Gaudium IVF IPO GMP: As the initial public offering (IPO) of Gaudium IVF and Women Health entered its third and final day of subscription on February 24, the grey market premium (GMP) for its shares in the unlisted market slipped further, refecting a weak speculative interest ahead of listing.
The public issue was fully subscribed overall by the second day of bidding. However, the qualified institutional buyers (QIBs) portion was fully booked only on the third day.
Gaudium IVF and Women Health, a New Delhi-based in vitro fertilisation (IVF) and women’s healthcare services provider, offers assisted reproductive solutions, and related clinical care and support services.
The fertility services provider, which is set to become the first company from the segment to list on stock exchanges in India, seeks to raise Rs 165 crore through a combination of fresh issue of 11.39 million shares worth Rs 90 crore, and offer for sale of 9.49 million shares aggregating to Rs 75 crore.
Gaudium IVF has fixed the price band at Rs 75-79 per share, with a lot size of 189 equity shares per application. At the upper price band, retail investors will need to commit a minimum of Rs 14,931 to bid for one lot.
Gaudium IVF IPO Allotment, Listing Dates
The basis of allotment for Gaudium IVF IPO is expected on February 25, and shares are scheduled to list on both the stock exchanges, BSE and the NSE, on February 27.
Sarthi Capital Advisors is the book running lead manager and Bigshare Services is acting as the registrar.
Gaudium IVF IPO Objectives
Gaudium IVF plans to use the Rs 90 crore net proceeds from the fresh issue primarily to fund capital expenditure for setting up new IVF centres. According to its red herring prospectus (RHP), it will allocate Rs 50 crore for the same. The company will use Rs 20 crore to clear its debts and the remaining amount for general corporate purposes.
Gaudium IVF IPO Subscription Status: Day 3
The fertility services provider has reserved up to 50 per cent of the net issue for QIBs. It will allocate up to 35 per cent to retail investors and for non-institutional investors (NIIs), the company will allocate 15 per cent of the offering.
As of 4:00 PM on Day 3, the Gaudium IVF IPO was subscribed an overall 7.16 times the total offering, according to exchange data.
The QIB portion was booked1.62 times, the NII category saw 14 times subscription, and retail investors booked the issue 7.40 times their quota.
Gaudium IVF IPO GMP
Gaudium IVF IPO is quoting a grey market premium (GMP) of Rs 2 over the issue price, as of 4:00 PM on February 24, according to websites that track such trades.
The GMP has declined from a peak of Rs 15, quoted on February 17, to the current level.
Given the current GMP and the upper end of the price band, Rs 79, the estimated listing price of Gaudium IVF IPO shares comes at Rs 81 per share. This translates into a listing prospects of 2.53 per cent.
Gaudium IVF Financials
As of the half year ended September 30, 2025 (H1FY26), Gaudium IVF IPO reported total income of Rs 49.75 crore, an Ebitda of Rs 18.95 crore and a profit after tax (PAT) of Rs 12.51 crore.
For the full year FY25, the healthcare company reported a total income of Rs 70.96 crore, up from Rs 48.15 crore in FY24 and Rs 44.26 crore in FY23.
Ebitda for the full year came in at Rs 28.63 crore, up from Rs 19.27 crore in FY24 and Rs 20.07 crore in FY23. PAT stood at Rs 19.13 crore in FY25, up from Rs 10.32 crore in FY24, and Rs 13.53 crore in FY23.
The net worth of Gaudium IVF stood at Rs 58.85 crore as of September 30, 2025, more than doubling from Rs 22.73 crore over the preceding three years. It has a net debt of Rs 22.51 crore and reserves and surplus of Rs 28.16 crore, as of the same date.
