Rupix

Gaudium IVF & Women Health IPO

Gaudium IVF & Women Health came to market through an IPO that opened on 20 February 2026 and closed on 24 February 2026, and the shares listed on 27 February 2026 on BSE, NSE. The price band was ₹75 to ₹79 per share and one lot was 189 shares, so the minimum application was ₹14,931. The issue size was ₹165 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.

Bigshare Services Pvt.Ltd was the registrar to the issue, and Sarthi Capital Advisors Pvt.Ltd was the lead manager.

Issue details

Issue type
Book Built Issue
Price band
₹75 to ₹79
Lot size
189 shares
Minimum investment
₹14,931
Face value
₹5 per share
Issue size
₹165 crore
Fresh issue
1,13,92,500 shares (aggregating up to ₹90 crore)
Offer for sale
94,93,700 shares (aggregating up to ₹75 crore)
Listing at
BSE, NSE
Registrar
Bigshare Services Pvt.Ltd
Lead managers
Sarthi Capital Advisors Pvt.Ltd
Promoter holding before the issue
99.99%
Promoter holding after the issue
71.30%

Timeline

Opens
20 February 2026
Closes
24 February 2026
Allotment
25 February 2026
Listing
27 February 2026

Subscription status by day

As of 24 February 2026.

Day
1
2
3

Listing day and after

Issue price
₹79
Listed on
27 February 2026

About Gaudium IVF & Women Health

Incorporated in March 2015, Gaudium IVF and Women Health Limited have engaged in In Vitro Fertilization treatments throughout India and have expanded into several states utilizing a hub-and-spoke model. The company has more than thirty locations. These include seven hubs (centres) and twenty-eight spokes.

The strategic alliance between the organization and Infertility Experts, referred to as Spokes, was forged in order to meet the mutual goal of spreading awareness about Assisted Reproductive Technology or ART and In Vitro Fertilization or IVF treatments.The patients come from various countries such as Canada, the United Kingdom, the United States, Kenya, South Africa, and Oman. The company has hubs in Delhi, two Janakpuri and Kailash Colony; Mumbai; Khar West; Ludhiana; Srinagar; Patna;

and Bangalore, covering all important locations across the subcontinent. This company offers a range of specialized fertility services: In Vitro Fertilization, Intracytoplasmic Sperm Injection, Intrauterine Insemination, and ovulation induction. Our treatments are specifically directed for a variety of infertility conditions in both males and females. We also provide comprehensive gynaecological care for PCOD/PCOS and endometriosis and high-risk pregnancy management for women with complex fertility history or health conditions.

These facilities cover a wide scope of male infertility treatments, right from advanced sperm retrieval techniques.

As described in the offer document.

Objects of the issue

  • Funding capital expenditure towards establishment of New IVF Centers of the Company - ₹50 Cr.
  • Repayment/pre-payment, in full or in part, of certain outstanding loans availed by our Company - ₹20 Cr.
  • General Corporate Purpose

Strengths

  • Patient Centric Pricing Approach: The Company offers package-based treatments, bundled services, and installment facilities to make fertility treatments more affordable for the middle-income group. This increases patient trust as well as the customer base.
  • Strong Brand Positioning & Trust Creation: The Company undertakes intensive patient education, brand credibility, and stigma reduction through patient education. It also obtains accreditations from recognized medical associations to enhance brand credibility and trust.
  • Focus on Medical Tourism: The Company takes advantage of the cost advantage of doing business in India. It attracts international patients through multiple language support, concierge services, and tie-ups with international agencies. It has tie-ups with international agencies to ensure a steady flow of international patients.

Risks

  • Operational & Medical Risks in Fertility Services: The Company provides fertility services like IVF, IUI, ICSI, and egg freezing, which expose the company to medical and operational risks. If the company fails to meet medical and healthcare standards, it may affect its reputation and financial performance.
  • Related Party Transactions & Potential Conflicts: The Company may have entered into and may continue to enter into related party transactions, which may include loans, advances, and guarantees to related parties.
  • Dependence on Limited Embryologists: The company operates across seven locations and relies on the services of five embryologists. The inability to retain and recruit qualified embryologists may affect the company's operations and financial condition.

Financials (₹ crore)

Metric30-Sep-2531-Mar-2531-Mar-2431-Mar-23

Listed peers

Gaudium IVF
RoNW 41.71%%
Progyny Inc.
RoNW 12.90%%
Inspire IVF
RoNW 3.97%%

Gaudium IVF mobilises Rs 49.5 crore through anchor book for Rs 165-crore IPO. Gaudium IVF has allocated 62.65 lakh shares to four anchor investors at the higher price band. Meru Investment Fund was the largest among the anchor investors, investing close to Rs 17 crore for 21.51 lakh shares, followed by Sanshi Fund, which invested 15.8 lakh shares worth Rs 12.5 crore. Hornbill Orchid India Fund, and Carnelian India Multi-Strategy Fund invested 12.6 lakh shares worth Rs 10 crore each.

Promoters

Dr. Manika Khanna, Dr. Peeyush Khanna, Vishad Khanna. Promoter holding 99.99% before the issue and 71.30% after.

Application sizes

Retail (min)
1 lot, 189 shares, ₹14,931
Retail(max)
13 lots, 2457 shares, ₹1,94,103
sHNI(min)
14 lots, 2646 shares, ₹2,09,034
sHNI(max)
66 lots, 12474 shares, ₹9,85,446
bHNI(min)
67 lots, 12663 shares, ₹10,00,377

Valuation

EPS Pre IPO
₹3.12
EPS Post IPO
₹3.44
P/E Pre IPO
25.36
P/E Post IPO
22.99
ROE
41.31%
ROCE
39.70%
RoNW
41.71%
PAT Margin
26.96%
Debt/Equity
0.41
Price/Book
10.48
Market Cap
₹50 Cr

Registrar and allotment status

Registrar
Bigshare Services Pvt.Ltd
Allotment status
https://ipo.bigshareonline.com/ipo_status.html
Phone
+91-22-6263 8200
Email
ipo@bigshareonline.com

Work out the listing gain for this IPO

How allotment works

If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.

The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.

Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.

What happens on listing day

Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.

For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.

Questions about the Gaudium IVF & Women Health IPO

What is Gaudium IVF & Women Health IPO?

Gaudium IVF & Women Health IPO was a ₹165 crore book-built issue, comprising a fresh issue of ₹90 crore and an offer for sale of ₹75 crore. It was priced at ₹75–₹79 per share with a lot size of 189 shares (₹14,931). The IPO was open from February 20 to February 24, 2026 and was subscribed 7.27x. Shares listed on BSE and NSE on February 27, 2026 at ₹83, a 5.1% premium to the issue price of ₹79.

Bigshare Services Pvt. Ltd. is the registrar. Sarthi Capital Advisors Pvt. Ltd. is the book running lead manager.

What is the price band of Gaudium IVF & Women Health IPO?

The price band of Gaudium IVF & Women Health IPO is ₹75 to ₹79 per share.

What is the lot size of Gaudium IVF & Women Health IPO?

The lot size of Gaudium IVF & Women Health IPO is 189 shares.

What is the minimum investment for Gaudium IVF & Women Health IPO?

The minimum investment for Gaudium IVF & Women Health IPO is approximately ₹14,931 based on the upper price band.

What is the allotment date of Gaudium IVF & Women Health IPO?

The allotment date of Gaudium IVF & Women Health IPO is Feb 25, 2026.

How has Gaudium IVF & Women Health IPO share price performed since listing?

Gaudium IVF & Women Health IPO listed on Feb 27, 2026. It was issued at ₹83.0(NSE) and is currently around ₹104.23 as on 2-Nov-2026 3:30 PM, which is approximately 31.9% versus issue price. The 52-week high is ₹163.18.

How to check Gaudium IVF & Women Health IPO allotment status?

You can check Gaudium IVF & Women Health IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Gaudium IVF & Women Health IPO allotment status on Rupix for quick and easy access.

What was the price band of the Gaudium IVF & Women Health IPO?

₹75 to ₹79 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.

What was the lot size of the Gaudium IVF & Women Health IPO?

One lot was 189 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,931.

What was the minimum investment in the Gaudium IVF & Women Health IPO?

₹14,931, for one lot of 189 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.

When did the Gaudium IVF & Women Health IPO open and close?

It opened on 20 February 2026 and closed on 24 February 2026.

When was the allotment of the Gaudium IVF & Women Health IPO?

The basis of allotment was published on 25 February 2026 by Bigshare Services Pvt.Ltd, and allotted shares were credited to demat accounts before listing.

When did Gaudium IVF & Women Health list on BSE, NSE?

The shares listed on 27 February 2026 on BSE, NSE.

How large was the Gaudium IVF & Women Health IPO?

The issue size was ₹165 crore. The fresh issue was 1,13,92,500 shares (aggregating up to ₹90 crore). The offer for sale was 94,93,700 shares (aggregating up to ₹75 crore).