Gaudium IVF IPO
Gaudium IVF & Women Health Ltd. is launching a book-building IPO comprising a fresh issue of 1,13,92,500 shares and an offer for sale (OFS) of 94,93,700 shares by existing shareholders.
The IPO opens for subscription on Friday, February 20, 2026 and closes on Tuesday, February 24, 2026. The allotment is expected to be finalised on Wednesday, February 25, 2026, and the shares are proposed to be listed on BSE and NSE with a tentative listing date of Friday, February 27, 2026.
Listing- Yet to be listed
Gaudium IVF IPO
IPO Size: Rs. 165.00 crore (approx. at upper band)
Business: IVF, ART & Women Healthcare Services
Network: Hub-and-spoke fertility clinic model
Key Risk: Healthcare expansion execution risk
Chanakya View: Neutral to Positive for long-term healthcare growth theme
🕗 Last Update: 17 February 2026, 6.00 AM
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IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Opening Date | Friday, 20 Feb 2026 |
| IPO Closing Date | Tuesday, 24 Feb 2026 |
| Listing Date (Tentative) | Friday, 27 Feb 2026 |
| Face Value | Rs. 5 per share |
| Price Band | Rs. 75 – Rs. 79 |
| Lot Size | 189 Shares |
| Issue Type | Book Building IPO |
| Total Issue Size | 2,08,86,200 Equity Shares |
| Total Issue Amount | Rs. 156.65 crore – Rs. 165.00 crore |
| Fresh Issue | 1,13,92,500 Equity Shares |
| Offer for Sale | 94,93,700 Equity Shares |
| Listing At | BSE, NSE |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Fri, Feb 20, 2026 |
| IPO Closes | Tue, Feb 24, 2026 |
| Allotment | Wed, Feb 25, 2026 |
| Refunds | Wed, Feb 25, 2026 |
| Credit of Shares | Thu, Feb 26, 2026 |
| Listing | Fri, Feb 27, 2026 |
Investor Reservation
| Category | Shares Offered |
|---|---|
| QIB | Not more than 50.00% of Net Issue |
| NII | Not less than 15.00% of Net Issue |
| Retail | Not less than 35.00% of Net Issue |
IPO Lot Size & Investment Amount
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min) | 1 | 189 | 14,931 |
| Retail (Max) | 13 | 2,457 | 1,94,103 |
| S-HNI (Min) | 14 | 2,646 | 2,09,034 |
| B-HNI (Min) | 67 | 12,663 | 10,00,377 |
What Does Gaudium IVF & Women Health Ltd. Do?
Incorporated in March 2015, Gaudium IVF and Women Health Limited provides assisted reproductive technology (ART) and IVF treatments across India through a hub-and-spoke model. The company operates over thirty locations, including seven hubs and twenty-eight spoke centres, and has strategic alliances with infertility experts to expand access to fertility treatment.
Its centres are located in Delhi NCR, Mumbai, Bangalore, Patna, Ludhiana and Srinagar, serving domestic as well as international patients. Services include IVF, ICSI, IUI, ovulation induction, advanced male infertility treatments and specialised gynaecological care including PCOD/PCOS and high-risk pregnancy management.
Competitive Strengths
Patient-centric treatment approach
Experienced clinical team
Advanced INTEGRA Ti labs for ICSI
Highly technical USG-guided services
Established urban hub network
Asset-light expansion strategy
Financials (Rs. crore – Consolidated)
| Particulars | 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 |
| EBITDA | 18.95 | 28.63 | 19.27 | 20.07 |
| PAT | 12.51 | 19.13 | 10.32 | 13.53 |
| Net Worth | 58.85 | 46.30 | 26.99 | 22.73 |
| Reserves & Surplus | 28.16 | 15.60 | 26.00 | 21.74 |
| Total Borrowings | 22.51 | 18.93 | 15.73 | 9.78 |
Key Performance Indicators (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 21.25% | 41.31% |
| ROCE | 21.03% | 39.70% |
| Debt/Equity | 0.38 | 0.41 |
| RoNW | 21.34% | 41.71% |
| PAT Margin | 25.14% | 26.96% |
| EBITDA Margin | 38.29% | 40.48% |
| EPS (Rs.) | 3.12 | 3.44 |
Objects of the Issue
| Purpose | Amount (Rs. crore) |
|---|---|
| Funding capital expenditure towards establishment of New IVF Centers | 50.00 |
| Repayment/pre-payment of certain borrowings | 20.00 |
| General Corporate Purposes | Balance |
| Total | 70.00 |
Promoters & Shareholding
The Promoters of the company are Dr. Manika Khanna, Dr. Peeyush Khanna and Vishad Khanna.
| Particulars | Holding |
|---|---|
| Pre-IPO | 99.99% |
| Post-IPO | To be declared |
Company Address
Gaudium IVF & Women Health Ltd.
B1/51, Janak Puri, B-1,
New Delhi, New Delhi – 110058
Phone: 011-4885 8585
Email: compliance@gaudiumivfcentre.com
Visit Website
IPO Lead Manager(s)
Sarthi Capital Advisors Pvt.Ltd.
IPO Registrar
Bigshare Services Pvt.Ltd.
Gaudium IVF IPO – Review
Gaudium IVF operates in a structurally growing fertility services segment driven by rising infertility awareness, medical tourism and increasing acceptance of assisted reproductive technology in India. The hub-and-spoke expansion strategy combined with an asset-light model supports scalability and margin expansion potential.
However, healthcare execution risks, competitive fertility clinic landscape and valuation comfort near the upper price band remain key monitorables for investors.
Chanakya View
Neutral to Positive. Suitable for investors looking at niche healthcare growth stories with a medium to long-term perspective.
About Chanakya IPO Analysis
Chanakya provides independent IPO analysis combining fundamentals, grey market intelligence and technical insights for retail and long-term investors.
Disclaimer
This IPO coverage is for informational purposes only. Investors are advised to read the RHP/DRHP carefully and consult a SEBI-registered investment advisor before investing.
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