Gujarat Kidney & Super Speciality IPO: Full Analysis, GMP Today & Subscription Status
Gujarat kidney & super speciality ipo has become one of the most talked about public issues in december 2025. This healthcare company from vadodara gujarat is entering the stock market with a fresh issue worth 250.80 crores.
The company operates seven multispeciality hospitals across central gujarat and focuses on kidney care and advanced medical treatments. Many retail investors are asking is gujarat kidney & super speciality ipo good or bad for investment.
The issue opened on december 22 and will close on december 24 giving investors three days to apply. With strong retail interest and decent subscription numbers the ipo has caught attention of both new and experienced investors.
The pricing is set between 108 to 114 rupees per share with a minimum lot size of 128 shares. This means retail investors need to invest at least 14,592 rupees to participate in this offering.
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Gujarat kidney and super speciality limited started operations in 2019 and has quickly established itself in the healthcare sector. The company runs a chain of mid sized hospitals that provide both secondary and tertiary care services.
Their main strength lies in renal sciences urology orthopaedics cardiology gynaecology and critical care treatments. Out of the total 490 beds around 340 beds are currently operational giving room for expansion. The business model is asset light as most properties are leased which helps in faster expansion without heavy capital investment.
The company has shown remarkable financial performance in recent times. Revenue jumped from just a few crores to nearly 40 crores in fy25 marking growth of over 700 percent. Profit after tax also increased by 454 percent to reach 9.4 crores.
These numbers look impressive on paper but investors should understand that such high growth rates may not sustain in future years. The company plans to use ipo money mainly for acquiring parekhs hospital in ahmedabad setting up new facilities in vadodara buying robotics equipment and repaying some debt.
The subscription data shows strong demand especially from retail investors. On day one the issue was subscribed 1.47 times overall with retail portion getting 5 times subscription. By day two the overall subscription reached 2.67 times.
On the final day three the numbers climbed to 4.57 times overall subscription. The retail category saw overwhelming response with 17.06 times subscription while non institutional investors booked their quota 5.11 times.
Qualified institutional buyers were slower to participate with only 78 percent subscription in their reserved portion. This pattern suggests that individual investors are more excited about the healthcare story compared to big institutions.
The anchor investor round raised over 100 crores before the public issue opened which added credibility to the offering. Strong retail participation often indicates good listing day performance but investors should not rely only on subscription numbers for investment decisions.
Grey market premium is an unofficial indicator of listing day expectations. Gujarat kidney & super speciality gmp today ranges between 2 to 3 rupees over the upper price band of 114 rupees. This translates to a premium of only 2 to 3.5 percent which is quite modest.
When the ipo opened the gmp was higher at around 7 to 10 rupees but it has cooled down over the three days of bidding.
The declining gmp suggests that grey market traders are not very confident about strong listing gains. Based on current gmp the expected listing price would be around 116 to 118 rupees per share. This means investors might see only marginal profits on listing day.
Many factors affect gmp including overall market sentiment sector trends and issue pricing. Since gmp is not regulated by sebi investors should treat it as just one of many indicators and not the sole basis for investment decisions.
The company has delivered exceptional growth numbers in fy25. On restated basis revenue grew 743 percent while ebitda increased 748 percent and net profit jumped 454 percent compared to fy24.
Even on proforma basis which includes acquired entities the revenue grew from 85.79 crores in fy23 to 119.97 crores in fy25. Profit margins have also improved significantly with ebitda margin reaching 56.52 percent in q1 fy26 and net profit margin touching 35.41 percent.
Return on equity improved dramatically from negative 1.67 percent in fy23 to 36.61 percent in fy25. Return on capital employed also showed similar improvement moving from negative territory to 37.65 percent.
These metrics indicate better operational efficiency and capital utilization. However the main concern is valuation. At the upper price band the company is valued at approximately 61 times its fy25 earnings on restated basis. Even on proforma basis the valuation comes to around 39 times earnings.
Compared to listed peers like yatharth hospitals trading at 43 times or gpt healthcare at 27 times earnings the pricing appears stretched. The high valuation leaves little margin of safety for investors. Any delay in execution of expansion plans or underperformance of acquired hospitals could negatively impact the stock price after listing.
Deciding whether gujarat kidney & super speciality ipo is good or bad depends on your investment horizon and risk appetite. The company operates in a growing sector with strong fundamentals.
Healthcare demand in semi urban areas of gujarat is increasing due to rising income levels insurance penetration and government healthcare schemes. The company has shown impressive financial growth and has clear expansion plans through acquisitions and greenfield projects.
On the positive side the explosive revenue and profit growth strong retail demand sector tailwinds and anchor investor backing make it attractive for long term investors.
The company focus on specialized care particularly in renal sciences gives it a niche positioning. For negative aspects the high valuation leaves limited room for listing gains. The modest gmp of just 2 to 3 rupees indicates that quick profits may not materialize.
The company has limited experience in executing greenfield hospital projects which carries execution risk.
Most industry analysts have given neutral ratings to this ipo. The consensus view is that conservative investors who want quick listing gains should avoid this issue.
However long term investors who believe in the healthcare sector growth story and are willing to hold for 2 to 3 years can consider applying. The company geographic concentration in central gujarat also poses risk as any regional economic slowdown could impact business.
Bed occupancy rate has remained around 54 to 56 percent which needs improvement for better revenue generation.
Gujarat kidney & super speciality ipo offers a mixed bag for investors. The company has delivered strong financial performance and operates in a sector with long term growth potential.
The aggressive expansion strategy through acquisitions could help the company scale up quickly if executed well. However the premium valuation stretched metrics compared to peers and modest grey market premium make it less attractive for short term gains.
Retail investors looking for listing day profits may be disappointed as the gmp indicates only 2 to 3 percent upside. The strong retail subscription of 17 times shows enthusiasm but institutional participation was lukewarm which is a cautionary signal.
For those with a long term view of 3 to 5 years who believe in the india healthcare growth story this could be a reasonable investment. But one should be prepared for volatility in initial months after listing.
Risk averse investors may prefer to wait and watch the stock performance post listing before taking a position. The company will need to prove its ability to integrate acquired hospitals improve bed occupancy rates and sustain high margins for the valuation to be justified.
As with any ipo investment please consult your financial advisor and invest only after understanding all risks involved. Remember that past performance does not guarantee future returns and market conditions can change rapidly affecting stock prices.
Tags: gujarat kidney super speciality ipo, healthcare ipo 2025, vadodara hospital ipo, ipo subscription status, grey market premium, multispeciality hospital investment, gujarat healthcare stocks
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