Gujarat Kidney and Super Speciality files DRHP for IPO with SEBI

Gujarat Kidney and Super Speciality, one of the regional healthcare companies in Gujarat, has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to raise ₹128 crore through this Initial Public Offering (IPO). 

IPO Details

• As per the DRHP, the IPO will consist entirely of fresh sale of 2.2 crore equity shares with no offer for sale (OFS) component. 
• The company has reserved up to 75% of the issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors.
• The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE, as per DRHP.
• Nirbhay Capital Services Private Limited has been appointed as the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the issue.

Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds from the issue for the following purposes:

• ₹77 crores will be used for the proposed acquisition of Parekhs Hospital at Ahmedabad.
• ₹12.4 crores will be used for part-payment of purchase consideration for the already acquired Ashwini Medical Centre.
• ₹30.2 crores will be utilised for funding capital expenditure requirements towards setting up a new hospital in Vadodara.
• ₹7.3 crores will be utilised for buying robotics equipment for the hospital in Vadodara.
• ₹1.5 crore will be used for part repayment and/or prepayment of certain outstanding secured borrowings availed by the company.
• Apart from these, the remaining funds will be used for general corporate purposes and to fund inorganic growth through unidentified acquisitions.

About Gujarat Kidney and Super Speciality

Gujarat Kidney and Super Speciality is one of the regional healthcare companies located in the central region of the state of Gujarat. It operates a chain of mid-sized multispeciality hospitals, providing integrated healthcare services focusing on secondary and tertiary care.

As of March 20, 2025, on a consolidated basis, the company operate six multispeciality hospitals and three pharmacies operating within its hospitals. 

These include - Gujarat Kidney and Superspeciality Hospital (Vadodara), Gujarat Multispeciality Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), M/s. Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), Ashwini Medical Centre (Anand) and Ashwini Medical Store (Anand) with a total bed capacity of 400 beds, approved bed capacity of 355 beds and operational bed capacity of 250 beds. 

Company Financials

The table below shows the Consolidated Financial Statements for the six month period

ended September 30, 2024 and for the Financial Years ended March 31, 2024, March 31, 2023 and March 31, 2022: