Updated on 29.01.2025|9:49 AM
KRM Ayurveda Limited has announced its Initial Public Offering (IPO) on the NSE SME platform. It is a Delhi-based provider of Ayurvedic healthcare services.
The subscription will open on January 21, 2026 and close on January 23, 2026, with a price band of ₹128 to ₹135 per share. Track all the upcoming and live IPOs at our ipo hub page which is updated regularly.
The company operates a network of 6 hospitals and 5 clinics across India, supplemented by a robust tele-consultancy service and proprietary herbal formulations. You can check
It specialises in Ayurvedic treatments for chronic ailments like kidney disorders, liver cirrhosis, and arthritis. The book-built issue aims to raise approximately ₹77.49 Crores, with proceeds earmarked for expansion, debt repayment, and working capital.
In this article, you will find KRM Ayurveda IPO GMP today, allotment date, price band, and a detailed review. You can check the subscription status of this and other IPOs at our dedicated subscription status page. And for the allotment details of IPOs, you can check the allotment status of IPOs page which is updated regularly.
Briefs of KRM Ayurveda IPO Details:
- Price Band: ₹128 – ₹135 per equity share
- IPO Open / Close Dates: January 21, 2026 – January 23, 2026
- Lot Size: 1,000 Shares (Note: Retail Minimum Application is 2 Lots / 2,000 Shares)
- Issue Size: 57,40,000 Equity Shares / ~₹77.49 Crores
- Fresh Issue / OFS: 100% Fresh Issue
- Registrar: Skyline Financial Services Pvt. Ltd.
- Listing Exchange: NSE SME
What Is The KRM Ayurveda IPO GMP Today?
You can check the GMP of this and other issues at our GMP today 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 | 135.00 | 172.10 | 27.48 |
What Are The Important KRM Ayurveda IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Monday, January 21, 2026
- IPO Close Date: Wednesday, January 23, 2026
- Basis of Allotment Date: Thursday, January 27, 2026
- Refund Initiation Date: Friday, January 23, 2026
- Credit of Shares: Friday, January 23, 2026
- Listing Date: Tuesday, January 29, 2026
What Are The Objectives of KRM Ayurveda IPO?
The company intends to utilize the net proceeds for the following strategic purposes:
- Capital Expenditure: Approximately ₹13.67 Crores will be invested in developing a new centralized corporate and telemedicine facility to streamline operations.
- Debt Repayment: A significant portion of ₹12.50 Crores is earmarked for repaying existing borrowings, aimed at reducing interest costs.
- Working Capital: The company plans to allocate ₹18.00 Crores to meet its incremental working capital requirements.
- General Corporate Purposes: The remaining funds will cover operational exigencies and strategic initiatives.
How is The Financial Performance of KRM Ayurveda?
The following table summarises the financial performance of the company based on restated financial statements.
(Figures in ₹ Crores)
Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Total Income | 76.95 | 67.57 | 89.38 |
Profit After Tax | 12.10 | 3.41 | 7.60 |
EBITDA | 19.11 | 7.34 | 11.03 |
Total Borrowing | 31.20 | 23.18 | 19.87 |
Assets | 66.79 | 43.91 | 39.48 |
Source: RHP
Financial Analysis & Observations:
Total Income:
The company reported Total Income of ₹76.95 Crores in FY25. While this marks a recovery from the dip in FY24 (₹67.57 Crores), it is still below the peak of ₹89.38 Crores achieved in FY23. This fluctuation is attributed to a strategic shift from pure product sales to a service-oriented hospital model.
Profit After Tax (PAT):
KRM Ayurveda witnessed a strong rebound in profitability, with PAT surging to ₹12.10 Crores in FY25 from ₹3.41 Crores in the previous year. This 255% jump reflects the successful transition to higher-margin clinical services and optimized marketing spend.
EBITDA:
Operational efficiency has improved markedly, with EBITDA rising to ₹19.11 Crores in FY25. The EBITDA margin expansion to nearly 25% highlights the company's ability to leverage its hospital infrastructure better than its previous retail-heavy model.
Total Borrowing:
As of March 31, 2025, total borrowings stood at ₹31.20 Crores. The planned repayment of ₹12.50 Crores from IPO proceeds is a prudent step to deleverage the balance sheet and improve the interest coverage ratio.
Assets:
The company's asset base increased to 66.79 Crores in FY 25, demonstrating a sustained trend of improvement.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹8.06, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 16.75x at the upper end of the price band (₹135).
P/E Ratio = ₹135 (Price) / ₹8.06.14(Earnings Per Share)
P/E Ratio ≈ 16.75x
Peer Comparison Table (FY 2024-25 Data)
Company | P/E Ratio | RoNW (%) | PAT (₹ Lakhs) |
KRM Ayurveda | 16.75 | 67.86 | 1,209.72 |
Jeena Sikho Lifecare | 22.02 | 33.00 | 8,400.00 |
Vaidya Sane Ayurved | 65.02 | 9.67 | 489.67 |
Analysis:
KRM Ayurveda is entering the market at a P/E multiple of approximately 16.75x. When compared to listed peers like Jeena Sikho Lifecare (22.02x) and Vaidya Sane Ayurved (65.02x), the issue appears to be priced attractively. Furthermore, KRM boasts a significantly superior Return on Net Worth (RoNW) of nearly 68%, indicating exceptional efficiency in generating profits from shareholder capital compared to its peers.
What is the Industry Outlook of KRM Ayurveda?
Growth Potential:The Indian AYUSH sector is projected to grow exponentially, with government targets aiming for a $24 billion market size. The National Ayush Mission (NAM) provides a supportive regulatory framework.Market Trends:There is a distinct consumer shift towards preventive healthcare and natural therapies post-pandemic. KRM's integrated model of hospitals, clinics, and telemedicine positions it well to capture both local and international demand.
What Are The Strengths and Risks of KRM Ayurveda IPO?
Strengths:
- High Profitability: The company has demonstrated the ability to generate high margins (PAT ~15.7%) and an impressive RoNW (~68%) post its strategic pivot.
- Integrated Model: Combining physical hospitals with telemedicine and proprietary products creates multiple revenue streams and customer touchpoints.
- Export Potential: Significant revenue from US exports indicates the global appeal of its Ayurvedic formulations.
Risks:
- Geographic Concentration: Over 56% of revenue comes from Delhi and Haryana. Any regional disruption or regulatory changes in these states could impact business.
- Negative Cash Flows: The company has reported negative operating cash flows in recent years due to working capital lock-up. This is a key financial health indicator to monitor.
- Legal Issues: Outstanding litigations regarding medical negligence and misleading ads pose reputational and financial risks.
Key Considerations for Investors
This section is for information purposes only and does not constitute financial advice.
Investors should note the Minimum Investment structure.
- Minimum Application: The lot size is 1,000 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (2,000 Shares), amounting to ₹2,70,000. Note: This investment amount exceeds the typical ₹2 Lakh retail limit, which implies this category may technically be treated as Small-HNI.
- Valuation: At ~16.7x P/E, the valuation leaves room for upside compared to industry peers.
- Risk Profile: The company is high-growth and high-margin but carries cash flow challenges and geographic concentration risks.
Standard Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
Key Takeaways
- IPO Price: ₹135 per share (Upper Band).
- Min Investment: ₹2,70,000 (2,000 Shares).
- Allotment Date: January 27, 2026
- Listing: NSE SME platform on January 29, 2026.
FAQs on KRM Ayurveda IPO
What is KRM Ayurveda IPO GMP today?
The GMP is a dynamic market sentiment indicator. You can check the gmp of this and other ipos at the gmp today page which is updated regularly.
What is KRM Ayurveda IPO price band?
The price band is fixed at ₹128 to ₹135 per equity share.
What is KRM Ayurveda IPO allotment date?
The allotment status is expected to be finalized on Thursday, January 22, 2026.
How to check KRM Ayurveda IPO allotment status?
Investors can check the status on the website of Skyline Financial Services Pvt. Ltd. (the Registrar) or via the NSE IPO allotment portal.
What is KRM Ayurveda IPO listing date?
The shares are tentatively scheduled to list on Tuesday, January 27, 2026.
Investment Perspective on KRM Ayurveda IPO
KRM Ayurveda offers a profitable entry into the booming wellness sector with strong return ratios. While the valuation is attractive, the high minimum investment ticket size and negative cash flow history are factors that investors must weigh carefully against the growth potential.
