Gaudium IVF IPO Day 1: Public issue subscribed 43% by noon; retail portion at 70%

Gaudium IVF IPO

• Gaudium IVF IPO subscribed 19 percent on first day of bidding
• Retail investors drove demand, QIBs yet to bid
• IPO to close on Feb 24, listing expected on Feb 27

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The initial public offering of Gaudium IVF and Women Health was subscribed 43 percent by noon on the first day of bidding on Friday, driven largely by retail investor interest, while demand from institutional investors remained absent at this stage. Data available on the exchanges showed that investors bid for 62.61 lakh shares against Gaudium IVF IPO's total size of 1.46 crore shares.

The retail individual investors (RII) segment of Gaudium IVF IPO was subscribed 70 percent, with bids received for 51.12 lakh shares against the 73.10 lakh shares reserved for the category. Of this, bids worth 44.25 lakh shares were placed at the cut-off price, while price bids accounted for 6.87 lakh shares.

The non-institutional investor (NII) category was subscribed 37 percent overall. Within this segment, the big NII portion -- applications above Rs 10 lakh -- saw 20 percent subscription, while the small NII segment, covering bids between Rs 2 lakh and Rs 10 lakh, was subscribed 70 percent.

The qualified institutional buyer (QIB) portion, reserved for 41.77 lakh shares, had not received any bids as of the latest update.

Gaudium IVF's Rs 165-crore book-built public issue comprises a fresh issue of shares worth Rs 90 crore and an offer for sale of Rs 75 crore by promoter and founder Dr Manika Khanna. The price band has been fixed at Rs 75-79 per share, and the issue will remain open for subscription until February 24.

Ahead of the public issue, Gaudium IVF raised Rs 49.5 crore from anchor investors on February 19, with allocations made at the upper end of the price band. The company plans to use the bulk of the fresh issue proceeds to set up new IVF centres and repay certain outstanding borrowings. Gaudium IVF is likely to list on the BSE and NSE on February 27.

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