Gaudium IVF IPO Opens For Bidding; Check Key Details Here
- By Kotak News Desk
- 23 Feb 2026 at 4:55 PM IST
- Market News
- 4 minutes read
Gaudium IVF and Women’s Health IPO opened on 20 February 2026, aiming to raise ₹165 crore with a price band of ₹75 to ₹79 per share, valuing the company at ~₹575 crore.
The Initial Public Offering (IPO) of Gaudium IVF and Women's Health Limited opened for public subscription on Friday, 20 February 2026. The New Delhi-based company, which provides fertility services in several Indian states, aims to raise approximately ₹165 crore through the IPO. The IPO comprises a combination of fresh issue of 11,392,500 equity shares worth ₹90 crores and an offer for sale of 9,493,700 equity shares worth ₹75 crores.
The company has set the price band for its IPO at ₹75 to ₹79 per share. Investors can apply for a minimum of 189 shares (one lot) and multiples thereof. The IPO will close for subscription on Tuesday, 24 February 2026. The allotment of shares will take place on the next day, i.e., Wednesday, 25 February 2026. The listing is scheduled for Friday, 27 February 2026. The shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Gaudium IVF IPO Day 1 Subscription At 0.90 Times
Healthcare services have taken centre stage in the primary market with the Gaudium IVF (in vitro fertilisation) initial public offering (IPO). On Gaudium IVF IPO day 1, 20 February 2026, the total subscriptions stood at 0.90x.
Retail individual investors (RII) were leading the charge and their position crossed the over-subscription mark. Non-institutional investors (NIIs) also showed considerable interest.
Within the NII segment, the small NII (sNII) group (those bidding for <₹10 lakh) saw an oversubscription. However, the big NII (bNII) participants (bidding for >₹10 lakh) were undersubscribed.
The qualified institutional buyer (QIB) portion (excluding the anchor segment) recorded only negligible bids.
So, the retail investors seem to be leading the charge convincingly on Gaudium IVF IPO day 1. Now, the question for investors is: will the institutional appetite pick up pace before the bidding window closes?
Here are the day 1 subscription details of Gaudium IVF IPO.
Institutional Participation
The silence of the QIBs on Day 1 could be seen as the most scrutinised aspect of this listing. QIBs include entities like mutual funds, insurance companies, and foreign institutional investors (FIIs).
Generally, these are "sophisticated" players with the technical expertise to analyse an issue in detail. Also, QIBs are known to adopt the "wait-and-watch" approach till the IPO subscription final day.
They aim to assess the overall market sentiment and the level of subscription in other categories before committing huge capital amounts.
In addition, the company had already received anchor investment a day before the IPO subscription start date. Here is a table on the QIB and anchor investment contributions:
Anchor Investors | 1 | 62,65,860 | 62,65,860 | 49.5 |
QIB | 0 | 41,77,240 | 2,646 | 0.02 |
Non-Institutional Participation
The NII category consists of high-net-worth individuals (HNIs) and corporate bodies. The aggressive bidding of small NIIs could show their strong belief in the "value proposition" of the company. However, big NIIs seem to have been more measured in their response.
Such a fine-tuned approach could suggest that larger private players are carefully weighing the company’s expansion plans against current market valuations.
Here is a table showing the bidding from NIIs such as HNIs and corporate bodies, split into "sig" and "small" ticket sizes.
NIIs | 0.91 | 31,32,930 | 28,49,175 | 22.51 |
-Big NII | 0.54 | 20,88,620 | 11,29,464 | 8.92 |
-Small NII | 1.65 | 10,44,310 | 17,19,711 | 13.59 |
Retail Participation & Total Subscriptions
The retail individual investor (RII) segment consists of individuals applying for up to ₹2 lakh in an IPO. The RII segment seems to have shown a lot of faith in the fertility specialist. Generally, this "retail zeal" comes from a high degree of brand familiarity.
Healthcare is an "essential services" sector. Also, specialised segments like IVF are increasingly seen as high-growth and recession-resilient businesses. So, with a relatable business model and the service in high demand, retail participants can be the first to queue up for IPO subscriptions.
RII | 1.42 | 73,10,170 | 1,03,44,159 | 81.72 |
Total Subscription (Overall) | 0.90 | 1,46,20,340 | 1,31,95,980 | 104.25 |
Day 1 Category-Wise Division Of The Total
Here is a table summarising the comparative participation of all IPO categories for Gaudium IVF day 1.
20 February (Day 1) | 0 | 0.91 | 1.42 | 0.90 |
About The Issuing Company
Gaudium IVF and Women’s Health Limited operates in the assisted reproductive technology segment. It provides fertility services and treatment procedures, including:
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In Vitro Fertilisation (IVF)
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Intracytoplasmic Sperm Injection (ICSI)
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Intrauterine Insemination (IUI)
The company offers its services in more than 30 locations in India through seven hubs and 28 spokes.
Talking about the financials, the company’s accounts paint an impressive picture.
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It reported a revenue of ₹70.72 crore in the Financial Year 2024-25 (FY25).
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In FY24 and FY23, revenue stood at ₹47.89 crore and ₹44.23 crore, respectively.
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Net profit also spiked sharply from ₹10.32 crore in FY24 to ₹19.13 crore in FY25.
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The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin for FY25 was around 40%, and the ROE (Return on Equity) stood at 21.25%.
Objectives Of The IPO
Through the IPO, Gaudium IVF and Women’s Health plans to raise approximately ₹165 crore. The company has already raised ₹49.5 crore from anchor investors before the IPO even opened for public subscription.
With the money raised, the company plans to:
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Fund the establishment of new IVF centres
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Prepay certain outstanding loans
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Handle general corporate purposes
Key Details Of The IPO
The table below summarises the key details of the Gaudium IVF and Women’s Health IPO:
IPO Closing Date | 24 February 2026 |
Issue Size | ₹165 Crores |
Fresh Issue | ₹90 Crores |
Offer For Sale | ₹75 Crores |
Price Band | ₹75 to ₹79 Per Share |
Face Value | ₹5 Per Share |
Lot Size | 189 Shares |
Minimum Investment Amount (Retail) | ₹14,931 |
Basis of Allottment Date | 25 February 2026 |
Refund Initiation Date | 26 February 2026 |
Listing Date | 27 February 2026 |
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Investor Takeaway
With the Gaudium IVF IPO, the IVF industry in India is transitioning from a fragmented and unorganised market to a corporatised one.
The near full-subscription of the Gaudium IVF IPO on the first day seems to suggest the heightened investor interest in the innovative healthcare space.
All eyes are now on the QIBs. The close date for the IPO is 24 February 2026. It would be interesting to see how the IPO performs on day 2 and day 3 of the subscription timeline.
Track the Gaudium IVF and Women Health IPO
Sources:
The Economic Times
Business Standard
Cleartax
Livemint
Chittorgarh
News9 Live
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