Gujarat Kidney IPO Listing: Healthcare Stock Debuts With Over 5% Premium On NSE, BSE

Gujarat Kidney and Super Speciality made a decent debut on the stock exchanges on December 30, as its shares listed at a premium of over 5 per cent. The healthcare stock opened at Rs 120 apiece on the NSE, providing a listing gain of 5.26 per cent over the issue price. On the BSE, the stock debuted at Rs 120.75 apiece, up 5.92 per cent.

The Gujarat Kidney IPO was available for public subscription from December 22 to 24. Its shares were allotted to successful applicants on December 26, and refund for unsuccessful ones was initiated on December 29.

The multi-speciality healthcare services provider raised Rs 250.80 crore through the IPO, which consisted entirely of a fresh issue of 22 million equity shares. Nirbhay Capital Services Pvt Ltd was the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd acted as the registrar.

Gujarat Kidney IPO: Here’s How Much Investors Made

Gujarat Kidney and Super Speciality’s IPO shares were offered with a price band of Rs 108 to Rs 114 per share. At the upper end of the price band, a retail investor had to invest a minimum of Rs 14,592 for one lot of 128 shares.

For retail investors who applied for one lot at the upper price band, the listing translated into a gain of around Rs 768 on the NSE and roughly Rs 864 on the BSE, before accounting for taxes and transaction costs.

Gujarat Kidney IPO Subscription Details

Gujarat Kidney IPO was overall subscribed 5.21 times the total shares on offer. Investors placed bids for 68.97 million shares against 13.23 million shares on offer.

The qualified institutional buyers (QIBs) subscribed the issue 1.06 times, the non-institutional investors (NIIs) booked 5.73 times, and the retail investors placed bids 19.04 times their quota.

Gujarat Kidney IPO Objectives

Gujarat Kidney and Super Speciality intends to use the Rs 250.80 crore net proceeds to expand its hospital footprint and strengthen its clinical capabilities. According to its red herring prospectus (RHP), the company will allocate Rs 77 crore for acquisition of Parekhs Hospital in Ahmedabad. The company will also allocate Rs 12.4 crore towards part-payment of the purchase consideration for Ashwini Medical Centre, which it has already acquired.

The company will invest Rs 30.1 crore in capital expenditure for setting up a new hospital in Vadodara. In addition, the company will also allocate Rs 6.83 crore for buying robotic equipment at its main facility in Vadodara.

The company further plans to use Rs 1.2 crore to repay or prepay its debts. Further, the multi-speciality healthcare company will keep Rs 10.78 crore aside for acquiring additional shareholding in its subsidiary, Harmony Medicare Private Limited, located in Bharuch.

The remaining proceeds will be used to fund inorganic growth through acquisitions and meeting general corporate purposes.

Gujarat Kidney IPO Anchor Investors List

Ahead of the opening of subscription window, Gujarat Kidney raised Rs 100 crore from institutional investors during the anchor round. Craft Emerging Market Fund PCC acquired the highest stake through two of its funds. Through Citadel Capital Fund, it bought 3.07 million shares, or about 35 per cent of the total anchor allocation for an investment of Rs 35 crore, and through Elite Capital Fund, it acquired 877,312 shares, or about 10 per cent of the anchor allocation for an investment of Rs 10 crore.

Other marquee investors during the anchor round were Khandelwal Finance Private Ltd and Venus Investments VCC - Venus Stellar Fund, acquiring about 15 per cent and 10 per cent of the anchor allocation, respectively.

Gujarat Kidney: Financial Performance

Gujarat Kidney and Super Speciality reported total income of Rs 15.27 crore for the quarter ended June 30, 2025. Its profit after tax (PAT) stood at Rs 5.40 crore, and Ebitda stood at Rs 8.63 crore. Its Ebitda margin came in at 56.51 per cent.

For the full year FY25, the multi-speciality healthcare services provider reported a total income of Rs 40.40 crore as against Rs 5.48 crore in FY24, an year-on-year (y-o-y) growth of 637 per cent. PAT climbed 455 per cent y-o-y to Rs 9.50 crore from Rs 1.71 crore a year earlier, while Ebitda jumped 749 per cent y-o-y to Rs 16.55 crore in FY25 from Rs 1.95 crore in the previous fiscal.

As of June 30, 2025, Gujarat Kidney reported a net worth of Rs 30.56 crore, with reserves and surplus of Rs 19.42 crore. The company’s debt stood at Rs 4.03 crore, while total assets were Rs 61.59 crore.