The ₹165 crore initial public offering of Gaudium IVF and Women Health Ltd was subscribed 3.98 times as of 10.57 am on the final day of bidding, driven largely by strong interest from non-institutional and retail investors.
The retail portion was subscribed 5.08 times, while the non-institutional investor (NII) segment saw 6.68 times subscription. In contrast, qualified institutional buyers (QIBs) had subscribed 0.03 times of their allotted quota at the time of reporting. The IPO closes later today.
Ahead of the public issue, the fertility services provider raised ₹49.5 crore from anchor investors. The anchor participants include Meru Investment Fund PCC-Cell, Sanshi Fund I, Hornbill Orchid India Fund and Carnelian India Multi Strategy Fund.
The IPO, which opened on February 20, is priced in a band of ₹75–79 per share, valuing the company at around ₹575 crore at the upper end. The offering comprises a fresh issue of 1.14 crore equity shares and an offer for sale of nearly 95 lakh shares by promoter Manika Khanna.
Proceeds from the fresh issue will be used to set up 19 new IVF centres across India, repay debt and meet general corporate expenses. With this issue, Gaudium IVF is set to become the first company from India’s fertility care segment to list on the public markets. The shares are scheduled to debut on February 27.