SME IPO: Galaxy Medicare shares to begin trading today
Galaxy Medicare, a Bhubaneswar-based maker of medical supplies, is making its stock market debut on the NSE SME platform today, September 17.
The company raised ₹22.31 crore in its IPO last week, with shares priced at ₹51-54 each.
The offer included both new shares and some being sold by existing owners.
Subscription details and gray market premium
The IPO saw moderate interest—subscribed 1.83 times overall—with retail investors showing more enthusiasm than institutions.
There's almost no gray market premium right now, so the listing price is expected to stay close to what people paid in the IPO.
What does the company do?
They make things like surgical dressings, plaster bandages, adhesive tapes, and other wound care products—basically stuff you find in hospitals and clinics.
With 27 trademarks under their belt, they supply government health departments and private hospitals across India and even export some products abroad.
Key financial metrics for FY25 so far
In FY25 so far, revenue grew 9% to ₹40.27 crore but profits dipped by 9% to ₹3.37 crore.
Most of the money raised will go toward upgrading their Bhubaneswar factory and supporting daily operations—so they're aiming for steady growth ahead.