Gujarat Kidney IPO: Check IPO Date, Live Subscription and Key Details
Gujarat Kidney and Super Speciality Limited (GKASSL), incorporated in 2019, is a regional healthcare provider in central Gujarat specializing in renal sciences and multi-speciality tertiary care. The company operates 7 hospitals and 4 pharmacies across Vadodara, Godhra, Bharuch, Borsad, and Anand, with an operational capacity of 340 beds. It focuses on high-end surgical procedures, including kidney transplants and robotic-assisted surgeries. GKASSL follows an asset-light 'roll-up' strategy, expanding rapidly through the acquisition and integration of existing medical facilities in underserved Tier-II and Tier-III markets.
Price Range
₹108.0 - ₹114.0
Issue Size
₹250.8 Cr
Lot Size
128 shares
IPO Type
Mainboard
GMP
₹2(+1.75%)
Est. Listing Price
₹116
Estimate Profit
₹256
Retail Portion
10.00%
Key Metrics
Check Live GMPGMPFace Value
₹2
EPS
2.74
P/E Ratio
41.59
RoNW
36.61%
ROE
36.61%
Debt to Equity
0.15
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Timeline
IPO Opens
22 Dec
IPO Closes
24 Dec
Allotment
26 Dec
Listing
30 Dec
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 22 December 2025 | Subscription starts |
| IPO Close Date | 24 December 2025 | Subscription ends |
| Allotment Date | 26 December 2025 | Allotment |
| Listing Date | 30 December 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,592 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,89,696 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,04,288 |
SHNI (Max)Below ₹10,00,000 | 68 | ₹9,92,256 |
BHNIAbove ₹10,00,000 | 69 | ₹10,06,848 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 75.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 10.00% |
| Total | 100.00% |
IPO Objectives
- Proposed acquisition of Parekhs Hospital at Ahmedabad (₹77.00 Cr).
- Funding capital expenditure for setting up a new hospital in Vadodara (₹30.10 Cr).
- Part-payment for the already acquired Ashwini Medical Centre (₹12.40 Cr).
- Acquisition of additional shareholding in the subsidiary Harmony Medicare (₹10.78 Cr).
- Purchase of robotic equipment (MAKO SmartRobotics™) for the Vadodara facility (₹6.83 Cr).
- Full or part repayment of certain secured borrowings (₹1.20 Cr).
- General Corporate Purposes and inorganic growth.
Strengths
- The company holds a Regional Dominance in Renal Care, established as a leader in central Gujarat for kidney transplants and urology, which ensures a repeat patient base for dialysis services.
- It utilizes a Successful Acquisition Model, with a proven track record of acquiring smaller hospitals and turning them profitable quickly to accelerate growth.
- The business exhibits High Capital Efficiency through an asset-light model (leased premises), resulting in a high RoCE of 37.65% and a strong PAT margin of 23.61% in FY25.
- It is making a Metropolitan Entry into the Ahmedabad market through the strategic acquisition of Parekhs Hospital, funded by IPO proceeds.
- The company maintains a Technological Edge by investing in advanced robotics and medical equipment to improve surgical outcomes and attract specialized medical talent.
Weaknesses
- There is significant Geographical Concentration, with 100% of operations currently in Gujarat, making the company vulnerable to regional policy or economic changes.
- The Aggressive Valuation with a Post-IPO P/E of 41.59x is high compared to historical levels and depends on sustaining the exceptional growth rates seen in FY25.
- The business faces Integration Risk, as it relies on successfully merging medical staff and hospital cultures after acquisitions, which could cause operational strain.
- The Low Retail Quota (10%) may lead to extreme oversubscription, significantly reducing the allotment chances for individual retail investors.
- There is a Liquidity and Debt risk, as the company is reliant on IPO proceeds to settle ₹12.40 Cr in outstanding payments for prior hospital acquisitions.
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Financial Performance
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 61.59 | 55.34 | 20.53 | 3.87 |
| Revenue (₹ Cr.) | 15.27 | 40.4 | 5.48 | 0 |
| PAT (₹ Cr.) | 5.4 | 9.5 | 1.71 | -0.01 |
| Net Worth (₹ Cr.) | 30.56 | 25.71 | 10.8 | 0.37 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Gujarat Kidney & Super Speciality | 22.62 | 41.59 | 36.61% | 30.56 |
| Yatharth Hospital & Trauma Care | 3.86 | 42.69 | 9.03% | 1,637 |
| Gpt Healthcare Limited | 4.42 | 25.86 | 17.11% | 248 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.34x | 0.34x | 1.06x |
| NII | 1.98x | 2.97x | 5.73x |
| S-HNI | 0.98x | 2.54x | 6.68x |
| B-HNI | 2.48x | 3.18x | 5.25x |
| RII | 5.07x | 10.7x | 19.04x |
| Total | 1.54x | 2.72x | 5.21x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 77,26,880 | 81,88,928 | 93.35 |
| NII | 33,00,000 | 1,88,99,840 | 215.46 |
| Small NII | 11,00,000 | 73,46,944 | 83.76 |
| Big NII | 22,00,000 | 1,15,52,896 | 131.7 |
| RII | 22,00,000 | 4,18,79,808 | 477.43 |
| Total | 1,32,26,880 | 6,89,68,576 | 786.24 |
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Company Details
- Gujarat Kidney & Super Speciality Ltd.
- Plot No. 1, City Sarve No. 1537/A, Jetalpur Road, Gokak Mill Compound, Alkapuri, Vadodara, Gujarat-390020
- +91 265 298 4800
- info@gujaratsuperspecialityhospital.com
- http://www.gujaratsuperspecialityhospital.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- gujaratkidney.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html
Frequently Asked Questions
What is the primary speciality of Gujarat Kidney & Super Speciality?
The company specializes in renal sciences, including kidney transplants, dialysis, and advanced urology, alongside other super-speciality services like orthopaedics and robotic surgery.
When does the Gujarat Kidney IPO open and close?
The IPO opens for subscription on Monday, December 22, 2025, and closes on Wednesday, December 24, 2025.
What is the IPO price band and minimum retail investment?
The price band is fixed at ₹108 to ₹114 per share. A retail investor can apply for a minimum lot of 128 shares, requiring an investment of ₹14,592.
What is the current GMP of Gujarat Kidney IPO today?
As of December 21, 2024, the GMP is approximately ₹7, indicating a potential listing price of ₹121 (a 6.14% premium over the issue price).
How will the IPO proceeds be used for growth?
The company will use the fresh issue proceeds primarily to acquire Parekhs Hospital in Ahmedabad (₹77 Cr), set up a new hospital in Vadodara, and purchase advanced robotic surgery equipment.
Where will the Gujarat Kidney shares be listed?
The shares are proposed to list on the mainboard of both the BSE and NSE, with a tentative listing date of December 30, 2025.
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