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Shares of Gujarat Kidney and Super Speciality ended their debut session on the bourses at an 8 per cent discount to their issue price. The stock was listed at ₹120, a 5.2 per cent premium to its issue price. However, due to profit-booking after listing, the stock ended its debut session at ₹105. Post listing, the stock commands a market capitalisation of ₹825 crore.
The ₹251 crore initial public offering was priced in a band of ₹108 to ₹114 a share. The IPO was entirely a fresh issue, and the company plans to use the proceeds for proposed acquisitions, part payment of the purchase consideration for an already acquired hospital, acquisition of additional shareholding in a subsidiary, capital expenditure requirements, and debt repayment.
The company operates a chain of mid-sized multispecialty hospitals with a total operational bed capacity of 340.
What does the Gujarat Kidney IPO listing signal for primary markets in 2025?
The listing comes amid a strong year for India’s primary markets. So far in 2025, 103 companies have gone public — the highest number in 25 years. It also marks the first time the country has seen two consecutive years of record fundraising in the primary market; historically, a boom year has typically been followed by a few quieter ones.
Why has IPO activity stayed strong despite volatility in secondary markets?
The surge in IPO activity has come despite a volatile backdrop for secondary markets. Corporate profit growth has softened, and uncertainty over a potential trade deal with the US has weighed on investor sentiment. Even so, the IPO market has remained resilient.
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