Galaxy Medicare's ₹22.31cr IPO to open on September 10
Galaxy Medicare, based in Odisha, is opening its IPO on September 10 to raise ₹22.31 crore.
They're offering 41.32 lakh shares, priced between ₹51 and ₹54 each.
The offer includes a fresh issue of 33.08 lakh shares and an offer-for-sale of 8.24 lakh shares from promoter Dillip Kumar Das.
They manufacture medical essentials like surgical dressings
They make medical essentials like plasters of Paris bandages, surgical dressings, and wound care products, which are commonly used in hospitals.
Key financial details and IPO timeline
IPO subscriptions close on September 12, allotment happens by September 15, and trading starts on NSE Emerge from September 17.
In FY25 (the year ending March 2025), their revenue went up by about 8% to ₹39.2 crore, but profits slipped nearly 9% to ₹3.37 crore.
Most of the money raised will go toward new machinery for their Bhubaneshwar plant and boosting working capital.