Updated on 07.01.2026 @ 11:22 PM
Gujarat Kidney and Super Speciality Limited (GKSL) is set to open its Initial Public Offering (IPO) on December 22, 2025, seeking to expand its healthcare network across Gujarat. You can track all the upcoming, live and closed IPOs at our IPO calendar hub page which is updated regularly.
Specialising in renal sciences (nephrology and urology), the Vadodara-based company currently operates seven multi-speciality hospitals.
The price band has been set at ₹108 – ₹114 per share.
This 100% fresh issue aims to raise capital for strategic acquisitions, specifically Parekhs Hospital in Ahmedabad, and to fund the construction of new facilities to strengthen its regional presence.
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In this article, you will find Gujarat Kidney IPO GMP today, allotment date, price band, and a detailed review. For subscription and allotment status you can check our IPO allotment status page and subscription status hub page which update regularly.
Gujarat Kidney and Super Speciality Limited IPO Details:
- Price Band: ₹108 – ₹114 per share
- IPO Open / Close Dates: December 22, 2025 – December 24, 2025
- Lot Size: 128 Shares
- Issue Size: 2,20,00,000 Equity Shares (Approx. ₹250.80 Cr at upper band)
- Fresh Issue / OFS: 100% Fresh Issue
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: BSE, NSE
Since MUFG Intime is the registrar of this IPO, here is the detailed guide on how to check allotment status, refund, common mistakes, and the share credit details.
What Is The Gujarat Kidney IPO GMP Today?
You can check the GMP of this and other issues at our GMP hub page.
Note: The Grey Market Premium (GMP) changes daily based on market demand. It is an unofficial indicator and is not regularised by SEBI, NSE, or BSE. Investors should not rely solely on GMP for investment decisions.
Listing Updates:
| Type | Issue Price | Open | Gain/loss % |
| Lisiting | 114 | 120 | 5.26 |
Source: NSE India
What Are The Important Gujarat Kidney IPO Dates & Allotment Schedule?
For investors planning their funds, here is the critical timeline for the issue:
- IPO Open Date: Monday, December 22, 2025
- IPO Close Date: Wednesday, December 24, 2025
- Basis of Allotment Date: Friday, December 26, 2025
- Refund Initiation Date: Monday, December 29, 2025
- Credit of Shares: Monday, December 29, 2025
- Listing Date: Tuesday, December 30, 2025
What Are The Objectives of Gujarat Kidney IPO?
The company is opting for a 100% fresh issue to fuel a strategy heavily reliant on inorganic growth and capacity expansion. The primary objectives include:
- Strategic Acquisitions: A substantial ₹77 Crores is allocated for the acquisition of Parekhs Hospital in Ahmedabad, and ₹10.78 Crores for increasing stake in Harmony Medicare.
- Infrastructure Development: Around ₹30 Crores will be used to fund capital expenditure for constructing a new hospital in Vadodara.
- Medical Technology: Investment of ₹6.82 Crores in advanced robotics equipment to enhance surgical capabilities.
- Debt Reduction: A minor portion (₹1.2 Crores) is set aside for debt repayment.
- ₹12.40 crore – Part-payment of purchase consideration for the already acquired Ashwini Medical Centre
How is The Financial Performance of Gujarat Kidney (GKSL)?
(Figures in ₹ Crores)
Particulars | Period Ended 30 Jun 2025 | Fiscal Ended 31 Mar 2025 | Fiscal Ended 31 Mar 2024 | Fiscal Ended 31 Mar 2023 |
Total Income | 15.27 | 40.40 | 5.48 | 0.00 |
Profit After Tax | 5.40 | 9.50 | 1.71 | (0.01) |
EBITDA | 8.63 | 16.55 | 1.95 | (0.01) |
Net Worth | 30.56 | 25.71 | 10.80 | 0.37 |
Total Borrowing | 4.03 | 3.88 | 1.94 | 0.00 |
Assets | 61.59 | 55.34 | 20.53 | 3.87 |
Source: RHP
Key Observations and Analysis:
Total Income:
The company witnessed exponential growth, with revenue surging from a mere ₹5.48 Crores in FY24 to ₹40.40 Crores in FY25, driven by the successful operationalisation and integration of acquired hospital units.
Profit After Tax (PAT):
Mirroring the revenue trajectory, PAT rose sharply to ₹9.50 Crores in FY25, marking a distinct turnaround from the negligible activity in FY23.
EBITDA:
The company recorded a robust EBITDA of ₹16.55 Crores in FY25, indicating strong operating margins as the hospital chain began stabilising its cash flows.
Net Worth:
Shareholder equity has strengthened significantly, jumping from ₹10.80 Crores in FY24 to ₹30.56 Crores by June 2025, reflecting both retained earnings and capital infusion to support expansion.
Total Borrowing:
Despite aggressive growth, the debt levels remain conservative at just ₹4.03 Crores as of June 2025, suggesting a healthy balance sheet with low leverage.
Assets:
The total asset base has expanded three-fold from ₹20.53 Crores in FY24 to ₹61.59 Crores in June 2025, underscoring the company's rapid accumulation of medical infrastructure and hospital facilities.
P/E Ratio and Peer Comparison
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹1.85, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 61.62x at the upper end of the price band (₹114).
P/E Ratio = ₹114 (Price) / ₹1.85 (Earnings Per Share)
P/E Ratio ≈ 61.62x
Peer Analysis Table (FY 2025 Data):
Company | Revenue (₹ Cr) | P/E Ratio (x) | RoNW (%) |
Gujarat Kidney (GKSL) | 40.40 | 61.62 | 36.95% |
Yatharth Hospital | 880.48 | 55.84 | 7.97% |
GPT Healthcare | 407.09 | 24.51 | 21.41% |
KMC Speciality | 231.60 | 52.60 | 13.00% |
Industry Average | - | 44.34 | - |
Analysis:
At the upper price band of ₹114, GKSL commands a P/E ratio of 61.62 times based on its restated EPS of ₹1.85. This valuation places it at a premium compared to the industry average of 44.34 times and its listed peers like GPT Healthcare (24.51x) and KMC Speciality (52.60x).
Industry Outlook
Growth Potential:
The Indian healthcare delivery market is expected to grow significantly, driven by an aging population, rising income levels, and increased insurance penetration.
Market Trends:
There is a distinct shift towards organized regional chains. While metro cities are saturated, Tier-2 cities in states like Gujarat are witnessing a surge in demand for tertiary care (specialized treatment). GKSL’s focus on renal sciences (Kidney transplants, Urology) places it in a high-demand, high-barrier-to-entry niche.
What Are The Strengths and Risks of Gujarat Kidney IPO?
Strengths:
- Niche Expertise: The company has established pre-eminence in renal sciences (Nephrology and Urology) in Central Gujarat, a specialty that commands high patient loyalty and higher average revenue per patient.
- Asset-Light Expansion: By acquiring existing operational hospitals rather than building everything from scratch, GKSL reduces the gestation period and achieves faster break-even points.
- Financial Efficiency: A high RoNW (38.38%) and low Debt-Equity ratio (0.22) indicate a disciplined management style that balances growth with financial prudence.
Risks:
- Geographic Concentration: A significant portion of revenue is derived from the Gujarat Kidney Hospital in Vadodara. Any regional disruption or intense local competition could impact the entire balance sheet.
- Execution Risk: The company is betting big on the acquisition of Parekhs Hospital and the construction of a new facility. Delays in integration or construction could lead to cost overruns.
- Regulatory Reliance: The healthcare sector is heavily regulated. Any lapse in renewing licenses or meeting strict health compliance norms can halt operations immediately.
Key Considerations for Investors
This section is informative and does not constitute a recommendation.
Based on restated FY25 financials, the issue is priced at a P/E ratio of 61.62 times (at ₹114 per share), representing a premium over the industry average of 44.34 times. While the company demonstrates high capital efficiency with a Return on Net Worth (RoNW) of 36.95%, its revenue base of ₹40.40 Crores remains significantly smaller than listed peers.
The company’s future growth is contingent upon the successful integration of proposed acquisitions, including Parekhs Hospital. Investors should weigh the premium valuation against the risks associated with regional concentration in Gujarat and the execution of its inorganic growth strategy.
Disclaimer: This article is based on the Red Herring Prospectus (RHP) and is for educational purposes only. It is not financial advice.
Key Takeaways
- IPO Price Band: ₹108 - ₹114.
- Lot Size: 128 Shares (Min Investment: ₹14,592).
- Allotment Date: December 26, 2025.
- Listing: BSE & NSE Platform on Tuesday, December 30, 2025
FAQs on Gujarat Kidney IPO
What is Gujarat Kidney IPO GMP today?
GMP is an unofficial grey market sentiment indicator. Please check our dedicated GMP section for the latest daily updates.
What is Gujarat Kidney IPO price band?
The price band has been fixed at ₹108 to ₹114 per equity share.
What is Gujarat Kidney IPO allotment date?
The allotment of shares is tentatively scheduled for Friday, December 26, 2025.
How to check Gujarat Kidney IPO allotment status?
Investors can check the status on the Registrar's website or via the BSE/NSE IPO allotment portals once declared. You can also check allotment status of this and other IPOs at our IPO allotment status hub page.
What is Gujarat Kidney IPO listing date?
The shares are expected to list on BSE and NSE on Tuesday, December 30, 2025.
Investment Perspective on Gujarat Kidney IPO
The company offers a specialized play in the renal healthcare space with robust margins and a sound balance sheet. However, the small scale of operations compared to national players and regional concentration in Gujarat are key risk factors to consider.
Standard Disclaimer:
The information provided in this article is based on the Red Herring Prospectus (RHP) and available public data. It is factual and neutral. IPO investments are subject to market risks. Read all scheme-related documents carefully. This is not a recommendation to buy or sell.
