Gaudium IVF IPO fully booked on Day 2, retail investors lead; GMP at 10%
Gaudium IVF IPO has received bids for 25.96 million shares, against 14.62 million equity shares on offer, leading to a subscription of only 1.78 times
 "Gaudium IVF IPO fully booked on Day 2, retail investors lead; GMP at 10%")
Gaudium IVF IPO Day 2 subscription status: The initial public offering (IPO) of New Delhi-based fertility services provider Gaudium IVF and Women Health has received a decent response from investors so far.
The mainline offering has received bids for 25.96 million shares, against 14.62 million equity shares on offer, leading to a subscription of only 1.78 times at 11:40 AM on Monday, February 23, according to NSE data.
The retail investors subscribed about 2.55 times the quota reserved for them, and the non-institutional investors (NIIs) portion was booked around 2.33 times. However, the qualified institutional buyers (QIBs) subscribed to only 1 per cent.
Ahead of the issue, the company raised ₹49.5 crore from anchor investors. The company allocated 6.26 million equity shares to anchor investors at the upper price end of the price band of ₹75 to ₹79 per share, according to the exchange filing. Meru Investment Fund, Sanshi Fund, Hornbill Orchid India Fund and Carnelian India Multi-Strategy Fund participated in the anchor round.
Gaudium IVF IPO GMP
On the second day of subscription, the unlisted shares of Gaudium IVF were trading at ₹86.5 per share, commanding a grey market premium (GMP) of only ₹7.5 or 9.5 per cent compared to the upper end price of ₹79, according to the sources tracking unofficial markets.
Gaudium IVF IPO details
The ₹165 crore Gaudium IVF IPO comprises a fresh issue of 11.4 million equity shares and an offer for sale (OFS) of 9.5 million shares. The mainline issue will close for public subscription on Tuesday, February 24. The basis of allotment of shares is likely to be finalised on Wednesday, February 25. Gaudium IVF IPO will be listed on the bourses, BSE and NSE, tentatively on Friday, February 27.
A retail investor would need a minimum investment amount of ₹14,931 to bid for at least one lot or 189 shares at the upper price band. Retail investors can bid for a maximum of 13 lots or 2,457 shares, amounting to ₹1,94,103.
Bigshare Services is the registrar of the issue. Sarthi Capital Advisors is the book-running lead manager. According to the RHP, the company plans to utilise ₹50 crore from the net fresh issue proceeds for the establishment of new IVF centres, and ₹20 crore for certain repayment or prepayment of borrowings. The remaining funds will be used for general corporate purposes.