The Gujarat Kidney and Super Specialty's Rs 251‑crore IPO is in its last day of bidding, and strong interest points to a modest listing gain for investors.
It is a fresh issue of 1.32 crore equity shares priced between Rs 108 and Rs 114 each. At the top of the band, the company’s pre‑IPO market value is about Rs 899 crore.
The grey market premium is around Rs 2.5 (about 2.2 % above the upper price band), implying an expected listing price of Rs 116‑117 per share.
Gujarat Kidney runs seven multi‑specialty hospitals and four pharmacies in central Gujarat, with 490 beds (340 occupied). It provides services such as urology, orthopaedics, cardiology, gynaecology and critical care.
Financially, the company’s total income rose to Rs 40.4 crore in FY25 from Rs 5.48 crore in FY24. Profit after tax jumped to Rs 9.5 crore from Rs 1.71 crore. EBITDA margin improved to about 41 % and return on capital employed is 37.65 %.
At the top of the price band, the IPO is priced at roughly 61.6 times earnings, which is higher than most listed hospital peers such as Yatharth Hospital, GPT Healthcare and KMC Speciality Hospitals.
Analysts note the high valuation and the company’s relatively small scale as risks. They suggest conservative investors may wait for post‑listing price discovery before taking a position.
These observations are for informational purposes only. Do your own research and consider your risk tolerance before investing.
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