A total of 2,20,00,000 shares will be issued in the Gujarat Kidney & Super Speciality IPO. It is a mainboard IPO amounting to ₹250.80 crore. The face value is ₹2 per share. The IPO opens for bidding on December 22, 2025. The bidding closes on December 24, 2025. The scheduled date of allotment is December 26, 2025. The shares will list on NSE and BSE on December 30, 2025.
The price range is set from ₹108 to ₹114, and the lot size is 128 shares. Retail investors can participate with a minimum bid of ₹14,592. Small NIIs (sNIIs) are required to apply for at least 14 lots, translating to a minimum investment of ₹2,04,288, while big NIIs (bNIIs) must invest a minimum of ₹10,06,848 by bidding for 69 lots.
Gujarat Kidney & Super Speciality IPO Details
The important details of this IPO are given below:
| Particulars | Details |
| Bidding Open Date | December 22, 2025 |
| Bidding Close Date | December 24, 2025 |
| Face value | ₹2 per share |
| Issue price | |
| Price Band | ₹108 to ₹114 |
| IPO Lot Size | 128 Shares |
| Offer for sale | |
| Fresh issue | 39,00,000 shares (₹38.22 crore) |
| Total Issue Size | 39,00,000 shares (₹38.22 crore) |
| Issue Type | Bookbuilding |
| Listing at | NSE, BSE |
| Minimum Investment | ₹14,592 |
Gujarat Kidney & Super Speciality IPO Timeline
The IPO will follow the given schedule:
| Particulars | Details |
| Bidding Starts | December 22, 2025 |
| Bidding Ends | December 24, 2025 |
| UPI mandate cut-off | 5 PM on December 24, 2025 |
| Scheduled Allotment | December 26, 2025 |
| Refund Initiation | December 29, 2025 |
| Demat Credit of shares to the demat | December 29, 2025 |
| Listing Expected | December 30, 2025 |
Gujarat Kidney & Super Speciality Key Performance Indicator
The company’s key performance indicators (KPIs) are outlined below:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | (1.67) | 15.86 | 36.61 |
| ROCE (%) | (1.70) | 9.79 | 37.65 |
| Debt Equity (times) | – | 0.18 | 0.15 |
| RoNW (%) | (1.67) | 15.86 | 36.61 |
| PAT Margin (%) | – | 35.90 | 23.61 |
| EBITDA margin (%) | – | 40.86 | 41.12 |
| Price Book Value | – | – | 22.62 |
Gujarat Kidney & Super Speciality Financials
The financials of Gujarat Kidney & Super Speciality are given below:
| Particulars (in ₹ lakh) | FY 2023 | FY 2024 | FY 2025 |
| Revenue | 0.01 | 547.82 | 4,039.70 |
| Total Asset | 386.72 | 2,052.56 | 5,534.47 |
| Profit | (0.62) | 171.40 | 949.94 |
Gujarat Kidney & Super Speciality IPO Subscription Status
The IPO shares are subscribed in the following manner:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
Gujarat Kidney & Super Speciality IPO Grey Market Premium Today
The Grey Market Premium (GMP) of Gujarat Kidney & Super Speciality IPO stands at ₹0, reflecting a flat investor response from the grey market. The premium remains steady, suggesting a neutral outlook leading up to the listing.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 16-12-2025 | ₹0 | ₹114 | 0% | Neutral |
| 15-12-2025 | – | – | – | – |
Note: GMP figures are derived from unofficial market trades and may vary with subscription trends, demand dynamics, and prevailing market conditions.
Gujarat Kidney & Super Speciality IPO Reservation
The IPO shares are reserved as per the investor category in the following manner:
| Investor Category | Reservation |
| QIB Shares | At least 75% of the Issue |
| NII (HNI) Shares | At most 15% of the Issue |
| Retail Shares | At most 10% of the Issue |
Lot Size of Gujarat Kidney & Super Speciality IPO
The lot sizes available for application are:
| Investor Type | Lots | Shares | Amount |
| Retail Investors (Minimum) | 1 | 128 | ₹14,592 |
| Retail Investors (Maximum) | 13 | 1,664 | ₹1,89,696 |
| S-HNI (Minimum) | 14 | 1,792 | ₹2,04,288 |
| S-HNI (Maximum) | 68 | 8,704 | ₹9,92,256 |
| HNI (Minimum) | 69 | 8,832 | ₹10,06,848 |
Details of Gujarat Kidney & Super Speciality IPO’s Anchor Investors
The details of anchor investors participating in the IPO are provided below:
| Particulars | Details |
| Bidding Opens | December 19, 2025 |
| Shares Offered | – |
| Anchor Portion Size | Up to 60% of QIB allocation |
| 30 day lock-in of 50% shares till | January 25, 2026 |
| 90 day lock-in of remaining shares till | March 26, 2026 |
Gujarat Kidney & Super Speciality IPO Prospectus
The documents given below provide additional information regarding this IPO:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About Gujarat Kidney & Super Speciality
Gujarat Kidney and Super Speciality Limited, headquartered in Vadodara, Gujarat, was established in 2019. Dr. Pragnesh Yashwantsinh Bharpoda, a practising urologist with over a decade of clinical experience, serves as the Chairman and Managing Director. The company operates a regional network of mid-sized multi-speciality and super-speciality hospitals across Central, North, and South Gujarat.
It also provides secondary and tertiary healthcare services, including urology, nephrology, neurology, cardiology, oncology, orthopaedics, and critical care, supported by in-house diagnostics and pharmacies. Operating in the hospital and healthcare services sector, it competes with peers such as Yatharth Hospital, GPT Healthcare, and KMC Speciality Hospitals. The company’s growth is driven by rising chronic diseases, regional healthcare demand, and capacity expansion.
| IPO Lead Manager | Nirbhay Capital Services Pvt.Ltd. |
| Issue Registrar | MUFG Intime India Pvt.Ltd. |
Objectives of the Gujarat Kidney & Super Speciality IPO
The proceeds from the issue will be allocated toward the given purposes:
| S. No. | Objectives | Amount (in ₹ lakh) |
| 1. | Acquisition of Parekhs Hospital | 7,700.00 |
| 2. | Ashwini Medical Centre – partial settlement of payments | 1,240.00 |
| 3. | Acquisition of additional stake in subsidiary | 1,078.00 |
| 4. | Setup of new hospital at Vadodara | 3,009.73 |
| 5. | Purchase of robotics equipment at Vadodara hospital | 682.50 |
| 6. | Loan repayment/prepayment | 120.00 |
| 7. | Inorganic growth & General Corporate Purposes | – |
Strength Of Gujarat Kidney & Super Speciality
The company’s strengths lie in specialised clinical expertise, an asset-light expansion model, and an experienced leadership team.
- Renal Care Leadership: Gujarat Kidney and Super Speciality Limited has a strong focus on renal sciences, with established sub-specialities in urology, nephrology, renal transplants, and laparoscopic procedures, enabling delivery of complex tertiary care services.
- Multi-Speciality Capabilities: Expanded offerings across cardiology, oncology, orthopaedics, neurology, and minimally invasive surgeries, supporting diversified clinical operations and revenue streams.
- Asset-Light Business Model: The company follows an asset-light approach by expanding through leased facilities and strategic acquisitions, allowing rapid scale-up without heavy investment in land and buildings.
- Regional Focus Advantage: The company operates primarily in central Gujarat, providing strong regional insight, better patient accessibility, and improved brand recognition in underserved markets.
- Experienced Medical Team: Low attrition and a large pool of skilled doctors and nurses ensure consistent care quality and patient retention.
Risk of Gujarat Kidney & Super Speciality
The following risks may impact operations, financial performance, and growth plans of the company:
- Lease Dependency: The company operates largely from leased hospitals. Any lease non-renewal, disputes, or relocation may disrupt operations and increase costs.
- Geographic Concentration: A significant revenue portion comes from central Gujarat, especially Vadodara. Regional disruptions could impact patient volumes and earnings.
- Talent Retention: The business depends on skilled doctors and nurses. Higher attrition or competition may affect care quality and patient inflow.
- Compliance Risk: Healthcare operations require multiple licenses and approvals. Regulatory changes, delayed renewals, or non-compliance could disrupt operations, increase costs, and adversely affect financial performance.
Gujarat Kidney & Super Speciality IPO Review
The Gujarat Kidney & Super Speciality IPO provides an opportunity to participate in India’s expanding healthcare and hospital services space, driven by the increasing need for specialised and advanced medical care. The company benefits from strong expertise in renal sciences, a broad service mix, an asset-light growth strategy, and an experienced promoter-led medical team. Investors should also consider risks such as regulatory requirements, reliance on leased facilities, geographic concentration, and execution risks related to expansion. This IPO is more suitable for long-term investors with a balanced risk profile looking for sectoral exposure, rather than short-term speculative returns.
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Gujarat Kidney & Super Speciality IPO FAQ‘s
Gujarat Kidney & Super Speciality IPO is a mainboard IPO issuing 2,20,00,000 shares amounting to ₹250.80 crore. The face value is ₹2 per share, and the IPO will list on BSE and NSE.
You can apply through your broker or online via UPI-enabled ASBA using your demat and trading account.
It may suit long-term investors seeking exposure to the growing healthcare sector, while considering regulatory and execution risks.
The current GMP of ₹0 indicates 0% returns on the Gujarat Kidney & Super Speciality IPO.
The Gujarat Kidney & Super Speciality IPO opens on December 22, 2025.
The lot size of the Gujarat Kidney & Super Speciality IPO is 128 shares.
The Gujarat Kidney & Super Speciality IPO allotment is on December 26, 2025.
The Gujarat Kidney & Super Speciality IPO will list on December 30, 2025.
