Bookbuilding IPO | ₹251 Cr | Listed at BSE, NSE
Gujarat Kidney IPO is a book build issue of ₹250.80 crores. The issue is entirely a fresh issue of 2.20 crore shares of ₹250.80 crore.
Gujarat Kidney IPO bidding started from Dec 22, 2025 and ended on Dec 24, 2025. The allotment for Gujarat Kidney IPO was finalized on Dec 26, 2025. The shares got listed on BSE, NSE on Dec 30, 2025.
Gujarat Kidney IPO price band is set at ₹114 per share. The lot size for an application is 128. The minimum amount of investment required by an retail is ₹14,592 (128 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,792 shares), amounting to ₹2,04,288, and for bNII, it is 69 lots (8,832 shares), amounting to ₹10,06,848.
Nirbhay Capital Services Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Gujarat Kidney IPO RHP for detailed Information.
IPO Open
Mon, Dec 22, 2025
IPO Close
Wed, Dec 24, 2025
Issue Price
₹114 per share
Market Cap (Pre-IPO)
₹898.81 Cr
| IPO Date | 22 to 24 Dec, 2025 |
| Listed on | Tue, Dec 30, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹108 to ₹114 |
| Issue Price | ₹114 per share |
| Lot Size | 128 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,20,00,000 shares (agg. up to ₹251 Cr) |
| Share Holding Pre Issue | 5,68,43,250 shares |
| Share Holding Post Issue | 7,88,43,250 shares |
| BSE Script Code / NSE Symbol | 544666 / GKSL |
| ISIN | INE0V0W01025 |
Gujarat Kidney IPO offers total 2,20,00,000 shares. Out of which 1,65,00,000 (75.00%) allocated to QIB, 77,26,880 (35.12%) allocated to QIB (Ex- Anchor), 33,00,000 (15.00%) allocated to NII 22,00,000 (10.00%) allocated to RII and 87,73,120 (39.88%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,65,00,000 (75.00%) | NA |
| − Anchor Investor Shares Offered | 87,73,120 (39.88%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 77,26,880 (35.12%) | NA |
| NII (HNI) Shares Offered | 33,00,000 (15.00%) | NA |
| − bNII > ₹10L | 22,00,000 (10.00%) | 1,227 |
| − sNII < ₹10L | 11,00,000 (5.00%) | 613 |
| Retail Shares Offered | 22,00,000 (10.00%) | 17,187 |
| Total Shares Offered | 2,20,00,000 (100.00%) |
Investors can bid for a minimum of 128 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 128 | ₹14,592 |
| Retail (Max) | 13 | 1,664 | ₹1,89,696 |
| S-HNI (Min) | 14 | 1,792 | ₹2,04,288 |
| S-HNI (Max) | 68 | 8,704 | ₹9,92,256 |
| B-HNI (Min) | 69 | 8,832 | ₹10,06,848 |
Gujarat Kidney IPO raises ₹100.01 crore from anchor investors. Gujarat Kidney IPO Anchor bid date is December 19, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Dec 19, 2025 |
| Shares Offered | 87,73,120 |
| Anchor Portion (₹ Cr.) | 100.01 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 24, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 25, 2026 |
Incorporated in 2019, Gujarat Kidney and Super Speciality Limited (GKASSL) specializes in providing multispeciality healthcare services, including secondary and tertiary care, across multiple locations in Gujarat, India.
The company operates seven multispeciality hospitals and four pharmacies with a total bed capacity of 490 beds, an approved capacity of 455 beds, and an operational capacity of 340 beds.
The company's hospitals include Gujarat Kidney and Superspeciality Hospital (Vadodara), Gujarat Multispeciality Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), M/s. Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), and Ashwini Medical Centre (Anand). The company also operates Ashwini Medical Store (Anand).
Services:
Gujarat Superspeciality Hospital provides medical care in areas such as internal medicine, general surgery, minimally invasive procedures, orthopaedics and trauma treatment, joint replacement surgery, obstetrics and gynaecology, respiratory failure, non-interventional cardiology, diabetology, and anaesthesiology.
As of June 30, 2025, the company had 89 Doctors, 332 nurses and 338 other staff.
Competitive Strengths:
Gujarat Kidney & Super Speciality Ltd.'s revenue increased by 637% and profit after tax (PAT) rose by 454% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 61.59 | 55.34 | 20.53 | 3.87 |
| Total Income | 15.27 | 40.40 | 5.48 | 0.00 |
| Profit After Tax | 5.40 | 9.50 | 1.71 | -0.01 |
| EBITDA | 8.63 | 16.55 | 1.95 | -0.01 |
| NET Worth | 30.56 | 25.71 | 10.80 | 0.37 |
| Reserves and Surplus | 19.42 | 14.57 | 10.60 | 0.17 |
| Total Borrowing | 4.03 | 3.88 | 1.94 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Proposed acquisition of Parekhs Hospital at Ahmedabad. | 77.00 |
| 2 | Part-payment of purchase consideration for the already acquired “Ashwini Medical Centre”. | 12.40 |
| 3 | Funding of capital expenditure requirements of the Company towards setting up of a new hospital in Vadodara. | 30.10 |
| 4 | Buying robotics equipment for our hospital Gujarat Kidney & Super Speciality hospital in Vadodara location. | 6.83 |
| 5 | Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company | 1.20 |
| 6 | Funding inorganic growth through unidentified acquisitions and General Corporate Purposes. | 87.44 |
| 7 | Acquisition of additional shareholding in the subsidiary namely “Harmony Medicare Private Limited” at Bharuch | 10.78 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 36.61% |
| ROCE | 37.65% |
| Debt/Equity | 0.15 |
| RoNW | 36.61% |
| PAT Margin | 23.61% |
| EBITDA Margin | 41.12% |
| Price to Book Value | 22.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 1.85 | 2.74 |
| P/E (x) | 61.62 | 41.59 |
| Promoter Holding | 99.10% | 71.45% |
| Market Cap | ₹898.81 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees and commissions (including any underwriting commission, brokerage and selling commission) | 17.76 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Issue. Brokerage, underwriting commission and selling commission and bidding charges for members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.37 |
| 3 | Fees payable to Registrar to the Issue | 0.05 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 1.26 |
| 5 | Printing and stationery | 0.12 |
| 6 | Fee payable to advisors, legal counsel and other consultants | 4.05 |
| 7 | Advertising and marketing | 0.98 |
| 8 | Miscellaneous | 0.47 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹114.00 | ₹114.00 |
| Open | ₹120.75 | ₹120.00 |
| Low | ₹103.00 | ₹102.90 |
| High | ₹123.25 | ₹123.00 |
| Last Trade | ₹104.65 | ₹104.54 |
Lead Manager Reports
Gujarat Kidney IPO is a main-board IPO of 2,20,00,000 equity shares of the face value of ₹2 aggregating up to ₹251 Crores. The issue is priced at ₹114 per share. The minimum order quantity is 128.
The IPO opens on Mon, Dec 22, 2025, and closes on Wed, Dec 24, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Gujarat Kidney IPO using UPI as a payment gateway. Zerodha customers can apply in Gujarat Kidney IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gujarat Kidney IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Gujarat Kidney IPO opens on Mon, Dec 22, 2025 and closes on Wed, Dec 24, 2025.
Gujarat Kidney IPO lot size is 128, and the minimum amount required for application is ₹14,592.
You can apply in Gujarat Kidney IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Gujarat Kidney IPO will be done on Friday, December 26, 2025, and the allotted shares will be credited to your demat account by Mon, Dec 29, 2025. Check the Gujarat Kidney IPO allotment status.
The Gujarat Kidney IPO listing date is on Tue, Dec 30, 2025.
