IPO Details
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Schedule of Gujarat Kidney & Super Speciality IPO
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About Gujarat Kidney and Super Speciality Limited IPO
The Gujarat Kidney and Super Speciality IPO is a fresh issue of up to 2,20,00,000 equity shares, each with a face value of ₹2. There is no Offer for Sale (OFS) component in this IPO, meaning all shares are newly issued by the company to raise funds for various purposes.
Objectives of Gujarat Kidney and Super Speciality Limited IPO
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Acquisition of Parekhs Hospital Private Limited in Ahmedabad.
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Part payment towards the purchase consideration for the already acquired Ashwini Medical Centre.
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Funding capital expenditure for setting up a new hospital dedicated to women’s healthcare in Vadodara.
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Procurement of robotic equipment for Gujarat Kidney & Super Speciality Hospital in Vadodara.
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Full or partial repayment/prepayment of certain outstanding secured borrowings.
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Funding inorganic growth through unidentified acquisitions and for general corporate purposes.
Gujarat Kidney and Super Speciality Limited IPO Valuation
Gujarat Kidney and Super Speciality Limited IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not less than 75% of the net issue |
Non-institutional Investors (NIIs) | Not more than 15% of the net issue |
Retail-individual Investors (RIIs) | Not more than 10% of the net issue |
Industry Outlook
The Indian healthcare industry is broad, encompassing key segments such as healthcare delivery (hospitals), pharmaceuticals, diagnostics, medical equipment & supplies, health insurance, telemedicine, and medical tourism. Notably, the hospital segment dominates, accounting for about 80% of the industry’s value. The healthcare system in India is split into two main sectors: public and private.
The public healthcare system is primarily government-managed, focusing on providing affordable, accessible care through various levels, from rural Primary Health Centres (PHCs) to district and government hospitals. While pivotal, the public sector faces persistent challenges including underfunding, workforce shortages, and infrastructural gaps.
On the other hand, the private healthcare sector delivers advanced medical technology, specialised treatments, and premium amenities, mainly concentrated in urban areas. This sector is instrumental in bridging quality and accessibility gaps, but treatments are often costlier. Recent years have seen a rise in telemedicine, digital health records, and medical tourism, positioning India as a hub for affordable treatment options. With ongoing policy reforms, digitalisation, and increasing investments, the sector is poised for sustainable growth, with the government aiming to raise its health expenditure to 2.5% by 2025, from its current 1.9% of GDP.
Company Information
Gujarat Kidney and Super Speciality Hospital is a regional healthcare provider operating in the central region of Gujarat. The healthcare provider manages a chain of mid-sized multispeciality hospitals, delivering integrated secondary and tertiary healthcare services. As of March 20, 2025, the group operates six multispeciality hospitals and three in-house pharmacies across Godhra, Vadodara, Bharuch, Borsad, and Anand. Collectively, these facilities offer a total of 400 beds, with an approved capacity of 355 beds and an operational bed capacity of 250.
It also provides a comprehensive range of healthcare services, structuring its offerings into secondary (surgical) and tertiary (super speciality) categories. Specialities include general medicine, general and laparoscopic surgery, IVF, orthopaedics, endocrinology, pulmonology, and paediatrics. Super specialities cover fields such as urology, cardiology, nephrology, neurology, oncology, oncosurgery, gastroenterology, and plastic surgery.
Gujarat Kidney and Super Speciality Hospital focuses on under-penetrated markets in Gujarat, leveraging local knowledge of patient needs and healthcare dynamics. With in-house diagnostic capabilities and pharmacies, the company aims to bridge the gap in quality, affordable medical care, positioning itself to serve the diverse requirements of a growing patient base in the region.
Gujarat Kidney and Super Speciality Strengths
Pre-eminence in renal sciences and specialised care
The healthcare provider is renowned for its clinical capabilities in renal sciences, with established sub-super specialities in urology across six domains such as endourology, urologic oncology, and paediatric urology. Its expertise is underlined by high procedure volumes and the ability to perform complex laparoscopic and super speciality surgeries. This positions it to meet the growing Indian demand for advanced tertiary healthcare services.
Asset-light, scalable business model focused on Gujarat
Gujarat Kidney and Super Speciality Hospital operates on an asset-light model, acquiring operational control through leasing and strategic shareholding rather than investing in land and infrastructure. This approach enables rapid, cost-efficient scaling and higher return on assets. Its focused presence in the central Gujarat region allows it to leverage local knowledge, build patient trust, and replicate its hospital model across other under-served cities efficiently.
Strong talent attraction and retention capabilities
The healthcare provider maintains high standards of care by attracting and retaining skilled doctors, nurses, and paramedical staff through a supportive work environment, ongoing education, and shared ownership. Its multidisciplinary approach, focus on continuous medical education, and leadership stability result in a low attrition rate for doctors and nurses. This ensures consistent, quality healthcare delivery and strengthens the company’s reputation and operational effectiveness.
Risks of Gujarat Kidney and Super Speciality Limited IPO
- Uncertainty in the acquisition of Parekhs Hospital Private Limited
A significant portion of the IPO proceeds is earmarked for acquiring Parekhs Hospital Private Limited. If the company faces challenges or delays in completing this acquisition as per the agreed terms, it could negatively impact expansion plans, financial projections, and future business growth. Changes in the hospital’s business or financial health during negotiations may further complicate or jeopardise the transaction, affecting overall performance.
- Risk of delays in Ashwini Medical Centre payment
Part of the IPO funds are intended for payment towards the acquisition of Ashwini Medical Centre. Any delay or shortfall in IPO proceeds could force the company to seek alternative funding, potentially on unfavourable terms. Such delays may disrupt the seamless integration of the acquired business, negatively influencing operations, financial stability, and the company’s ability to achieve expected benefits and synergies from the acquisition.
- Execution risks in hospital expansion
The company aims to use IPO proceeds for expanding hospitals and building a new facility in Vadodara. These projects are exposed to risks like regulatory delays, approval issues, cost overruns, and difficulties in acquiring land or adequate skilled professionals. Any setbacks in implementing these plans may increase costs, delay timeframes, and ultimately affect future revenue streams and profitability, hampering long-term growth prospects.
All Financial Information about Gujarat Kidney & Super Speciality
Comparison with peers
| Name of the company | Revenue from Operations (₹ Crores) | EPS (Basic) (₹) | NAV (₹ per share) | P/E Ratio |
|---|---|---|---|---|
Gujarat Kidney & Super Speciality Limited (Restated Consolidated Financials) | 4.77 | 0.49 | 3.09 | - |
Gujarat Kidney & Super Speciality Limited (Proforma Consolidated Financials) | 41.03 | 1.24 | 4.13 | - |
Yatharth Hospital & Trauma Care Services Ltd | 670.54 | 14.46 | 101.84 | 28.64 |
GPT Healthcare Limited | 400.19 | 5.96 | 26.63 | 23.66 |
KMC Speciality Hospitals (India) Ltd | 177.17 | 1.86 | 8.80 | 34.19 |
Anchor Investor Bidding Date: TBA
IPO Registrar and Book Running Lead Manager
- Registrar: MUFG Intime India Private Limited
- Book Running Lead Managers: Nirbhay Capital Services Private Limited
Business Model
Gujarat Kidney and Super Speciality Hospital operates a chain of mid-sized multispeciality hospitals in central Gujarat, primarily on an integrated healthcare delivery model. Its business model focuses on providing comprehensive secondary (surgical) and tertiary (super speciality) care, supported by in-house diagnostic services and pharmacies. By strategically targeting under-penetrated regional markets, the company leverages local expertise, patient culture, and healthcare needs. This approach enables it to offer quality, affordable care in areas with limited specialist healthcare access, establishing a strong regional presence.
Gujarat Kidney and Super Speciality Limited Growth Trajectory
Gujarat Kidney and Super Speciality Hospital has demonstrated robust growth in both revenue from operations and EBITDA in recent financial years. Revenue from operations surged from ₹4.77 crores in FY24 to ₹18.67 crores in just the first six months of FY25, reflecting rapid business expansion. Similarly, EBITDA improved significantly from ₹1.95 crores in FY24 to ₹9.33 crores for the six months ended September 30, 2024. The EBITDA margin also rose sharply, from 40.86% in FY24 to an impressive 50.02% in the latest period, indicating enhanced operational efficiency and profitability.
Gujarat Kidney and Super Speciality Limited Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 5.47 | 0.0001 | 0.78 |
Profit Before Tax (in ₹ crores) | 2.26 | -0.0062 | 0.13 |
Profit After Tax (in ₹ crores) | 1.71 | -0.00062 | 0.10 |
EPS | 0.49 | -0.00 | 0.03 |
EBITDA (in ₹ crores) | 1.95 | -0.006 | -0.075 |
Gujarat Kidney and Super Speciality Limited Cash Flow Statement
| Parameters | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 2.26 | -0.0062 | 0.13 |
Net Cash from Operating Activities (in ₹ crores) | 1.21 | 0.0001 | 0.0022 |
Net Cash from Investing Activities (in ₹ crores) | 0.22 | - | - |
Net Cash from Financing Activities (in ₹ crores) | -0.46 | - | - |
Net Cash and Cash Equivalents (in ₹ crores) | 0.96 | 0.0001 | 0.0022 |
How to check allotment status of Gujarat Kidney and Super Speciality Limited IPO?
1. Visit the Registrar's Website
To check the IPO allotment status for Gujarat Kidney and Super Speciality Limited, visit the official website of MUFG Intime India Private Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the 'Submit' button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.
2. 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 'Gujarat Kidney and Super Speciality Limited' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search'
Your Gujarat Kidney and Super Speciality IPO allotment status will be displayed.
3. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Gujarat Kidney and Super Speciality IPO 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 Gujarat Kidney and Super Speciality IPO bid and allotment details will be displayed.
How to apply for Gujarat Kidney and Super Speciality 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.
Gujarat Kidney & Super Speciality IPO FAQs
Where can I read more about Gujarat Kidney & Super Speciality business?
You can read more about Gujarat Kidney & Super Speciality and its IPO from the company’s red herring prospectus (RHP) here.
What is the Gujarat Kidney and Super Speciality Ltd IPO?
The Gujarat Kidney and Super Speciality IPO is a fresh issue of 2,20,00,000 equity shares with a face value of ₹2 each. There is no Offer for Sale, so all shares are newly issued to raise funds for the company’s needs.
Is Gujarat Kidney and Super Speciality IPO coming?
Yes, Gujarat Kidney and Super Speciality Ltd is expected to come up with its IPO soon.
Who is the Chairman of Gujarat Kidney and Super Speciality?
Dr. Pragnesh Yashwantsinh Bharpoda is the chairman of Gujarat Kidney and Super Speciality.
What is the lot size of shares of the Gujarat Kidney and Super Speciality Ltd IPO?
The ompany hasn’t given any information on the lot size yet.
From where can I read more about the Gujarat Kidney and Super Speciality Ltd IPO?
You may read more about Gujarat Kidney and Super Speciality Ltd and its IPO from the company’s red draft herring prospectus (DRHP) here.
