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Gaudium IVF & Women Health IPO
Gaudium IVF and Women Health Ltd
₹14,175 /189 sharesMinimum investment
IPO details
Minimum investment
₹14,175
Price range
₹75 - ₹79
Lot size
189
Issue size
165 Cr
Face value
5
IPO document
Subscription rate
Qualified Institutional Buyers0.00x
Non-Institutional Investor0.91x
Retail Individual Investor1.37x
Total0.88x
As of 20 Feb'26, 06:31 PM
Schedule
20 Feb 2026
IPO open date
24 Feb 2026
IPO close date
25 Feb 2026
Allotment date
25 Feb 2026
Funds unblock or debit
27 Feb 2026
Tentative listing date
About
Founded in
2015
MD/CEO
Dr Manika Khanna
Parent organisation
Gaudium IVF and Women Health Ltd
Gaudium IVF and Women Health Ltd IPO
https://www.youtube.com/watch?v=f7N0ugtL2q8
Gaudium IVF & Women Health Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to follow a structured patient management process that includes dedicated counsellors to guide individuals through fertility treatment. It states that consultations, confidentiality, and treatment transparency are maintained throughout the IVF process, with counselling support integrated into clinical care.
Gaudium IVF claims to use next-generation laboratory technology such as INTEGRA Ti™ for ICSI procedures. It also states that it utilises Samsung ultrasound machines, equipment for egg quality evaluation, and clean operating rooms designed to maintain sterility standards.
The company claims to provide advanced USG-guided diagnostic and treatment services. These include hysterosalpingography (HSG), ultrasound-guided biopsies, transvaginal scans, follicular monitoring, transrectal ultrasounds, and ovarian cyst aspiration.
Gaudium IVF states that it operates an asset-light hub-and-spoke model supported by standardised operating procedures and internal controls. It claims this structure reduces dependency on individual practitioners and allows scalability across locations.
The company claims to have established central hubs in cities such as Delhi NCR, Mumbai, Bangalore, and Patna, supported by spoke centres in nearby regions. According to the company, advanced procedures are conducted at hubs, while spokes handle consultations, preliminary treatments, and follow-up care.
The company reported a consistent increase in revenue from operations. It increased from Rs 44.24 crore in FY23 to Rs 47.89 crore in FY24 and Rs 70.72 crore in FY25.
As of September 30, 2025, the company had contingent liabilities of Rs 44.99 crore. If any of these contingent liabilities materialise, the company’s financial condition could be adversely affected.
The company is highly dependent on doctors, embryologists, gynaecologists, nurses, and other healthcare professionals to operate its fertility centres. Employee attrition rate stood at 31 percent as of September 30, 2025; 63 percent in FY25; 51 percent in FY24, and 51 percent in FY23, indicating significant workforce movement across periods. Any inability to attract or retain qualified medical professionals in a competitive fertility services market may adversely affect the company’s business, operations, and financial condition.
The company reported negative cash flow from investing activities amounting to Rs 5.44 crore for the period ended September 30, 2025; Rs 15.17 crore in FY25; Rs 5.40 crore in FY24; and Rs 15.63 crore in FY23. This was primarily due to the purchase of property, plant, and equipment; intangible assets, including right-of-use assets; and investments in non-current investments. Additionally, negative cash flow from financing activities amounted to Rs 1.24 crore in FY24. This was mainly due to dividend payments. The company also reported a net decrease in cash and cash equivalents amounting to Rs 0.60 crore for the period ended September 30, 2025; Rs 4.64 crore in FY25; and Rs 3.20 crore in FY24. If the company is unable to generate sufficient positive cash flows to fund capital expenditure, debt servicing, and working capital requirements, it may adversely affect its business, financial condition, and growth plans.
Purchase of medical consumables & drugs accounted for Rs 12.26 crore (37.18 percent) of the company’s total expenses for the period ended September 30, 2025; Rs 20.21 crore (44.37 percent) in FY25; Rs 5.18 crore (16.42 percent) in FY24, and Rs 5.94 crore (22.91 percent) in FY23. Any failure to secure favourable pricing from suppliers or inability to pass on cost increases to patients may adversely affect the company’s business, financial condition, cash flows, and profitability.
The company and its promoters are involved in certain ongoing legal proceedings. The company’s business prospects could be hit in case of adverse judgments in any of these cases.
The company has limited historical experience in the pharmaceutical segment, which it entered through the acquisition of Gaudium International Private Limited in February 2023. Revenue from this segment accounted for Rs 14.28 crore (28.85 percent) of the company’s total revenue for the period ended September 30, 2025; Rs 11.72 crore (16.57 percent) in FY25; Rs 1.95 crore (4.08 percent) in FY24, and Rs 0.22 crore (0.50 percent) in FY23. Any inability to effectively manage regulatory requirements, pricing controls, compliance obligations, or successfully scale this newly acquired pharmaceutical business may adversely affect the company’s financial condition and results of operations.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 22.51 crore. Failure to service or repay these loans could harm the company’s operations and financial position.
Application details
For Gaudium IVF & Women Health IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹75 - ₹79 | Upto ₹2 Lakhs | 189 |
| High Networth Individual | ₹75 - ₹79 | ₹2 - ₹5 Lakhs | 189 |
About
Objective of Gaudium IVF IPO
| Objective | Approx. Amount (₹ Crore) | Description |
| Funding capital expenditure towards establishment of new IVF centers | ₹50 Cr |
To expand the company’s network by setting up new IVF & women health centres across India.
|
| Repayment / Pre-payment of outstanding loans | ₹20 Cr |
To repay or pre-pay certain existing debt facilities, strengthening the company’s financial position.
|
| General Corporate Purposes | Remaining from fresh issue |
To be used at management’s discretion for routine corporate requirements and business needs.
|
Gaudium IVF IPO Registrar
Bigshare Services Pvt.Ltd.
Phone No.: +91-22-6263 8200
Email: [email protected]
Gaudium IVF IPO Lead Manager
Sarthi Capital Advisors Pvt.Ltd.
Gaudium IVF Contact Details
Gaudium IVF & Women Health Ltd. Address
B1/51,
Janak Puri,
B-1,
New Delhi, New Delhi, 110058
011-4885 8585