The IPO, which closed on February 24, was subscribed 7.27 times overall. The retail category was subscribed 7.60 times, while the NII portion saw strong demand at 14.05 times. The QIB (excluding anchor) portion was subscribed 1.62 times.
The company plans to utilise Rs 50 crore towards setting up new IVF centres, Rs 20 crore towards repayment or prepayment of certain loans and the balance towards general corporate purposes.
Gaudium IVF operates a fertility clinic chain across India using a hub-and-spoke model. The company runs more than 30 locations, including seven hubs and 28 spokes, and has centres in Delhi, Mumbai, Bangalore, Patna, Ludhiana and Srinagar.
It offers IVF, ICSI, IUI, ovulation induction, male infertility treatments and high-risk pregnancy management services. The company also caters to international patients from countries such as the US, UK, Canada, Kenya, South Africa and Oman, tapping into medical tourism demand.
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On the financial front, for FY25 the company reported total income of Rs 70.96 crore and PAT of Rs 19.13 crore. EBITDA stood at Rs 28.63 crore, translating into an EBITDA margin of 40.48%. For the six months ended September 30, 2025, total income was Rs 49.75 crore and PAT was Rs 12.51 crore.
With GMP flat at 0% despite healthy subscription, listing gains appear limited for now. Market participants will watch whether strong NII and retail participation translates into stable demand on debut or whether the stock lists near the issue price amid cautious broader market sentiment.