Gaudium IVF & Women Health IPO
Bookbuilding IPO | ₹165.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Fri, Feb 20, 2026
IPO Close
Tue, Feb 24, 2026
Price Band
₹75.00 to ₹79.00
Market Cap (Pre-IPO)
₹575.02 Cr
IPO Details
| IPO Date | Feb 20, 2026 to Feb 24, 2026 |
| Listing Date | Tentative: Feb 27, 2026 |
| Face Value | ₹5.00 per share |
| Price Band | ₹75.00 to ₹79.00 |
| Lot Size | 189 Shares (Minimum: ₹14,931.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹165.00 Crores |
| Total Shares Offered | 20,886,200 shares |
| Fresh Issue | 11,392,500 shares |
| Offer For Sale | 9,493,700 shares |
Gaudium IVF & Women Health IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII Shares Offered | Not less than 15.00% of the Net Issue |
Gaudium IVF & Women Health IPO Lot Size
Investors can bid for a minimum of 189 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 189 | ₹14,931 |
| Retail (Max) | 13 | 2,457 | ₹194,103 |
| S-HNI (Min) | 14 | 2,646 | ₹209,034 |
| S-HNI (Max) | 66 | 12,474 | ₹985,446 |
| B-HNI (Min) | 67 | 12,663 | ₹1,000,377 |
Gaudium IVF & Women Health Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 106.62 | 88.51 | 51.01 | 36.63 |
| Total Income | 49.75 | 70.96 | 48.15 | 44.26 |
| Profit After Tax | 12.51 | 19.13 | 10.32 | 13.53 |
| EBITDA | 18.95 | 28.63 | 19.27 | 20.07 |
| NET Worth | 58.85 | 46.30 | 26.99 | 22.73 |
| Reserves and Surplus | 28.16 | 15.60 | 26.00 | 21.74 |
| Total Borrowing | 22.51 | 18.93 | 15.73 | 9.78 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 41.31% |
| ROCE (Return on Capital Employed) | 39.70% |
| Debt/Equity | 0.41 |
| RoNW (Return on Net Worth) | 41.71% |
| PAT Margin (Profit After Tax Margin) | 26.96% |
| EBITDA Margin | 40.48% |
| Price to Book Value | 10.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.12 | 3.44 |
| P/E (x) | 25.36 | 22.99 |
| Promoter Holding | 99.99% | - |
Company Promoters
- The Promoters of the company are Dr. Manika Khanna
- Dr. Peeyush Khanna and Vishad Khanna.
Company Overview
Gaudium IVF & Women Health – Company Overview
- Company Background: Incorporated in March 2015, Gaudium IVF and Women Health Limited is a leading IVF and fertility treatment provider in India, operating through a hub-and-spoke healthcare model.
- Pan-India Presence: Operates 30+ centres, including 7 hubs and 28 spokes, expanding access to Assisted Reproductive Technology (ART) and IVF services across multiple states.
- Strategic Alliance Model: Collaborates with infertility experts under its spoke network to increase awareness and accessibility of IVF and ART treatments in India.
- International Patient Base: Serves medical tourism patients from countries including Canada, UK, USA, Kenya, South Africa, and Oman, strengthening its global healthcare footprint.
- Key City Centres: Presence in major cities including Delhi (Janakpuri & Kailash Colony), Mumbai (Khar West), Ludhiana, Srinagar, Patna, and Bangalore, covering strategic metropolitan and regional markets.
- Core Fertility Treatments: Offers advanced reproductive procedures such as IVF, ICSI (Intracytoplasmic Sperm Injection), IUI (Intrauterine Insemination), and Ovulation Induction, catering to male and female infertility cases.
- Women’s Health Services: Provides specialized care for PCOD/PCOS, endometriosis, and high-risk pregnancy management, ensuring comprehensive reproductive healthcare.
- Male Infertility Solutions: Equipped with advanced sperm retrieval techniques and male fertility treatments, offering complete infertility solutions under one roof.
- Healthcare Focus: Positioned as a growing fertility clinic chain in India, combining medical expertise, advanced ART technology, and expanding clinic network.
Company Strengths
- Patient-Centric Approach
- Expert team
- Using next-gen INTEGRA Ti labs for ICSI.
- Highly Technical USG Guided Services
- Established central hubs in prime urban locations, including Mumbai, Bangalore, Delhi NCR, and Patna.
- Asset Light Business Model
Use of Proceeds
| 1) | Funding capital expenditure towards establishment of New IVF Centers of the Company. | 50.00 |
| 2) | Repayment/pre-payment, in full or in part, of certain outstanding loans availed by the Company. | 20.00 |
| 3) | General Corporate Purpose | |
| Total | 70.00 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Gaudium IVF & Women Health IPO Peer Comparison
Gaudium IVF & Women Health peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Gaudium IVF and Women Health | 3.12 | - | 7.54 | - | 41.71 | - | - |
| Progyny Inc. | 50.52 | - | 394.20 | 41.56 | 12.90 | 5.33 | - |
| Inspire IVF Public Company | 0.17 | - | 4.34 | 11.43 | 3.97 | 0.25 | - |
Quick Info
| Sector | healthcare services |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹575.02 Cr |
Important Dates
| IPO Open | Feb 20, 2026 |
| IPO Close | Feb 24, 2026 |
| Allotment Date | Feb 25, 2026 |
| Credit to Demat | Feb 26, 2026 |
| Listing Date | Tentative: Feb 27, 2026 |
Lead Manager(s)
Sarthi Capital Advisors Pvt.Ltd.
Registrar
Bigshare Services Pvt.Ltd.
Description
- IPO Type: Book build issue worth ₹165.00 crores, comprising a fresh issue of 1.14 crore shares (₹90.00 Cr) and an offer for sale of 0.95 crore shares (₹75.00 Cr).
- IPO Dates: The IPO opens for subscription on February 20, 2026 and closes on February 24, 2026.
- Allotment & Listing: Allotment is expected on February 25, 2026, with tentative listing on BSE and NSE scheduled for February 27, 2026.
- Price Band: The IPO price band is fixed between ₹75 to ₹79 per share, offering investors participation in the healthcare and IVF sector.
- Lot Size: Minimum application size is 189 shares, making it relatively accessible for retail investors.
- Retail Investment Requirement: Minimum retail investment is ₹14,931 (189 shares) based on the upper price band.
- sNII Investment Requirement: Minimum application of 14 lots (2,646 shares) amounting to approximately ₹2,09,034.
- bNII Investment Requirement: Minimum of 67 lots (12,663 shares) requiring an investment of around ₹10,00,377.
- Investor Focus: Suitable for investors tracking healthcare IPOs, IVF clinic chains, and growing fertility treatment companies in India.