Gujarat Kidney & Super Speciality IPO Opens Today; Retail Portion Subscribed 2.40x on Day 1, GMP at Rs. 7

The Gujarat Kidney & Super Speciality IPO opened for public subscription on December 22, 2025, garnering strong interest from retail investors on the first day of bidding. The issue was subscribed 0.58 times overall as of 12:14 PM, mainly due to demand in the retail category, which was booked 2.40 times, while the NII segment saw 0.71 times subscription. The QIB portion remained unsubscribed on the first day.

The IPO is a book-built issue of Rs. 250.80 crore, comprising a fresh issue of 2.20 crore equity shares, with no offer-for-sale component.

Gujarat Kidney IPO Price Band, Dates and Listing Details

The price band for the Gujarat Kidney IPO has been fixed at Rs. 108 to Rs. 114 per share. The issue will remain open for subscription until December 24.. The IPO allotment is expected to be finalised on December 26 while the shares are scheduled to list on the BSE and NSE on December 30, subject to market conditions.

Gujarat Kidney IPO GMP Signals Moderate Listing Gains

In the grey market, the Gujarat Kidney IPO GMP stood at Rs. 7 as of 11:56 AM on December 22. Based on the upper price band of Rs. 114, the IPO's estimated listing price is around Rs. 121, implying a potential upside of 6.14%.

About Gujarat Kidney & Super Speciality Limited

Gujarat Kidney & Super Speciality Limited (GKASSL) is a mid-sized multi-speciality hospital chain operating primarily in central Gujarat. The company currently operates seven multi-speciality hospitals along with four in-house pharmacies. It offers a mix of secondary care services and tertiary care super-speciality surgical procedures.

The company is also planning to acquire Parekhs Hospital in Ahmedabad, a 49-bed facility, as part of its expansion strategy.
Financial Performance

For FY25, Gujarat Kidney reported a sharp improvement in financial performance. Revenue rose to Rs. 40.2 crore, while EBITDA increased to Rs. 16.5 crore and profit after tax stood at Rs. 9.4 crore, reflecting strong year-on-year growth driven by operational scale-up.

Should Investors Subscribe?

According to a report by SBI Securities, Gujarat Kidney is fairly valued at the issue price. The brokerage has assigned a Neutral rating, citing strong growth momentum but limited near-term valuation comfort. Investors with a medium- to long-term horizon may track the company's execution and expansion plans post listing.