New Delhi, February 19 Gaudium IVF, a provider of fertility services, and Women Health Ltd announced on Thursday that they have raised ₹49.5 crore from anchor investors, ahead of the opening of their Initial Public Offering (IPO).
According to a circular uploaded on the BSE website, the anchor investors are: MERU Investment Fund PCC-CELL, Sanshi Fund I, Hornbill Orchid India Fund, and Carnelian India Multi Strategy Fund.
Gaudium IVF has allocated 62,65,860 shares to these investors at ₹79 apiece. This totals the transaction size to ₹49.5 crore, according to the circular.
The company's ₹165 crore IPO will open for subscription on February 20 and close on February 24. This will make Gaudium IVF the first company in the fertility care sector to access the public markets.
The fixed price band is ₹75-79 per share, valuing the company at ₹575 crore.
The proposed offering includes a fresh issue of 1.14 crore equity shares and an Offer For Sale (OFS) of nearly 95 lakh equity shares by promoter Manika Khanna.
The proceeds from the fresh issue will be used to establish 19 new IVF centers across India, as well as to pay off debt and for general corporate purposes.
Founded by Khanna, Gaudium IVF has established itself as a pioneer in assisted reproductive technologies in India. The company operates through a hub-and-spoke model, with seven hubs and 28 spokes across multiple states, enabling it to reach a wide patient base.
According to the draft papers, Gaudium IVF plans to expand into underserved regions by providing affordable IVF services, leveraging the brand recognition associated with its founder.
Financially, the company reported revenue from operations of ₹70.72 crore and a Profit After Tax (PAT) of ₹19.13 crore for the financial year ending March 31, 2025. In FY24, revenue was ₹47.89 crore, with a PAT of ₹10.31 crore.
In July, Indira IVF Hospital Ltd confidentially filed draft papers with Sebi to raise funds through an IPO.
According to the Infomerics Research report, the broader Indian IVF market is projected to grow at a CAGR of 13 per cent, expanding from USD 1.32 billion in 2024 to USD 4.54 billion by 2034, presenting significant growth potential for players like Gaudium IVF.
Gaudium IVF will make its debut on the stock exchanges on February 27.
