Galaxy Medicare IPO

About Galaxy Medicare IPO

The 100% book building issue of Galaxy Medicare Ltd comprises a fresh issue and an offer for sale of up to 33,08,000 and 8,24,000 equity shares, respectively. The price band is ₹51-₹54 per share and the lot size is 2000. The IPO opens on September 10, 2025 and closes on September 12, 2025.

The listing date is on or about September 17, 2025 and the allotment date is on September 15, 2025. The credit of shares to the Demat account will take place on or about September 16, 2025, while the initiation of refund will take place on or before September 16, 2025.

Galaxy Medicare Ltd offers a range of Plaster of Paris Bandages (POP Bandages), medical tapes and bandages, other surgical dressings, and external preparations for wound care and wound management. With a portfolio of 27 registered trademarks in India under various brand names, it 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.

Objectives of Galaxy Medicare 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
  

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 offers a range of Plaster of Paris Bandages (POP Bandages), medical tapes and bandages, other surgical dressings, and external preparations for wound care and wound management. With a portfolio of 27 registered trademarks in India under various brand names, it 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.

The company’s plaster of paris bandage (POP Bandage) and other surgical dressings offer advancements in technology and design, providing improved effectiveness and convenience compared to traditional bandages.

Strengths of Galaxy Medicare IPO

• Organisational stability along with management expertise
• Established reputation and customer relationships
• Focus on consistently meeting quality standards
• International presence
• Well-established manufacturing facility designed for wide range of products
• Experienced management team and a motivated and efficient workforce

Risks of Galaxy Medicare IPO

• Loss of significant customers could have an adverse effect on business
• Shortfall in supply of raw materials could adversely affect operations
• Failure to manage inventory and trade receivables could have an adverse effect on net sales, profitability, cash flow and liquidity
• Proliferation of look-alike products in the market poses a risk on reputation and brand name
• Revenue from exports which are exposed to potential financial, economic, political and other risks of international markets

Anchor Investor Bidding Date

The anchor investor bidding date is September 9, 2025.

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 its 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 revenue from operations of Galaxy Medicare Ltd grew from ₹31.2052 crores in FY 23 to ₹39.2016 crores in FY 25. Its operating EBITDA margin grew from 10.05% in FY 23 to 11.69% in FY 25. Organisational stability coupled with established reputation and customer relationships has helped the company grow over the years.

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.

How to Check Allotment Status of Galaxy Medicare IPO?

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.