Gaudium IVF IPO Opens Feb 20: Issue Size, Dates & Key Details

Gaudium IVF IPO to Open for Subscription: Complete Details

Gaudium IVF and Women Health Limited is officially set to enter the primary market, with its Initial Public Offering (IPO) scheduled to open for public subscription on Friday, February 20, 2026. Investors looking for complete IPO details, price band updates, GMP trends, and subscription data can check the Gaudium IVF and Women Health IPO Details. As a prominent player in the Indian reproductive healthcare sector, the company aims to raise capital to fund its nationwide expansion plans. This development marks a significant milestone, as Gaudium IVF is poised to become one of the first dedicated fertility services companies to list on the Indian stock exchanges.

For retail and institutional investors, this mainboard issue presents an opportunity to participate in the growing Assisted Reproductive Technology (ART) and In Vitro Fertilization (IVF) sector. The issue will remain open for three trading days, closing on Tuesday, February 24, 2026.

Issue Size and Offer Structure

The Gaudium IVF IPO is a book-built issue consisting of a total of 2.08 crore (2,08,86,200) equity shares, carrying a face value of Rs 5 per share. The offering is strategically structured into two distinct components:

• Fresh Issue: The company is issuing 1.13 crore (1,13,92,500) new equity shares. The capital raised from this portion will flow directly into the company's accounts to fund its stated objectives.
• Offer for Sale (OFS): The issue also includes an OFS of 94.93 lakh (94,93,700) equity shares by the promoter and founder, Dr. Manika Khanna. The proceeds from the OFS will go directly to the selling shareholder and will not be available to the company.

While the exact price band and minimum lot size are yet to be formally announced by the company, investors can expect these crucial details to be disclosed in the days leading up to the issue opening. Investors can also follow all updates and analysis on the complete Gaudium IVF IPO information page.

Reservation for Investors

The company has allocated the net offer across different investor categories in compliance with Securities and Exchange Board of India (SEBI) guidelines. The reservation structure is as follows:

• Qualified Institutional Buyers (QIB): Not more than 50 percent of the net issue.
• Retail Individual Investors (RII): Not less than 35 percent of the net issue.
• Non-Institutional Investors (NII): Not less than 15 percent of the net issue.

Tentative IPO Timeline

Investors tracking the Gaudium IVF IPO should make note of the following tentative schedule to ensure timely application and tracking of allotment status:

• IPO Open Date: Friday, February 20, 2026
• IPO Close Date: Tuesday, February 24, 2026
• Basis of Allotment: Wednesday, February 25, 2026
• Initiation of Refunds: Thursday, February 26, 2026
• Credit of Shares to Demat: Thursday, February 26, 2026
• Expected Listing Date: Friday, February 27, 2026

The equity shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Objectives of the Fresh Issue

According to the Red Herring Prospectus (RHP) filed with SEBI, Gaudium IVF has outlined a clear roadmap for utilizing the net proceeds generated from the fresh issue component. The funds are earmarked for the following primary objectives:

• Capital Expenditure for Expansion: The company intends to utilize Rs 50 crore to establish 19 new IVF centers across India, deepening its presence in underserved regions and expanding its geographical footprint.
• Debt Reduction: Approximately Rs 20 crore will be allocated toward the repayment or pre-payment of certain outstanding borrowings, which will help strengthen the company's balance sheet and reduce finance costs.
• General Corporate Purposes: The remaining funds will be deployed for general corporate purposes, including working capital requirements and routine business operations.

Company Background and Business Model

Founded in 2009 by Dr. Manika Khanna, Gaudium IVF and Women Health Limited operates as a comprehensive fertility care provider. The company specializes in a wide array of reproductive services, including In Vitro Fertilization (IVF), Intrauterine Insemination (IUI), Intracytoplasmic Sperm Injection (ICSI), and specialized male infertility treatments.

The organization operates on a highly scalable "Hub-and-Spoke" business model. The hubs serve as comprehensive fertility centers equipped with advanced embryology labs and surgical facilities, while the spokes act as consultation and primary care clinics that funnel more complex procedures to the central hubs. This structure allows the company to minimize capital expenditure while maximizing its patient catchment area.

As per the latest filings, Gaudium manages a network of over 30 facilities, comprising 7 central hubs and 28 spokes located across various states. Its flagship centers are strategically positioned in major metropolitan and tier-two cities, including Delhi, Mumbai, Bangalore, Patna, Ludhiana, and Srinagar.

The company also caters to a growing medical tourism segment, attracting international patients from countries such as the United States, the United Kingdom, Canada, and Kenya, driven by competitive pricing, language support, and high clinical success rates.

Financial Performance

Gaudium IVF has demonstrated a consistent trajectory of financial growth over the past few fiscal years, reflecting the increasing demand for specialized healthcare services in India.

• Fiscal Year 2024 (FY24): The company reported a total revenue of Rs 48.15 crore and a Profit After Tax (PAT) of Rs 10.32 crore.
• Fiscal Year 2025 (FY25): Operations scaled significantly, with total income jumping to Rs 70.96 crore and net profit surging to Rs 19.13 crore, marking a substantial year-on-year improvement.
• Half Year FY26 (Ended September 2025): The strong momentum continued into the current fiscal year. For the six months ended September 30, 2025, the company posted a total income of Rs 49.75 crore and a robust PAT of Rs 12.51 crore.

The company's Return on Net Worth (RoNW) stood at an impressive 41.71 percent for FY25, indicating efficient utilization of shareholder equity. Furthermore, the Debt-to-Equity ratio stood at a comfortable 0.38 as of September 2025, demonstrating manageable leverage and financial stability.

Industry Outlook and Market Potential

The Assisted Reproductive Technology sector in India is currently experiencing a period of rapid expansion. Changing demographic trends, delayed family planning, increasing awareness regarding fertility treatments, and rising disposable incomes are the primary catalysts driving this growth.

Industry reports suggest that the broader Indian IVF market was valued at approximately USD 1.32 billion in 2024 and is projected to expand at a Compound Annual Growth Rate (CAGR) of over 13 percent, potentially reaching USD 4.54 billion by 2034. Gaudium IVF, with its established brand name, patient-centric pricing approach, and aggressive expansion strategy, is well-positioned to capture a significant share of this expanding market.

Key Risks for Investors

While the financial metrics and industry outlook appear favorable, prospective investors must carefully evaluate the risk factors associated with the company's business operations:

• Regulatory Risks: The healthcare and medical services sector is heavily regulated. Any changes in government policies, medical guidelines, or compliance requirements regarding ART clinics could impact operational costs and procedures.
• Attrition of Skilled Professionals: The success of IVF clinics relies heavily on experienced embryologists and fertility specialists. High attrition rates among key medical personnel could disrupt operations and impact clinical success rates.
• Intense Competition: The Indian fertility market is highly fragmented and competitive, with numerous organized hospital chains and independent clinics vying for market share across urban and semi-urban regions.
• Contingent Liabilities: Investors should thoroughly review the contingent liabilities mentioned in the RHP, which could potentially impact the company's net worth and financial flexibility if they materialize in the future.

Final Details and Lead Managers

Sarthi Capital Advisors Private Limited has been appointed as the sole Book Running Lead Manager for the IPO. Bigshare Services Private Limited will serve as the official registrar to the issue. Investors are advised to wait for the official price band and lot size announcement and consult with their registered financial advisors before making any bidding decisions.

For live GMP, subscription data, allotment status, and full IPO analysis, visit the full Gaudium IVF and Women Health IPO page.

Disclaimer: The information provided in this news article is purely for educational and informational purposes and does not constitute financial or investment advice. The stock market is subject to inherent risks, and investors must read the Red Herring Prospectus (RHP) thoroughly before applying for any Initial Public Offering.