Upcoming IPO: Gujarat Kidney sets price band at Rs 108-114 per share for Rs 251 crore offer

Gujarat Kidney IPO

Gujarat Kidney & Super Speciality, the Gujarat-based multispeciality hospitals chain, has fixed price band at Rs 108-114 per share for its initial public offering (IPO) on December 16.

It is raising up to Rs 250.8 crore via IPO, which comprises of entirely fresh issue of 2.2 crore equity shares, at a valuation of nearly Rs 900 crore. Therefore, the company will receive entire IPO proceeds.

The healthcare services provider will spend Rs 77 crore of IPO proceeds for acquisition of Parekhs Hospital at Ahmedabad, Rs 12.4 crore for part-payment of purchase consideration for the already acquired Ashwini Medical Centre, and Rs 10.78 crore for acquisition of additional shareholding in subsidiary Harmony Medicare at Bharuch.

Further, Rs 30 crore will be utilised for setting up of a new hospital in Vadodara, Rs 6.8 crore for buying robotics equipment, and Rs 1.2 crore for repaying partial debt. And the remainder funds will be used for inorganic growth through unidentified acquisitions and general corporate purposes.

Gujarat Kidney & Super Speciality operates a chain of mid-sized multi-speciality hospitals, focussing on secondary and tertiary care super-speciality surgical services. It has seven multi-speciality hospitals with a total capacity of 490 beds, and four pharmacies.

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Investors can bid for a minimum of 128 equity shares and in multiples of 128 shares thereafter. The minimum investment by retail investors would be Rs 14,592 per lot, and the maximum at Rs 1,89,696 for 13 lots.

The company has reserved 75 percent of the total offer size for qualified institutional buyers, 15 percent for non-institutional investors, and 10 percent for retail investors.

Gujarat Kidney that competes with listed peers like Yatharth Hospital & Trauma Care Services, GPT Healthcare, and KMC Speciality Hospitals has reported profit of Rs 5.4 crore for the June 2025 quarter on revenue of Rs 15.26 crore.

The merchant banker managing the Gujarat Kidney IPO is Nirbhay Capital Services.