Overview
- The issue is open for subscription from February 20 to 24 with a lot size of 189 shares and an implied market capitalization near Rs 575 crore at the top end.
- The offer comprises a Rs 90 crore fresh issue and an OFS of up to 94,93,700 shares worth about Rs 65 crore, with quotas set at 50% for QIBs, 15% for NIIs and 35% for retail.
- Net proceeds from the fresh issue are earmarked to establish 19 new IVF centres across India, repay or prepay certain borrowings and fund general corporate purposes.
- Gaudium operates a hub-and-spoke network across 30+ locations (seven hubs and 28 spokes) and reported FY25 revenue of about Rs 71 crore with PAT of Rs 19.13 crore.
- Anchor investors Meru Investment Fund, Sanshi Fund I, Hornbill Orchid India Fund and Carnelian India Multi Strategy Fund were allotted 62,65,860 shares at Rs 79, as grey market quotes of roughly Rs 8–9 suggested a potential 10–11% listing premium while analysts flagged contingent risks including a reported tax dispute of about Rs 31 crore.