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Gujarat Kidney & Super Speciality IPO is a bookbuilt issue of Rs 250.80 crore. This issue is entirely a fresh issue of 2.20 crore shares with no offer for sale.
The IPO opens for subscription on December 22, 2025 and closes on December 24. The allotment is expected to be finalised on Friday, December 26, 2025. The price band for the IPO is set at ₹108 to ₹114 per share, and the minimum lot size for an application is 128 shares.
Company Summary
Incorporated in 2019, Gujarat Kidney and Super Speciality Limited (GKASSL) specialises in providing multispeciality healthcare services, including secondary and tertiary care, across multiple locations in Gujarat, India.
The company operates seven multispeciality hospitals and four pharmacies with a total bed capacity of 490 beds, an approved capacity of 455 beds, and an operational capacity of 340 beds.
The company’s hospitals include Gujarat Kidney and Superspeciality Hospital (Vadodara), Gujarat Multispeciality Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), M/s. Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), and Ashwini Medical Centre (Anand). The company also operates Ashwini Medical Store (Anand).
Gujarat Superspeciality Hospital offers comprehensive medical care in various specialities, including internal medicine, general surgery, minimally invasive procedures, orthopaedics and trauma treatment, joint replacement surgery, obstetrics and gynaecology, respiratory failure management, non-invasive cardiology, diabetology, and anaesthesiology.
As of June 30, 2025, the company had 89 Doctors, 332 nurses, and 338 other staff members.
Company Services
- Secondary Care Services: General and surgical treatments.
- Tertiary Care Services: Super speciality surgical procedures.
Company Strengths
- Preeminence in renal sciences, with established sub-superspecialities in urology
- Asset-light business model with a focus on the central region of Gujarat
- Ability to attract, retain skilled and experienced quality medical professionals
- Track record of operating and financial performance and growth
Company Financials
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 61.59 | 55.34 | 20.53 | 3.87 |
| Total Income | 15.27 | 40.4 | 5.48 | 0 |
| Profit After Tax | 5.4 | 9.5 | 1.71 | -0.01 |
| EBITDA | 8.63 | 16.55 | 1.95 | -0.01 |
| Net Worth | 30.56 | 25.71 | 10.8 | 0.37 |
| Reserves and Surplus | 19.42 | 14.57 | 10.6 | 0.17 |
| Total Borrowing | 4.03 | 3.88 | 1.94 | – |
| Amount in ₹ Crore | ||||
Objectives of IPO
- Proposed acquisition of Parekhs Hospital at Ahmedabad.
- Part-payment of purchase consideration for the already acquired “Ashwini Medical Centre”.
- Funding of capital expenditure requirements of the Company towards setting up a new hospital in Vadodara.
- Buying robotics equipment for our hospital, Gujarat Kidney & Super Speciality Hospital in Vadodara location.
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company
- Funding inorganic growth through unidentified acquisitions and General Corporate Purposes.
- Acquisition of additional shareholding in the subsidiary, namely “Harmony Medicare Private Limited” at Bharuch
IPO Details
| IPO Date | December 22, 2025 to December 24, 2025 |
| Listing Date | December 30, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹108 to ₹114 per share |
| Lot size | 128 shares |
| Total Issue size | 2,20,00,000 shares (aggregating upto ₹250.80 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 5,68,43,250 shares |
| Share Holding Post Issue | 7,88,43,250 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 128 | ₹14,592.00 |
| Retail (Max) | 13 | 1,664 | ₹1,89,696.00 |
| S-HNI (Min) | 14 | 1,792 | ₹2,04,288.00 |
| S-HNI (Max) | 68 | 8,704 | ₹9,92,256.00 |
| B-HNI (Min) | 69 | 8,832 | ₹10,06,848.00 |
Allotment Schedule
| Basis of Allotment | Fri, 26 Dec, 2025 |
| Initiation of Refunds | Mon, 29 Dec, 2025 |
| Credit of Shares to Demat | Mon, 29 Dec, 2025 |
| Tentative Listing Date | Tue, 30 Dec, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Issue |
| Retail Shares Offered | Not more than 10% of the Issue |
| NII Shares Offered | Not more than 15% of the Issue |
Source – SEBI, Chittorgarh
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