Gaudium IVF IPO: Market tailwinds, strong positioning; should you apply?

Gaudium IVF IPO: Gaudium IVF and Women Health, a New Delhi-based fertility services provider, is set to launch its initial public offering (IPO) on Friday, February 20, 2026. The company aims to raise ₹165 crore from its maiden public issue. The mainline offering comprises a combination of fresh issue of 11.4 million equity shares amounting to ₹90 crore and an offer for sale (OFS) of 9.5 million equity shares amounting to ₹75 crore. Under the OFS, Manika Khanna will divest a part of her stake. 

 

The company has reserved not more than 50 per cent of the issue for Qualified Institutional Buyers (QIBs), not less than 15 per cent for Non-Institutional Investors (NIIs), and not less than 35 per cent for retail investors.

Gaudium IVF IPO GMP

On Thursday, February 19, the unlisted shares of Gaudium IVF were trading at ₹91, up ₹12 or 15.2 per cent compared to the issue price of ₹79 per share, according to sources tracking unofficial markets.

Gaudium IVF IPO: Here's what the brokerages suggest

Mastertrust

According to Mastertrust, the IVF industry is a high-growth healthcare segment, supported by rising infertility rates and increasing adoption of assisted reproductive technologies. The global IVF market, valued at $27.49 billion in 2024, is projected to reach $54.60 billion by 2034, growing at a CAGR of 7.1 per cent.

 

India is expected to outpace global growth, with the domestic IVF market projected to expand from $1.32 billion to $4.54 billion over the same period, registering a CAGR of 13.13 per cent. This could increase India’s share of the global IVF market from 4.8 per cent in 2024 to 8.3 per cent by 2034.

 

Analysts at Mastertrust noted that growth in India is being driven by rising infertility rates, delayed marriages, lifestyle changes, increasing maternal age, and greater awareness of assisted reproductive technologies, particularly in urban and semi-urban areas. Technological advancements and supportive regulations are further improving accessibility and success rates.

 

Against this backdrop, the brokerage believes Gaudium IVF is well-positioned to benefit from rising demand for fertility treatments, making the IPO a potential long-term investment opportunity.

Arihant Capital

According to analysts, Gaudium IVF appears well-positioned to benefit from the structurally growing fertility market in India, supported by its proprietary GAAT module, consistent clinical success rates of 58 per cent, and stable treatment volumes.

 

"The company’s focus on personalised, genome-based solutions enhances clinical differentiation and premium positioning, while diversified revenue streams across IVF, hospital services and pharmacy operations provide operational resilience. With strong clinical credibility, integrated service offerings and scalable infrastructure, the company is strategically placed to drive sustainable growth, improve average revenue per patient, and strengthen its competitive standing in the

organised fertility care segment," the brokerage said in its note.

 

At the upper band of ₹79, the issue is valued at a P/E ratio of 22.98x, based on annualised PAT of FY26 EPS of ₹3.4. The brokerage has assigned a 'Subscribe' rating for the issue.

Here are the key details of the Gaudium IVF IPO:

The three-day subscription window to bid for the Gaudium IVF IPO will close on Tuesday, February 24, 2026. The allotment of shares is expected to be finalised on Wednesday, February 25, 2026. The successful allottees will receive the company's shares in their respective demat accounts on Thursday, February 26, 2026. 

 

Shares of Gaudium IVF will make their debut on the exchanges, NSE and BSE, tentatively on Friday, February 27, 2026. 

 

The company has set the price band in the range of ₹75 to ₹79, with a lot size of 189 shares. A retail investor would require a minimum investment of ₹14,931 to bid for at least one lot and in multiples thereafter.

 

Bigshare Services is the registrar. Sarthi Capital Advisors is the sole book-running lead manager for the issue.

 

According to the red herring prospectus (RHP), the company plans to utilise ₹50 crore from the net fresh issue proceeds for funding capital expenditure towards the establishment of New IVF Centres, and ₹20 crore will be used for repayment or prepayment of certain borrowings. The remaining funds will be used for general corporate purposes.  

  Disclaimer: The views or investment tips expressed by the brokerages in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.