About
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 Stock Quote & Charts
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 Details
| 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 |
IPO Timetable
- IPO OpenMon, Dec 22, 2025
- IPO CloseWed, Dec 24, 2025
- AllotmentFri, Dec 26, 2025
- RefundMon, Dec 29, 2025
- Credit of SharesMon, Dec 29, 2025
- ListingTue, Dec 30, 2025
IPO Reservation
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%) |
IPO Lot Size
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 |
IPO Anchor Investors
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 |
About Gujarat Kidney & Super Speciality Ltd.
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:
- Secondary Care Services: General and surgical treatments.
- Tertiary Care Services: Super speciality surgical procedures.
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:
- Pre-eminence in renal sciences, with established sub-superspecialities in urology
- Asset light business model with focus in central region of Gujarat
- Ability to attract, retain skilled and experienced quality medical professionals
- Track record of operating and financial performance and growth
Company Financials (Restated Consolidated)
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 | ||||
IPO Objects of the Issue
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 |
Key Performance Indicator (KPI)
| 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. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2025 available in RHP.
IPO Review
Gujarat Kidney IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 5 | 1 | 3 | 1 |
| Members | 1 | 0 | 0 | 0 |
IPO Subscription Status
The Gujarat Kidney IPO is subscribed 5.21 times on December 24, 2025 6:19:34 PM (Day 3). The public issue subscribed 19.04 times in the retail category, 1.06 times in the QIB category, and 5.73 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category |
Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 1.06 | 77,26,880 | 81,88,928 |
| NII | 5.73 | 33,00,000 | 1,88,99,840 |
| bNII (bids above ₹10L) | 5.25 | 22,00,000 | 1,15,52,896 |
| sNII (bids below ₹10L) | 6.68 | 11,00,000 | 73,46,944 |
| Retail | 19.04 | 22,00,000 | 4,18,80,320 |
| Total | 5.21 | 1,32,26,880 | 6,89,69,088 |
Total Application : 2,59,831
IPO Expenses
| # | 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 |
Listing Day Trading Information
| 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 |
Check IPO Performance…
IPO Registrar
MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- gujaratkidney.ipo@in.mpms.mufg.com
- Visit Website
IPO Lead Manager(s)
- Nirbhay Capital Services Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- +91 265 298 4800
- info@gujaratsuperspecialityhospital.com
- Visit Website
IPO FAQs
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 the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Gujarat Kidney IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
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.
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