The Indian stock market is set to welcome a new player from the healthcare sector. Gujarat Kidney & Super Speciality, a prominent multispeciality healthcare service provider based in Gujarat, will open its initial public offering (IPO) for subscription next week. The public issue aims to raise capital to fuel the company's expansion and acquisition plans across the state.
Gujarat Kidney IPO: Key Dates and Offer Structure
The much-anticipated Gujarat Kidney IPO is scheduled to open for bidding on Monday, 22 December 2025. The subscription window will remain open for three days, closing on Wednesday, 24 December 2025. The company has fixed the price band for its equity shares in the range of ₹108 to ₹114 per share. Investors can bid in lots, with one lot comprising 128 shares.
The IPO is entirely a fresh issue of up to 2.20 crore equity shares, each with a face value of ₹2. While the exact amount to be raised has not been officially disclosed, the company has outlined clear objectives for the proceeds. The allocation strategy reserves not less than 75% for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and a maximum of 10% for retail investors.
Utilisation of Funds and Company's Growth Trajectory
The primary objective of raising funds is strategic expansion. A significant portion, ₹77 crore, is earmarked for the acquisition of Parekhs Hospital in Ahmedabad. Furthermore, the company plans to use ₹12.40 crore for part-payment towards acquiring Ashwini Medical Centre and ₹10.78 crore to buy additional shares in its subsidiary, Harmony Medicare Pvt. Ltd.
For organic growth, Gujarat Kidney has allocated ₹30.09 crore to fund the capital expenditure for setting up a new hospital in Vadodara. An additional ₹6.82 crore is designated for purchasing robotics equipment, underscoring a focus on advanced medical technology. A smaller portion, ₹1.20 crore, will be used for loan repayment, with the remaining funds allocated for general corporate purposes.
Financial Health and Market Sentiment
Financially, Gujarat Kidney has shown substantial growth. For the fiscal year ended 2024-25, the company reported a net profit of ₹9.49 crore on revenues from operations of ₹40.24 crore. This marks a significant jump from the previous fiscal year (2023-24), where profits were ₹1.71 crore on revenues of ₹4.77 crore. For the April-June quarter of FY 2025-26, the net profit stood at ₹5.40 crore with revenues of ₹15.26 crore.
The market sentiment appears positive ahead of the listing. As per latest data, the grey market premium (GMP) for Gujarat Kidney IPO is ₹7 per share. With the upper price band at ₹114, this indicates an expected listing price of around ₹121 per share, a potential premium of approximately 6%. The anchor investor book was successfully completed on Friday, 19 December 2025.
Nirbhay Capital Services is acting as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd is the registrar. With a network of seven multispeciality hospitals and four pharmacies offering nearly 490 beds, this IPO represents a significant moment for the regional healthcare provider as it seeks to scale its operations.
