In February 2026, investor interest in healthcare and specialised medical services IPOs remained strong. Rising awareness of fertility treatments, increasing medical tourism, and improving access to assisted reproductive technology have supported growth in the IVF segment. Healthcare businesses with scalable centre expansion models and strong brand positioning have continued to attract attention in the primary market.
Against this backdrop, Gaudium IVF and Women Health Limited is set to open its IPO on February 20, 2026. Here is a detailed insight into Gaudium IVF and Women Health Limited, its IPO, and the industry outlook.
About Gaudium IVF & Women Health Ltd.
Incorporated in March 2015, Gaudium IVF and Women Health Limited is engaged in providing In Vitro Fertilization treatments across India. The company has expanded into several states using a hub and spoke model.
The company operates over thirty locations, comprising seven hubs and twenty eight spokes. It has entered into strategic alliances with infertility experts to increase awareness of Assisted Reproductive Technology and IVF treatments.
Gaudium serves patients from multiple countries, including Canada, the United Kingdom, the United States, Kenya, South Africa, and Oman. The company has centres in key cities such as Delhi, Mumbai, Ludhiana, Srinagar, Patna, and Bangalore.
Services Offered
• In Vitro Fertilization
• Intracytoplasmic Sperm Injection
• Intrauterine Insemination
• Ovulation induction
• Comprehensive gynaecological care for PCOD and endometriosis
• High risk pregnancy management
• Advanced male infertility treatments including sperm retrieval techniques
Competitive Strengths
• Patient centric approach
• Experienced and expert medical team
• Use of next generation INTEGRA Ti labs for ICSI
• Highly technical USG guided services
• Established central hubs in prime urban locations
• Asset light business model
Gaudium IVF IPO Details
Gaudium IVF IPO is a book build issue of ₹165.00 crores. The issue is a combination of a fresh issue of 1.14 crore shares aggregating to ₹90.00 crores and an offer for sale of 0.95 crore shares aggregating to ₹75.00 crores.
The IPO price band is set at ₹75 to ₹79 per share. The issue is proposed to be listed on BSE and NSE.
The company intends to utilise the net proceeds towards establishing new IVF centres, repayment or pre payment of certain outstanding loans, and general corporate purposes.
Important IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | February 20, 2026 |
| IPO Close Date | February 24, 2026 |
| Allotment Date (Tentative) | February 25, 2026 |
| Initiation of Refunds | February 25, 2026 |
| Credit of Shares to Demat | February 26, 2026 |
| Listing Date (Tentative) | February 27, 2026 |
Key IPO Details
Here is the table on the Gaudium IVF IPO Review:
| Particulars | Details |
|---|---|
| Face Value | ₹5 per share |
| Issue Price Band | ₹75 to ₹79 per share |
| Lot Size | 189 shares |
| Total Issue Size | 2,08,86,200 shares aggregating up to ₹165.00 crore |
| Fresh Issue | 1,13,92,500 shares aggregating up to ₹90.00 crore |
| Offer for Sale | 94,93,700 shares aggregating up to ₹75.00 crore |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding Pre issue | 6,13,94,384 shares |
| Shareholding Post issue | 7,27,86,884 shares |
| Market Capitalisation Pre IPO | ₹575.02 crore |
Lot Size of Gaudium IVF IPO
Investors can bid for a minimum of 189 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 189 | ₹14,931 |
| Retail (Max) | 13 | 2,457 | ₹1,94,103 |
| S HNI (Min) | 14 | 2,646 | ₹2,09,034 |
| S HNI (Max) | 66 | 12,474 | ₹9,85,446 |
| B HNI (Min) | 67 | 12,663 | ₹10,00,377 |
Gaudium IVF & Women Health Ltd. Financials
Gaudium IVF IPO has a pre issue market capitalisation of ₹575.02 crore. As of September 30, 2025, the company reported a Return on Equity of 21.25 percent and ROCE of 21.03 percent. The debt to equity ratio stood at 0.38. The company reported a PAT margin of 25.14 percent and EBITDA margin of 38.29 percent.
Other financial details of the company include the following:
Key Company Financials
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 106.62 | 88.51 | 51.01 | 36.63 |
| Total Income | 49.75 | 70.96 | 48.15 | 44.26 |
| Profit After Tax | 12.51 | 19.13 | 10.32 | 13.53 |
| EBITDA | 18.95 | 28.63 | 19.27 | 20.07 |
| Net Worth | 58.85 | 46.30 | 26.99 | 22.73 |
| Reserves and Surplus | 28.16 | 15.60 | 26.00 | 21.74 |
| Total Borrowing | 22.51 | 18.93 | 15.73 | 9.78 |
Amount in ₹ crore.
Gaudium IVF & Women Health Ltd.: Industry Outlook
• Increasing awareness of assisted reproductive technology and delayed parenthood trends are supporting demand for IVF treatments
• Medical tourism in fertility services continues to attract international patients
• Expansion into tier two and tier three cities can widen access to specialised fertility services
• Regulatory changes, pricing pressures, and competition from established hospital chains may influence growth trajectory
Conclusion
Gaudium IVF and Women Health Limited presents an IPO opportunity in the specialised fertility and women health services segment. The company operates a hub and spoke model with centres across key cities and serves both domestic and international patients. It offers a comprehensive range of IVF and related reproductive treatments supported by specialised infrastructure and an experienced medical team.
However, investors should consider factors such as expansion execution risk, competition in urban markets, and valuation metrics before investing. Careful review of the offer documents and alignment with individual risk appetite remain essential before participating in the IPO.
