Gujarat Kidney launches ₹250cr IPO: Should you subscribe?
What's the story
Gujarat Kidney and Super Speciality's ₹251 crore initial public offering (IPO) opened for subscription today. The IPO is priced at ₹108-114 per share, valuing the multi-specialty hospital chain at a pre-IPO market capitalization of about ₹898.8 crore. Investors can bid for the Gujarat Kidney IPO in lots of 128 shares each. The issue will close on Wednesday.
Funding details
₹100 crore secured from anchor investors
Prior to IPO, Gujarat Kidney and Super Speciality raised ₹100 crore from 10 entities, including Venus Investments, Khandelwal Finance Pvt Ltd, Nexus Global Opportunities Fund and Sunrise Investment Opportunities Fund. The company has allotted a little over 87.73 lakh equity shares at an anchor price of ₹114 per share. The funds from the overall IPO, including the anchor investment, will be utilized for various purposes such as acquiring Parekhs Hospital in Ahmedabad and setting up a new hospital in Vadodara.
Company profile
Operational and financial performance
Gujarat Kidney & Super Speciality Ltd. (GKASSL) is a mid-sized multi-specialty hospital chain in central Gujarat. It operates seven multi-specialty hospitals and four pharmacies, with a total capacity of 490 beds. The company offers secondary and tertiary healthcare services such as urology, orthopedics, cardiology, gynecology and critical care. As of June 2025, the network employed 89 doctors, over 330 nurses and more than 300 support staff.
Financial performance
Financial growth and market valuation
The company has witnessed a sharp increase in earnings over the past two years. Its total income jumped to ₹40.4 crore in FY25 from ₹5.48 crore in FY24, while profit after tax rose to ₹9.5 crore from ₹1.71 crore during the same period. However, at the upper end of the price band, the issue is valued at a pre-IPO price-to-earnings multiple of about 61.6 times, higher than most listed hospital peers like Yatharth Hospital and KMC Speciality Hospitals.