IPO Details
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Schedule of Gaudium IVF and Women Health Ltd IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Gaudium IVF and Women Health Limited IPO
Gaudium IVF's initial public offering (IPO) includes a fresh issue of up to 1,83,54,400 equity shares with a face value of ₹5 each, with the total amount yet to be determined. The offer for sale also comprises up to 25,31,700 equity shares with a face value of ₹5 each, with its aggregate value undisclosed. Promoters include Dr. Manika Khanna, Dr. Peeyush Khanna, and Vishad Khanna.
Objectives of Gaudium IVF and Women Health Limited IPO
The funds raised from the IPO, after deducting related expenses, will be allocated for:
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Capital expenditure for establishing new IVF centers
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Working capital requirements for establishing new IVF centers
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Investment in the company’s subsidiary (EKK Global Pvt. Ltd.) for a. Launch of FMCG products b. Working capital requirements
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General corporate purposes
Gaudium IVF and Women Health Limited IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 1,83,54,400 equity shares |
Offer for Sale | Up to 25,31,700 equity shares |
EPS (in ₹) for FY 24 | 2.70 |
Gaudium IVF and Women Health Limited IPO Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors (NIIs) | Not less than 15% of the net offer |
Retail-individual Investors (RIIs) | Not less than 35% of the net offer |
Industry Outlook
Growing market demand
India's IVF market, valued at USD 779 million in CY23, is projected to reach USD 1,874 million by CY29, driven by a 15.7% CAGR. Rising infertility rates, delayed parenthood, and increased awareness are key growth factors.
High infertility prevalence
Approximately 25-30 million couples in India face infertility, creating a significant demand for assisted reproductive technologies. The market is expected to reach USD 900 million in CY24.
Strong success rates & infrastructure
With a 50-60% IVF success rate, India stands out for its advanced medical expertise, affordability, and robust healthcare infrastructure, attracting both domestic and international patients.
Economic resilience & growth
India's economy is on track to become a USD 5 trillion economy by CY27, with GDP growth projected at over 6.5% annually. This economic stability supports the expanding healthcare sector.
Policy & investment support Government initiatives, healthcare investments, and private sector participation are fostering innovation and accessibility in fertility treatments, ensuring sustained industry growth.
Company Information
Gaudium IVF, located in Delhi, India, is a leading provider of advanced fertility treatments. Established by Dr. Manika Khanna, a globally trained specialist in gynecological endoscopic surgery, the company has expanded across multiple states using a hub-and-spoke model.
With over 30 locations, including 7 hubs and 28 spokes, Gaudium IVF collaborates with infertility experts to raise awareness about Assisted Reproductive Technology (ART) and IVF treatments. The clinic offers a comprehensive range of fertility solutions, including In Vitro Fertilisation (IVF), Intracytoplasmic Sperm Injection (ICSI), Intrauterine Insemination (IUI), and ovulation induction.
By combining cutting-edge technology, specialised expertise, and patient-centric care, Gaudium IVF continues to transform lives, offering hope to couples facing infertility challenges.
Gaudium IVF and Women Health Ltd Strengths
Patient-centric care
Gaudium IVF prioritises personalised treatment, ensuring confidentiality, transparency, and emotional support throughout the IVF journey. Dedicated counselors guide patients with compassionate care, making their parenthood experience seamless and reassuring.
Expertise & technology
Led by Dr. Manika Khanna and Dr. Peeyush Khanna, Gaudium IVF boasts a team of highly experienced gynecologists and embryologists. Advanced technology, including INTEGRA Ti™ for ICSI, Samsung ultrasound machines, and sterile operating rooms, ensures world-class fertility treatments.
Expansive & efficient network
Operating with an asset-light business model, Gaudium IVF has established hubs in major cities like Delhi NCR, Mumbai, Bangalore, and Patna, complemented by spokes in nearby areas. This structure enhances accessibility while maintaining high standards of care.
Risks of Gaudium IVF and Women Health Limited IPO
Operational & reputational risks
As a healthcare provider, Gaudium IVF faces risks related to quality of care, legal compliance, and patient satisfaction. Any failure in these areas could harm its reputation and financial performance.
Dependence on key professionals & expansion challenges
The business relies on experienced doctors, nurses, and specialists. Difficulty in retaining talent or expanding operations in new cities could impact growth and service quality.
Financial & technological risks
Negative cash flows, pricing challenges, medical equipment failures, or delays in setting up new centers could hinder profitability and long-term sustainability.
All Financial Information about Gaudium IVF and Women Health
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Anchor Investing Bidding Date: TBA
IPO Registrar and Book Running Lead Manager
Registrar - Bigshare Services Private Limited
Book Running Lead Managers – Sarthi Capital Advisors Private Limited
Business Model
Gaudium IVF, established in 2015, operates on a hub-and-spoke model, ensuring widespread access to advanced fertility treatments across India. With 7 hubs and 28 spokes, the company provides comprehensive reproductive healthcare while expanding awareness of Assisted Reproductive Technology (ART) through strategic alliances.
The company caters to both domestic and international patients, attracting individuals from Canada, the UK, the USA, Kenya, South Africa, and Oman. Key hubs are located in Delhi (Janakpuri & Kailash Colony), Mumbai, Ludhiana, Srinagar, Patna, and Bangalore, serving as centers of excellence for IVF treatments.
Gaudium IVF’s growth aligns with India’s increasing IVF demand, driven by lifestyle changes, rising infertility rates, and medical tourism. The market, valued at $779 million in 2023, is projected to grow at a 15.7% CAGR, reaching $1,874 million by 2029.
The company has consistently increased its treatment cycles, performing 2,736 cycles in FY22, 3,512 in FY23, 3,711 in FY24, and 1,498 cycles in the first half of FY25. Its outpatient consultations have also grown, ensuring comprehensive, patient-centric fertility solutions.
Gaudium IVF offers specialised fertility treatments, including IVF, ICSI, IUI, ovulation induction, and fertility preservation. Additional services cover male infertility, high-risk pregnancy management, laparoscopic surgeries, and genetic testing (PGT). Its holistic care approach integrates nutritional counseling and psychological support to optimise success rates.
Gaudium IVF and Women Health Limited Growth Trajectory
Over the last few years, the company's revenue from operations has shown significant growth, increasing from ₹36.51 crore in FY22 to ₹53.48 crores in FY24. EBITDA margin has also improved remarkably, rising from 36.75% in FY22 to 48.28% in FY24.
Gaudium IVF and Women Health Limited Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 53.74 | 44.26 | 36.52 |
Profit Before Tax (in ₹ crores) | 22.91 | 18.31 | 11.99 |
Profit After Tax (in ₹ crores) | 16.60 | 13.52 | 8.82 |
EPS | 2.70 | 2.20 | 1.44 |
EBITDA (in ₹ crores) | 25.82 | 20.08 | 13.42 |
Gaudium IVF and Women Health Limited Balance Sheet
| Parameters | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 22.91 | 18.31 | 11.99 |
Net Cash generated from (used in) Operating Activities (in ₹ crores) | 0.81 | 23.85 | (1.00) |
Net Cash from (used in) Investing Activities (in ₹ crores) | (2.78) | (15.62) | (1.36) |
Net Cash generated from (used in) Financing Activities (in ₹ crores) | (1.23) | 5.25 | 2.79 |
Net Cash and Cash Equivalents (in ₹ crores) | (3.20) | 13.48 | 0.42 |
How to check allotment status of Gaudium IVF and Women Health Limited IPO?
Visit the Registrar's Website
Go to the official website of Bigshare Services Private Limited, the registrar for this IPO. Bigshare Services Private Limited website has a page for checking IPO allotment status. On this page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then click the 'Submit' button. Your allotment status will be displayed.
Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.
On the BSE IPO page, follow these steps:
- Select 'Equity' from the dropdown menu
- Choose ‘Gaudium IVF and Women Health Limited' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search'
Your ‘Gaudium IVF and Women Health Limited’ allotment status will be displayed.
- Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to ‘Gaudium IVF and Women Health Limited’ allotment status.
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:
- Application number
- PAN
Then click 'Submit'. Your ‘Gaudium IVF and Women Health Limited’ bid and allotment details will be displayed.
How to apply for Gaudium IVF and Women Health Limited IPO?
Here are the steps to apply for Gaudium IVF and Women Health Limited IPO:
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: 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.
Gaudium IVF and Women Health Ltd IPO FAQs
What is the Gaudium IVF and Women Health Limited IPO?
Gaudium IVF and Women Health Limited, headquartered in Delhi, is a leading provider of IVF and fertility treatments in India. Its IPO comprises a fresh issue and an offer for sale, with a total offer size of up to 2,08,86,100 equity shares.
Is Gaudium IVF and Women Health Limited IPO coming?
Yes, Gaudium IVF and Women Health Limited IPO is expected to come up with its IPO soon.
Who is the Chairperson of Gaudium IVF and Women Health Limited IPO?
Dr. Manika Khanna is the Chairperson and Managing Director of Gaudium IVF and Women Health Limited.
What is the lot size of shares of the Gaudium IVF and Women Health Limited IPO?
The company hasn’t given any information on the lot size yet.
From where can I read more about the Gaudium IVF and Women Health Limited IPO?
You may read more about the Gaudium IVF and Women Health Limited and its IPO from the company’s red draft herring prospectus (DRHP) here.
