Galaxy Medicare IPO Details
RHP/DRHPIssue Date
10 Sep - 12 Sep'25
Investment/lot
₹1,08,000
Price Range
₹51 - ₹54
Lot Size
2000
IPO Size
₹22.31 Cr
Schedule of Galaxy Medicare
Start date
10/09/2025
End date
12/09/2025
Allotment of bids
Refund Initiation
Listing on exchange
Galaxy Medicare IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
HNI (Min) | 2 | 4000 | ₹2,16,000 |
About Galaxy Medicare Ltd IPO
The 100% book building issue of Galaxy Medicare Ltd comprises a fresh issue and an offer for sale of up to 35,52,000 and 8,88,000 equity shares, respectively. The toal offer size is ₹44,40,000 equity shares of ₹10 face value each. The IPO opens on TBA and closes on TBA. The credit of shares to the demat account will take place on TBA. The basis of allotment and the initiation of refunds will take place on TBA.
Objectives of Galaxy Medicare Ltd IPO
- Funding capital expenditure requirement towards purchase of machinery for its existing manufacturing facility at Bhubaneshwar, Odisha
- Funding the working capital requirements
- General corporate purposes
- Meet offer expenses
Galaxy Medicare Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 35,52,000 equity shares |
Offer for Sale | Up to 8,88,000 equity shares |
EPS in ₹ for FY 24 | 3.14 |
Galaxy Medicare Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors | Not less than 15% of the net offer |
Retail Individual Investors | Not less than 35% of the net offer |
Industry Outlook
The global plaster bandages market size was USD 8.8 billion in 2023 and is projected to reach USD 14.9 billion by 2032, expanding at a CAGR of 5.60% during 2024–2032. The market growth is attributed to the growing demand for effective healing solutions. The Indian medical tapes and bandages market was valued at ₹2,296 crore in 2021 which is expected to reach ₹3,362 crore in 2028 at a CAGR of 5.8%.
Increasing demand for effective wound care solutions is underscoring the importance of plaster bandages. These medical products, which provide support and protection to injured body parts, are a staple in healthcare settings worldwide.
Company Information
Galaxy Medicare Ltd is into the manufacturing, trading and exporting of medical devices, plasters of paris bandages (POP Bandage) and other surgical dressings in India. The company is certified under ISO 13485:2016 and Certificate of Conformity from EC International Certifications Standard (CE) and has a portfolio of 27 registered trademarks in India under various brand names.
Galaxy Medicare Ltd Strengths
Existing well-established reputation and customer relationships
Galaxy Medicare Ltd priortises building and maintaining long-term relationships with its customers, which include hospitals, diagnostic centers, dispensaries, and nursing homes. Its products are marketed under its registered brand name, which, along with other brands, has earned a strong reputation over the years for offering a diverse range of medical equipment.
This customer-focused approach has fostered a loyal customer base and has generated repeat business, underscoring its robust retention strategy.
Focus on consistently meeting quality standards
Quality is a cornerstone of the company’s success and is reflected in the certifications and accreditations earned by the company, including ISO 13485:2016 and CE certification under EC International Standards.
Its manufacturing plant operates in compliance with these guidelines, equipped with advanced machinery, well-organised sterilisation facilities, and stringent safety norms to ensure the highest production standards.
Global presence
Galaxy Medicare Ltd operates with a strategic dual focus, catering to both domestic and international markets to diversify its customer base and expand its global reach.
Through an extensive network of marketing agents and distributors, its products are actively promoted and exported to numerous countries. In FY 2023-24, exports contributed ₹8.4696 crores to its revenue, marking a significant share of its total sales
Risks of Galaxy Medicare Ltd IPO
-
Dependence on key customers: Galaxy Medicare Ltd is supplying to certain key customers, from whom it derives a significant portion of its revenues. The loss of any significant customer may have a material and adverse effect on its business and results of operations.
-
Raw material supply risk: The company is highly dependent on its suppliers for uninterrupted supply of raw materials. Any shortfall in the supply of its raw materials, or an increase in its raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
-
International risks: The company derives a substantial amount of its revenue from exports and its exports are exposed to potential financial, economic, political and other risks of international markets.
All Financial Information about Galaxy Medicare
Comparison with peers
| Company Name | PAT (in ₹ crores) | EPS (in ₹) | NAV ₹ per share | Return on Net Worth (in %) |
|---|---|---|---|---|
Galaxy Medicare Ltd | 1.7097 | 1.44 | 14.06 | 10.25 |
Adeshwar Meditex Ltd | 0.9041 | 1.39 | 24.82 | 2.52 |
KMS Medisurgi Ltd | 0.0789 | 1.38 | 23.41 | 1.02 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- Registrar: Cameo Corporate Services Ltd
- Book Running Lead Manager: Affinity Global Capital Market Private Limited
Business Model
Galaxy Medicare Ltd is into the manufacturing, trading and exporting of medical devices, plasters of paris bandages (POP Bandage) and other surgical dressings in India. Its business encompasses:
- Manufacturing and branding of their own products under its flagship brands
- OEMs ranging from sourcing of components, designing, manufacturing, quality testing as per the specifications provided by certain brand owners on Principal-to-Principal basis
- Institutional sale to various government department through participation in tenders on platforms like GEM Portal
- Exporting its manufactured product to international markets
- Trading of medical device and other surgical dressings
Company Growth Trajectory
The company’s total income grew from 4.20% in FY 23 to 15.32% in FY 24. Its operating EBITDA margin grew from 3.16% in FY 22 to 14.56% in FY 24.
Market Position
Over the years, Galaxy Medicare Ltd has established its presence in India and in international markets by offering a wide range of quality consumer products. With a portfolio of 27 registered trademarks in India under various brand names, the company caters extensively to both domestic and international markets.
Its products are widely accepted by the medical fraternity and are supplied all over India to Central and State Government Health Departments, Corporate Hospitals and private players.
Galaxy Medicare Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 21 |
|---|---|---|---|
Total Income (in ₹ crores) | 36.9374 | 32.029 | 30.7368 |
Profit Before Tax (in ₹crores) | 4.7260 | 2.0028 | 0.0739 |
Profit/(loss) After Tax for the Year (in ₹crores) | 3.7074 | 1.5714 | (0.2132) |
EPS in ₹ | 3.12 | 1.32 | (0.18) |
Galaxy Medicare Ltd Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit/(loss) After Tax for the Year (in ₹ crores) | 3.7074 | 1.5714 | (0.2132) |
Net Cash Flow From / (Used in ) Operating Activities (in ₹ crores) | 2.7084 | 3.6527 | (0.5607) |
Net Cash Flow From / (Used in) Investing Activities (in ₹ crores) | (0.6537) | (1.9137) | (0.5797) |
Net Cash Flow From / (Used in ) Financing Activities (in ₹ crores) | (2.0797) | (1.804) | 1.1942 |
Total Cash and Cash Equivalents (in ₹ crores) | 0.0440 | 0.0690 | 0.1340 |
How to Check Allotment Status of Galaxy Medicare Ltd?
1. Visit the Registrar’s Website
Visit the website of Cameo Corporate Services and click on any one of the links under IPO Status Links. Choose the Name of the Company from the dropdown. Enter your PAN number, Application number or DP Client ID. Enter Captcha and click on Submit to know the allotment status.
2. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Galaxy Medicare Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN Then click 'Submit' to know the allotment status.
How to Apply for Galaxy Medicare Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Galaxy Medicare IPO FAQs
What is the issue size of Galaxy Medicare IPO?
22.31 is the issue size of Galaxy Medicare IPO.
What is the minimum lot size required for Galaxy Medicare IPO?
The minimum lot size is 2000 shares and the investment required is ₹108000.
What is the price band of the Galaxy Medicare IPO?
The price band of Galaxy Medicare IPO is ₹51 to ₹54.
Where can I read more about Galaxy Medicare business?
You can read more about Galaxy Medicare and its IPO from the company’s red herring prospectus (RHP) here.
What is the Galaxy Medicare Ltd IPO?
The IPO of Galaxy Medicare Ltd comprises a fresh issue and an offer for sale of up to 35,52,000 and 8,88,000 equity shares, respectively.
When will the IPO of Galaxy Medicare Ltd go live?
The exact dates of the IPO are yet to be announced.
Who is the chairman and MD of Galaxy Medicare Ltd?
Dilip Kumar Das is the chairman and MD of Galaxy Medicare Ltd.
From where can I read more about the IPO of Galaxy Medicare Ltd?
You can read more about the IPO of Galaxy Medicare Ltd from the company draft red herring prospectus here.
