The initial public offering (IPO) of Gujarat Kidney & Super Speciality Ltd opened on December 22, 2025, with a price band of ₹108–₹114 per share. The three-day issue will close on December 24, 2025, and is entirely a fresh issue aimed at raising around ₹250.8 crore. The funds will be used for expanding hospital operations, acquiring other healthcare facilities, investing in medical equipment, and general corporate purposes.
The IPO is being offered in lots of 128 shares, meaning the minimum investment for retail investors is approximately ₹14,592. The shares are expected to be allotted on December 26, and trading is likely to begin on December 30, 2025, on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
In the grey market, the shares have a premium of about 6%, suggesting a possible listing price near ₹121 per share at the upper band. Analysts see modest gains but remain cautious due to current market conditions and the IPO’s valuation.
Gujarat Kidney & Super Speciality operates seven hospitals and four pharmacies across central Gujarat, focusing on renal care, urology, orthopaedics, cardiology, gynaecology, and critical care. The company has a total bed capacity of 490, with 340 beds operational, and employs nearly 90 doctors, 330 nurses, and 300 support staff.
Financially, the company has shown strong growth. For the year ended March 31, 2025, total income reached approximately ₹40.4 crore, up from ₹5.48 crore in FY24. Profit after tax rose to ₹9.5 crore, and EBITDA margins improved to around 41%, reflecting efficient operations.
However, the IPO is priced on the higher side, with a pre-IPO P/E of about 61.6 times FY25 earnings, above the industry average. Analysts suggest cautious investors may wait for post-listing price movements before applying.
The raised funds will help the company acquire Parekhs Hospital in Ahmedabad, increase its stake in Harmony Medicare in Bharuch, establish a new facility in Vadodara, and upgrade medical infrastructure. Investors are advised to weigh the growth prospects and execution risks carefully before subscribing.
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