Gujarat Kidney IPO Day 1: Subscription Begins Today, ₹251-Crore Issue Sees 6% GMP Premium
On Monday, December 22, 2025, the much-anticipated Gujarat Kidney & Super Speciality IPO opened for public subscription. This ₹251-crore fresh issue marks the company’s first step into the stock market. On Day 1, early signals from the grey market show about a 6 % premium (GMP) over the issue price, hinting at positive listing expectations.
This IPO comes at a time when healthcare and speciality services are drawing strong investor interest. Unlike many other IPOs that include an offer for sale, Gujarat Kidney’s issue is entirely fresh, meaning all funds raised go into business growth.
Investors are watching closely. The early subscription buzz reflects curiosity and caution. Many want to see if this local hospital chain’s growth story can become a success on the bourses. This article explores what Day 1 activity tells us, without the usual generic IPO hype.
Gujarat Kidney IPO Key Details
The Gujarat Kidney & Super Speciality Ltd IPO opened for public subscription on Monday, December 22, 2025 and will remain open until Wednesday, December 24, 2025. The issue is fully a fresh issue with no offer-for-sale component, meaning all funds raised will go directly to the company’s expansion plans.
The price band for the IPO is set at ₹108 to ₹114 per share, and investors must apply in lots of 128 shares. At the upper price band, retail investors need to invest at least ₹14,592 for one lot. The IPO is expected to list on the BSE and NSE around December 30, 2025.
Before the public subscription started, the company raised over ₹100 crore from anchor investors, showing some early institutional interest. The anchor book was subscribed at the upper price band of ₹114 per share, involving about ten investment entities.
Subscription Status on Day 1: Early Demand Signals
On Day 1 of public bidding, subscription was strong but not overwhelming. According to live updates, the issue was about 90 % subscribed by the afternoon, driven mainly by retail investor participation. Institutional categories, such as QIBs (Qualified Institutional Buyers), were less active on the opening day.
Retail demand stood out, registering higher interest compared with non-institutional investors. This pattern suggests that individual investors see value in the offer, even as larger funds remain cautious. The strong retail push highlights that many small investors are willing to back the company’s growth story despite mixed sentiment.
Gujarat Kidney IPO GMP Today: Interpreting the Grey Market Premium
On December 22, 2025, the grey market premium (GMP) for the Gujarat Kidney IPO hovered around ₹7 per share, which implies a potential ~6 % premium over the upper issue price of ₹114. This means unlisted trading estimates a tentative listing price of about ₹121 per share, signaling modest investor expectations for listing gains.
It’s important to note that GMP figures are unofficial and based on speculative trades outside formal markets. They should not be taken as a guarantee of actual listing gains, but they do provide a rough sense of sentiment in the run-up to listing.
About Gujarat Kidney: Business Model and Core Strengths
Gujarat Kidney & Super Speciality Ltd is a regional healthcare company based in central Gujarat. It runs a chain of seven mid-sized multi-speciality hospitals and four pharmacies across the state. The firm provides a range of secondary and tertiary healthcare services, including chronic kidney care, urology, cardiology, orthopaedics, gynaecology, and critical care. The total bed capacity across its facilities is 490 beds, with 340 operational beds.
The company’s integrated healthcare model allows it to offer many services under one roof. It also targets community needs with both speciality care and general hospital services. This blend is designed to attract a steady stream of patients and improve revenue stability.
Financial Performance: Revenue, Profitability, and Margins
Gujarat Kidney’s financial growth has been notable in recent years, though shaped by acquisitions and expansion moves. For the fiscal year ending March 31, 2025, the company reported total revenue of ₹40.4 crore, up sharply from ₹5.48 crore the prior year. Net profit also rose significantly, reaching ₹9.5 crore in FY25 compared with ₹1.71 crore in FY24. EBITDA margins expanded to about 41 % in FY25.
While these figures show strong growth, analysts have pointed out that such sharp improvements in a short period might not be sustainable without careful management and ongoing organic growth.
How Gujarat Kidney Plans to Use IPO Proceeds
The company has clear plans for the fresh capital raised through the IPO. A significant portion (around ₹77 crore) is earmarked for acquiring Parekhs Hospital in Ahmedabad, a move that would expand its service footprint in a major city. Another portion (about ₹12.4 crore) will go toward part-payment for the Ashwini Medical Centre acquisition.
Additional funds will support equity purchases in Harmony Medicare, setting up a new hospital in Vadodara, investment in robotics equipment, and debt repayment. Remaining funds are planned for other corporate and growth purposes.
These allocation plans show a focus on both geographic expansion and service enhancement, aimed at capturing higher patient volumes and increasing operational scale.
Industry Outlook: Healthcare Services in India
The Indian healthcare sector continues to grow as demand rises for quality medical care and speciality services. Organised hospital chains and speciality centres have gained attention because many patients prefer structured care environments over standalone clinics. Investors have shown interest in this trend, especially for companies that combine multiple disciplines under one service network.
Given India’s large population and increasing health awareness, companies with strong regional presence and expansion plans are viewed as potential long-term beneficiaries of industry growth.
Risks Investors Should Not Ignore
Despite positive indicators, there are risk factors to consider. Execution risk is prominent, as planned acquisitions and new hospital setups depend on obtaining timely approvals and effective integration. Delays or cost overruns in projects like the new facility in Vadodara could affect future performance.
There are also concerns about valuation. At the upper price band, the IPO’s price-to-earnings multiple is relatively high compared with larger, established hospital peers. This makes the stock comparatively expensive at launch, which could dampen listing gains if market conditions remain uncertain.
Gujarat Kidney IPO: Valuation Analysis and Peer Comparison
Looking at valuation metrics, the IPO presents a mixed picture. While growth rates are strong, the pricing sits at a premium relative to peers like larger listed hospital groups. This premium reflects both market optimism and the challenge of pricing a smaller regional firm in a competitive healthcare space.
Investors should balance the expansion story against these valuation considerations, especially if they aim for long-term gains rather than short-term listing profits.
Who Should Consider Gujarat Kidney IPO?
The IPO may appeal to retail investors who are bullish on India’s healthcare sector and believe in the company’s regional growth strategy. Those willing to take a long-term view on hospital chains and speciality services might find potential in this offer. However, conservative investors may want to watch post-listing performance and peer movements before committing capital.
Gujarat Kidney IPO Day 1 Verdict: Apply or Observe?
Day 1 subscription data and GMP signals suggest healthy retail interest but tempered institutional demand. Early grey market premiums hint at moderate listing expectations rather than a strong pop. Investors are watching execution of expansion plans and how the stock performs post-listing on December 30, 2025.
This IPO offers a glimpse into how a regional healthcare provider could scale up with public funds. Its success will depend on sustained growth, prudent spending, and strategic execution in the coming quarters.
Frequently Asked Questions (FAQs)
As of December 22, 2025, Gujarat Kidney IPO GMP stands near 6%, showing mild positive market interest and suggesting a possible premium listing, though actual prices may differ.
Gujarat Kidney IPO may offer moderate listing gains due to steady retail demand and a positive GMP, but returns are expected to be limited, not sharp.
Gujarat Kidney IPO is expected to list on December 30, 2025, subject to completion of allotment, regulatory approval, and prevailing market conditions.
Disclaimer
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
