The IPO, with a face value of Rs 2, is a fresh issue of shares up to 2.2 crore Equity Shares.
FinTech BizNews Service
Mumbai, March 31, 2025: Gujarat Kidney and Super Speciality Limited is one of the regional healthcare companies located in the central region of state of Gujarat and operate a chain of mid-sized multispeciality hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise fund through Initial Public Offering (IPO). The IPO, with a face value of Rs 2, is a fresh issue of shares up to 2.2 crore Equity Shares.
The proceeds from the fresh issue to the extent of Rs 77 crore for Proposed acquisition of Parekhs Hospital at Ahmedabad, Rs 12.4 crore for Part-payment of purchase consideration for the already acquired “Ashwini Medical Centre”, Rs 30.2 crore for funding of capital expenditure requirements of the Company towards setting up of a new hospital in Vadodara, Rs 7.3 crore for Buying robotics equipment for the hospital Gujarat Kidney & Super Speciality hospital at Vadodara location, Rs 1.5 crore for Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company and Funding inorganic growth through unidentified acquisitions & general corporate purposes.
The Issue is being made through the book-building process, wherein not less than 75% of the Issue is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned to non-institutional Investors and retail individual bidders respectively. Gujarat Kidney and Super Speciality is led by Promoter and Manging Director, Dr. Pragnesh Yashwantsingh Bharpoda, an established name in the field of urology. The hospital categorizes its healthcare services as secondary services (that is surgical services) and Tertiary Services (that is super speciality surgical services). As of March 20, 2025, on a consolidated basis, it operates six multispeciality hospitals and three pharmacies operating within its Hospitals, Gujarat Kidney and Superspeciality Hospital (Vadodara), Gujarat Multispeciality Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), Ashwini Medical Centre (Anand) and Ashwini Medical Store (Anand) with a total bed capacity of 400 beds, approved bed capacity of 355 beds and operational bed capacity of 250 beds. Over the years, the hospital endeavours to provide quality and affordable healthcare services to all its patients.
On a consolidated basis it has 322 employees, 21 full-time consultants, and 32 visiting consultants as of March 20, 2025. It has strategically focus on the central region of Gujarat healthcare market, which provided a strong understanding of regional nuances, customer culture and the mind-set of medical professionals and where there is significant and growing need for quality and affordable healthcare services. Also, it caters to patients under Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana as well as public sector undertakings and private companies.
Gujarat Kidney and Super Speciality Limited’s Revenue from operations on Proforma Consolidated basis grew from Rs 34.01 crore in Fiscal 2023 to Rs 41.04 crore in Fiscal 2024. Profit after tax grew from Rs 2.80 crore in Fiscal 2023 to Rs 4.34 crore in Fiscal 2024. For the six months ended September 30, 2024, revenue from operations on a Proforma Consolidated basis stood at Rs 27.67 crore and Profit after tax stood at Rs 6.87 crore. The Indian hospital sector forms the core part of the healthcare industry, encompassing medical devices, clinical trials, medical tourism, telemedicine, health insurance, and medical equipment. Hospitals represent the largest segment within the total healthcare market. As per D&B Report, the Indian hospital industry has experienced significant growth, increasing from Rs. 2.4 lakh crore in FY 2016 to Rs. 5.8 lakh crore in FY 2023. It is further estimated to have risen by 12% in FY 2024, reaching approximately INR 6.5 lakh crore. Nirbhay Capital Services Private Limited is the sole book-running lead manager and MUFG Intime India Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
