-and-spoke model. The company operates over thirty locations, which include seven hubs (centres) and twenty-eight spokes.
The organization has entered into a strategic alliance with Infertility Experts, known as Spokes, to achieve the mutual objective of raising awareness regarding Assisted Reproductive Technology (ART) and In Vitro Fertilization (IVF) treatments. The company serves patients from various countries, including Canada, the United Kingdom, the United States, Kenya, South Africa, and Oman.
Gaudium IVF & Women Health IPO Issue Structure, Price Band and Lot Size
The IPO has a price band of ₹75 to ₹79 per equity share of face value ₹5 each. At the upper band, the total issue size aggregates to approximately ₹165 crore across 2,08,86,200 equity shares.
Investors can apply for a minimum lot of 189 shares. At ₹79 per share, a single retail lot requires ₹14,931. Retail investors can bid up to 13 lots (2,457 shares) amounting to ₹1,94,103.
For Small HNIs, the minimum application is 14 lots (2,646 shares), translating to ₹2,09,034. The Big HNI category launchs at 67 lots (12,663 shares), amounting to ₹10,00,377 at the upper band.
Post-issue equity share capital will expand from 6,13,94,384 shares to 7,27,86,884 shares.
Gaudium IVF & Women Health IPO Timeline
- IPO Opens: Friday, 20 February 2026
- IPO Closes: Tuesday, 24 February 2026
- Basis of Allotment Finalisation: Wednesday, 25 February 2026
- Initiation of Refunds: Wednesday, 25 February 2026
- Credit of Shares to Demat Accounts: Thursday, 26 February 2026
- Listing on BSE and NSE: Friday, 27 February 2026
Gaudium IVF & Women Health Financial Performance
According to the restated consolidated financial statements, total income stood at ₹70.96 crore for the year concludeed 31 March 2025, compared with ₹48.15 crore in FY24 and ₹44.26 crore in FY23. For the six months concludeed 30 September 2025, total income was ₹49.75 crore. Profit after tax was ₹19.13 crore in FY25, up from ₹10.32 crore in FY24. In FY23, PAT was ₹13.53 crore. For the half-year concludeed 30 September 2025, PAT stood at ₹12.51 crore.
EBITDA for FY25 was ₹28.63 crore compared with ₹19.27 crore in FY24 and ₹20.07 crore in FY23. For the six-month period concludeed September 2025, EBITDA came in at ₹18.95 crore.
Total assets increased to ₹88.51 crore as of 31 March 2025 from ₹51.01 crore a year earlier and ₹36.63 crore in FY23. As of 30 September 2025, total assets were ₹106.62 crore. Net worth rose to ₹46.30 crore at the conclude of FY25 from ₹26.99 crore in FY24. As of 30 September 2025, net worth stood at ₹58.85 crore.
Total borrowings were ₹18.93 crore as of 31 March 2025, compared with ₹15.73 crore in FY24 and ₹9.78 crore in FY23. As of 30 September 2025, borrowings stood at ₹22.51 crore. Reserves and surplus were reported at ₹15.60 crore in FY25, ₹26.00 crore in FY24 and ₹21.74 crore in FY23, while the figure stood at ₹28.16 crore as of September 2025.
Gaudium IVF & Women Health Allocation Structure and Intermediaries
Not more than 50% of the net issue is reserved for Qualified Institutional Buyers, while not less than 35% is allocated to retail investors and not less than 15% to Non-Institutional Investors.
Sarthi Capital Advisors Pvt. Ltd. is acting as the book running lead manager to the issue, and Bigshare Services Pvt. Ltd. is the registrar.
The pre-IPO market capitalisation, based on the upper price band, is indicated at ₹575.02 crore.
Utilisation of Proceeds
The company proposes to utilise the net proceeds from the issue towards Funding capital expconcludeiture towards the establishment of New IVF Centers of the Company (₹50.00 crore), repayment/pre-payment, in full or in part, of certain outstanding loans availed by the Company (₹20.00 crore), and meet general corporate expenses.
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