Gujarat Kidney and Super Speciality Limited has announced its initial public offering, which will be open for subscription from December 22 to December 24. The anchor book is scheduled to open on December 19. The basis of allotment is expected to be finalised on December 26, and the company’s shares are proposed to be listed on the stock exchanges on December 30. Nirbhay Capital Services has been appointed as the sole merchant banker for the issue.
Issue Structure and Pricing
The IPO comprises a fresh issue of 2.2 crore equity shares, with no offer-for-sale component. The price band has been fixed at ₹108 to ₹114 per share, with a face value of ₹2 each. Retail investors can apply for a minimum of one lot of 128 shares, requiring an investment of ₹14,592 at the upper end of the price range. Bids can be placed in multiples of this lot size.
Investor Reservation
Of the total issue, 75% has been earmarked for Qualified Institutional Buyers, 15% for non-institutional investors, and 10% for retail investors. For non-institutional participants, small HNIs are required to apply for a minimum of 1,792 shares, translating to an investment of approximately ₹2.04 lakh, while large HNIs must bid for at least 8,832 shares, amounting to around ₹10 lakh.
Deployment of Funds
The company plans to allocate ₹77 crore from the IPO proceeds towards the acquisition of Parekhs Hospital in Ahmedabad. An additional ₹10.78 crore will be used to acquire a higher stake in its subsidiary, Harmony Medicare in Bharuch. Around ₹12.4 crore has been set aside for part-payment of the consideration related to the previously acquired Ashwini Medical Centre.
Further, ₹30 crore will be invested in the establishment of a new hospital in Vadodara, while ₹6.8 crore will be utilised for the purchase of robotic medical equipment. About ₹1.2 crore will go towards repayment of certain borrowings, with the remaining funds designated for inorganic growth initiatives and general corporate requirements.
Company Overview and Financials
Gujarat Kidney and Super Speciality Limited is promoted by Pragnesh Yashwant Singh Bharpoda. The company operates a network of seven multi-speciality hospitals along with four pharmacies, collectively offering 490 beds. For the quarter ended June 2025, the company reported revenue of ₹15 crore and a net profit of ₹5.4 crore. In FY25, net profit increased to ₹9.5 crore from ₹1.7 crore in the previous financial year, while revenue expanded to ₹40 crore from ₹4.8 crore.
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