Galaxy Medicare
September 10, 2025 – September 12, 2025
| Price | ₹51 - ₹54 |
| GMP Rumors * | ₹3 |
|---|---|
| Lot size | 2000 |
| Allotment | Sep 15, 2025 |
| Listing | Sep 17, 2025 |
Galaxy Medicare Subscription
Last updated on 10-Sep-2025 16:15:19
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 80000 | 80000 | 1 |
| HNIs | 1536000 | 1000000 | 0.65 |
| bHNI | 1024000 | 986000 | 0.96 |
| sHNI | 512000 | 14000 | 0.03 |
| Individual | 2308000 | 636000 | 0.28 |
| Total | 3924000 | 1716000 | 0.44 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 171 | 7 | 0.04 |
| HNIs (3-10L) | 85 | 2 | 0.02 |
| Individual | 577 | 159 | 0.28 |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIB | 0.43 | 0.43 | 1 |
| FII | - | 0 | - |
| FI | - | 0 | - |
| IC | - | 0 | - |
| MF | - | 0 | - |
| OTH | - | 0.43 | - |
| HNIs | 8.29 | 5.4 | 0.65 |
| bHNI | 5.53 | 5.32 | 0.96 |
| sHNI | 2.76 | 0.08 | 0.03 |
| Individual | 12.46 | 3.43 | 0.28 |
| Total | 21.19 | 9.27 | 0.44 |
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹0.1 | @8% ₹0.1 | @9% ₹0.1 | @10% ₹0.1 | @11% ₹0.1 | @12% ₹0.1 |
Galaxy Medicare Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 4000 | 216000 | 577 |
| sHNI | 3 | 6000 | 324000 | 85 |
| bHNI | 10 | 20000 | 1080000 | 171 |
Galaxy Medicare Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 80000 | 1.94% |
| HNI | 1536000 | 37.17% |
| INDIVIDUAL | 2308000 | 55.86% |
| Market Maker | 208000 | 5.03% |
| Total | 4132000 | 100% |
Galaxy Medicare About
IPO Details
| Total Issue | 41,32,000 shares (aggregating up to ₹22.31 Cr) |
| Fresh Issue | 33,08,000 shares (aggregating up to ₹17.86 Cr) |
| Offer for Sale | 8,24,000 shares of ₹10 (aggregating up to ₹4.45 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,18,63,983 shares |
| Share Holding Post Issue | 1,51,71,983 shares |
| Market Maker's Portion | 2,08,000 shares |
| Market Maker | Prabhat Financial Services |
Key Performance Indicator (KPI)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 19.88% | 26.98% | 14.08% |
| ROCE | 22.38% | 25.17% | 14.08% |
| RONW | 18.35% | 23.85% | 13.16% |
| EPS (basic) | 2.84 | 3.12 | 1.32 |
| P/E Pre IPO | 19.01 | ||
| P/E Post IPO | 24.31 |
Financial Details In (₹) Crores
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 31.49 | 32.53 | 32.31 |
| Total Income | 40.27 | 36.94 | 32.03 |
| Profit After Tax | 3.37 | 3.71 | 1.57 |
| EBITDA | 4.58 | 5.26 | 3.14 |
| NET Worth | 18.36 | 15.54 | 11.94 |
| Reserves and Surplus | 12.29 | 9.51 | 14.78 |
| Total Borrowing | 4.61 | 8.12 | 9.15 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Galaxy Medicare Limited | - | - | 10 |
| Adeshwar Meditex Limited | 12.59 | 18 | 10 |
| KMS Medisurgi Limited | 95.11 | 126.5 | 10 |
Source: Financial information of Galaxy Medicare Limited is based on Restated Financials for the year ended March 31, 2025. Peer group figures are from Standalone Audited Results for the year ended March 31, 2025 (sourced from Annual Reports/BSE/NSE). CMP taken as on August 5, 2025.
Peer Comparison (Financial Performance)| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Galaxy Medicare Limited | 14.06 | 10.25% | 2.84 |
| Adeshwar Meditex Limited | 27.69 | 5.17% | 1.43 |
| KMS Medisurgi Limited | 24.5 | 5.44% | 1.33 |
Company Overview
Incorporated: July 1992
Business: Manufacturing & exporting medical devices, POP bandages, surgical dressings, wound care solutions, adhesive & compression bandages, gauze products, and orthopedic items.
Brands: POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, FIXCAN, etc. (27 registered trademarks in India)
Operations:
Manufacturing & branding under flagship brands
OEM manufacturing (Principal-to-Principal)
Institutional sales via government tenders (GEM Portal)
Exports & trading of surgical dressings and devices
Certifications: ISO 9001:2015, ISO 13485:2016
Market Presence: Supplies across India to government health departments, corporate hospitals, private entities; exports internationally.
Strength
Established Track Record: 30+ years of operation with a well-established reputation and deep customer relationships.
Diversified Product Portfolio: Offers over 27 registered trademarks covering a wide spectrum of medical needs, reducing dependency on any single product.
Multiple Revenue Channels: Balanced revenue streams from branded sales, OEM work, government contracts, and exports.
Weakness
Customer Concentration Risk: Loss of any key customer may significantly impact revenues and profitability.
Raw Material Dependency Risk: Shortage or price rise in raw materials may disrupt supply and margins.
Legal and Compliance Risk: Ongoing legal proceedings could adversely affect reputation and financial condition.
Galaxy Medicare Lead Manager(s)
Galaxy Medicare Address
Plot No-2, Zone D,
Phase A, Mancheswar Industrial Estate
Khurda
Bhubaneshwar, Odisha, 751010
Phone: +91 9937000991
Email: CS@galaxymed.co.in
Website: http://www.galaxy.in/