IPO Watch: Gujarat Kidney & Super Speciality files DRHP for IPO. Check details | Stock Market News
Source: Live Mint
IPO Watch: Gujarat Kidney & Super Speciality, a regional healthcare company, has filed its draft red herring prospectus (DRHP) with the stock market regulator Securities and Exchange Board of India (SEBI) for an initial public offer (IPO).
The proposed public offer, consists entirely of fresh sale of 2.2 crore equity shares with no offer for sale (OFS) component.
The company plans to use the funds raised via the IPO for funding acquisitions, equipments and working capital requirements.
According to the DRHP filed by the company, proceeds from the fresh issue to the extent of ₹77 crore will be used for proposed acquisition of Parekhs Hospital at Ahmedabad, ₹12.4 crore for part-payment of purchase consideration for the already acquired Ashwini Medical Centre, ₹30.2 crore for funding of capital expenditure requirements towards setting up of a new hospital in Vadodara, ₹7.3 crore for buying robotics equipment for the hospital in Vadodra, and ₹1.5 crore for part repayment and/or prepayment of certain outstanding secured borrowings availed by the company. Additionally, it said the remaining funds will be used to fund inorganic growth through unidentified acquisitions and general corporate purposes.
In the IPO, 75% of the issue is being reserved for the qualified institutional buyers, and not more than 15% and 10% for non-institutional investors and retail individual bidders, respectively.
About Gujarat Kidney & Super Speciality
Gujarat Kidney & Super Speciality is one of the regional healthcare companies located in Gujarat. It operates a chain of mid-sized multispeciality hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care.
As of March 20, 2025, on a consolidated basis, it operates six multispeciality hospitals, with a total bed capacity of 400 beds, approved bed capacity of 355 beds and operational bed capacity of 250 beds. Additionally, it has three pharmacies operating within its hospitals.
The company is led by promoter and managing director, Dr Pragnesh Yashwantsingh Bharpoda, who has more than a decade of experience in the medical industry and is an established name in the field of urology.
Gujarat Kidney and Super Speciality Limited’s revenue from operations on a proforma consolidated basis grew from ₹34.01 crore in Fiscal 2023 to ₹41.04 crore in Fiscal 2024. Profit after tax grew from ₹2.80 crore in Fiscal 2023 to ₹4.34 crore in Fiscal 2024.
Nirbhay Capital Services Private Limited is the sole book-running lead manager and MUFG Intime India Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India and BSE.
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