New Delhi: The initial public offering (IPO) of fertility services provider Gaudium IVF and Women Health got fully subscribed on the second day of share sale on Monday. The company's IPO received bids for 2,85,63,948 shares against 1,46,20,340 shares on offer, translating into a 1.95 times subscription, as per data available with the NSE till 12:30 hours.
Retail individual investors part received 2.81 times subscription, while non- institutional investors subscribed 2.56 times. Meanwhile, the portion for qualified institutional buyers received only 1 per cent subscription. Gaudium IVF and Women Health Ltd on Thursday said it has raised Rs 49.5 crore from anchor investors. The company's Rs 165-crore IPO will conclude on February 24. With this, Gaudium IVF becomes the first company in the fertility care sector to tap the public markets.
The company fixed the price band at Rs 75-79 per share, valuing the company at Rs 575 crore. The proposed offering comprises a fresh issue of 1.14 crore equity shares and an offer for sale of nearly 95 lakh equity shares by promoter Manika Khanna. Proceeds from the fresh issue are intended to establish 19 new IVF centres across India, along with payment of debt and for general corporate purposes.
Founded by Khanna, Gaudium IVF has established itself as a pioneer in assisted reproductive technologies in India. It operates through a hub-and-spoke model, with seven hubs and 28 spokes across multiple states, enabling it to reach a wide patient base. Financially, the company reported revenue from operations of Rs 70.72 crore and a profit after tax (PAT) of Rs 19.13 crore for the financial year ending March 31, 2025. In FY24, revenue was Rs 47.89 crore, with a PAT of Rs 10.31 crore.
In July 2025, Indira IVF Hospital confidentially filed draft papers with Sebi to raise funds through an IPO. According to the Infomerics Research report, the broader Indian IVF market is projected to grow at a CAGR of 13 per cent, expanding from USD 1.32 billion in 2024 to USD 4.54 billion by 2034, presenting significant growth potential for players like Gaudium IVF. Gaudium IVF will make its debut on the stock exchanges on February 27.
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