Gujarat Kidney & Super Speciality IPO

Gujarat Kidney and Super Specialty Limited (GKASSL) was incorporated in 2019 and is a growing multispecialty healthcare provider offering secondary and tertiary care services across multiple locations in Gujarat, India. The company has established a strong presence in the central region of the state through a network of seven multispecialty hospitals and four pharmacies, enabling it to cater to both urban and semi-urban populations. GKASSL has a total bed capacity of 490 beds, with an approved capacity of 455 beds and an operational capacity of 340 beds, reflecting its phased expansion strategy and asset-light operating model. Its hospital portfolio includes Gujarat Kidney and Superspecialty Hospital (Vadodara), Gujarat Multispecialty Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), M/s. Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), and Ashwini Medical Centre (Anand). In addition, the company operates Ashwini Medical Store in Anand, supporting integrated patient care through in-house pharmacy services. The company provides a wide range of healthcare services. Secondary care services include general medical and surgical treatments, while tertiary care services focus on advanced and super-specialty surgical procedures. Gujarat Superspeciality Hospital, one of its key facilities, offers comprehensive medical care across multiple disciplines, including internal medicine, general surgery, minimally invasive procedures, orthopaedics and trauma care, joint replacement surgery, obstetrics and gynaecology, respiratory care, non-interventional cardiology, diabetology, and anaesthesiology. A key differentiator for GKASSL is its strong focus on renal sciences, with established sub-superspecialities in urology, positioning the company as a specialized healthcare provider in this segment. As of June 30, 2025, GKASSL employed a robust healthcare workforce comprising 89 doctors, 332 nurses, and 338 other staff members, enabling the company to maintain quality clinical outcomes and patient care standards across its facilities. GKASSL’s competitive strengths include its pre-eminence in renal sciences, an asset-light business model that allows efficient scaling and cost control, and a geographically focused strategy in central Gujarat that enhances operational efficiency and brand recognition. The company’s ability to attract and retain skilled and experienced medical professionals, combined with its track record of operational and financial performance, supports sustainable growth and positions GKASSL as a reliable multispeciality healthcare provider in the region. GKASSL provides a wide range of medical services, including general medicine and surgery, super-specialty surgical procedures, orthopedics, joint replacement, obstetrics and gynaecology, cardiology, diabetology, and anesthesiology, with a strong focus on renal sciences and urology. Supported by 89 doctors, 332 nurses, and 338 staff, the company benefits from an asset-light model, regional concentration, and the ability to attract experienced medical professionals, underpinning its consistent operational and financial growth.

Utilization of IPO Proceeds – Key Objects Acquisition of Parekhs Hospital, Ahmedabad (₹77.00 Cr.) Entry into Ahmedabad healthcare market Expansion of geographic presence and patient base Part-payment for Ashwini Medical Centre (₹12.40 Cr.) Settlement of pending acquisition consideration Strengthening balance sheet New Hospital in Vadodara – Capex (₹30.10 Cr.) Capacity expansion in a strong market Support for long-term growth Robotic Equipment – Vadodara (₹6.83 Cr.) Advanced surgical technology Improved clinical outcomes and precision Repayment of Secured Borrowings (₹1.20 Cr.) Reduction in debt and interest costs Improved financial health Inorganic Growth & General Corporate Purposes Future acquisitions and working capital needs Operational flexibility Additional Stake in Harmony Medicare, Bharuch (₹10.78 Cr.) Increased subsidiary ownership Better operational and financial integration

Objects of the Issue – Gujarat Kidney IPO Gujarat Kidney and Super Speciality Limited proposes to utilize the Net Proceeds from the IPO to strengthen its hospital network, expand capacity, enhance clinical capabilities, reduce debt, and support future growth initiatives.