Gujarat Kidney and Super Speciality has filed preliminary papers with the SEBI to raise funds via an initial public offering for acquisition and expansion.
The IPO will comprise solely fresh issues of 2.2 crore equity shares with no offer-for-sale component. Hence, the entire IPO proceeds will be received by the company, as per the DRHP filed on March 28.
The Gujarat-based healthcare company operates six mid-sized multispeciality hospitals and three pharmacies with an operational capacity of 250 beds.
Gujarat Kidney and Super Speciality plans to spend Rs 77 crore out of net fresh issue proceeds for the proposed acquisition of Parekhs Hospital at Ahmedabad and Rs 12.4 crore for part-payment of purchase consideration for the already acquired Ashwini Medical Centre.
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Further, Rs 30.16 crore will be used for setting up a new hospital in Vadodara, Rs 7.28 crore for buying robotics equipment, and Rs 1.5 crore for the repayment of debt. The remainder IPO funds will be utilised for funding inorganic growth and general corporate purposes.
In the last financial year of 2024-25, the company recorded a profit of Rs 1.71 crore on a revenue of Rs 4.77 crore. Further, profit in the six-month period ended September 2024 stood at Rs 5.63 crore on revenue of Rs 18.67 crore.
Nirbhay Capital Services is appointed as the merchant banker for the Gujarat Kidney and Super Speciality IPO.
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