Gujarat Kidney and Super Speciality Limited (“GKASSL”) is a Gujarat-based multi-speciality healthcare services provider, offering secondary and tertiary care medical services across multiple locations in the state of Gujarat, India.
The company focuses on delivering comprehensive hospital-based healthcare services through its network of multispeciality hospitals and supporting healthcare infrastructure.
The company operates seven multispeciality hospitals and four pharmacies with a total bed capacity of 490 beds, an approved capacity of 455 beds, and an operational capacity of 340 beds.
The company’s hospitals include Gujarat Kidney and Superspeciality Hospital (Vadodara), Gujarat Multispeciality Hospital (Godhra), Raj Palmland Hospital Private Limited (Bharuch), M/s. Surya Hospital and ICU (Borsad), Gujarat Surgical Hospital (Vadodara), and Ashwini Medical Centre (Anand). The company also operates Ashwini Medical Store (Anand).
GKASSL provides a wide range of secondary and tertiary healthcare services, catering to both routine and complex medical needs.
Gujarat Superspeciality Hospital provides medical care in areas such as internal medicine, general surgery, minimally invasive procedures, orthopaedics and trauma treatment, joint replacement surgery, obstetrics and gynaecology, respiratory failure, non-interventional cardiology, diabetology, and anaesthesiology.
As of June 30, 2025, the company had 89 Doctors, 332 nurses and 338 other staff.
Gujarat Kidney & Super Speciality IPO – Details
| IPO Opening Date | 22 December 2025 |
| IPO Closing Date | 24 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,20,00,000 Shares Worth ₹250.80 Crore Fresh Issue: 2,20,00,000 Shares Worth ₹250.80 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹108 – ₹114 per share |
| Market Lot | 128 Shares |
| Min Order | 128 Shares [ 1 lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Gujarat Kidney & Super Speciality IPO – Date Schedule
| IPO Open Date | 22 December 2025 |
| IPO Close Date | 24 December 2025 |
| Basis of Allotment | 26 December 2025 |
| Initiation of Refund | 29 December 2025 |
| Credit of Shares to Demat Account | 29 December 2025 |
| IPO Listing Date | 30 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2025 |
Gujarat Kidney & Super Speciality IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 128 | ₹14,592 |
| Retail (Max) | 13 | 1,664 | ₹1,89,696 |
| S-HNI (Min) | 14 | 1,792 | ₹2,04,288 |
| S-HNI (Max) | 68 | 8,704 | ₹9,92,256 |
| B-HNI (Min) | 69 | 8,832 | ₹10,06,848 |
Competitive Strength
- Pre-eminence in renal sciences, with established sub-superspecialities in urology.
- Asset light business model with focus in central region of Gujarat.
- Ability to attract, retain skilled and experienced quality medical professionals.
- Track record of operating and financial performance and growth.
Company Promoters
- Dr. Pragnesh Yashwantsinh Bharpoda
- Dr. Bhartiben Pragnesh Bharpoda
- Dr. Yashwantsingh Motisinh Bharpoda
- Anitaben Yashwantsinh Bharpoda
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹0.00 Cr | ₹0.01 Cr | –₹0.01 Cr | – |
| 31 March 2024 | ₹5.48 Cr | ₹3.21 Cr | ₹1.71 Cr | ₹1.94 Cr |
| 31 March 2025 | ₹40.40 Cr | ₹27.63 Cr | ₹9.50 Cr | ₹3.88 Cr |
| 30 June 2025 | ₹15.27 Cr | ₹7.78 Cr | ₹5.40 Cr | ₹4.03 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 36.61% |
| ROCE | 37.65% |
| Debt/Equity | 0.15 |
| RoNW | 36.61% |
| PAT Margin | 23.61% |
| EBITDA Margin | 41.12% |
| Price to Book Value | 22.62 |
| Pre IPO | Post IPO | |
| EPS (₹) | 1.85 | 2.74 |
| P/E (x) | 61.62 | 41.59 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Proposed acquisition of Parekhs Hospital at Ahmedabad. | ₹77.00 |
| Part-payment of purchase consideration for the already acquired “Ashwini Medical Centre”. | ₹12.40 |
| Funding of capital expenditure requirements of the Company towards setting up a new hospital in Vadodara. | ₹30.10 |
| Buying robotics equipment for our hospital, Gujarat Kidney & Super Speciality hospital in Vadodara. | ₹6.83 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company. | ₹1.20 |
| Funding inorganic growth through unidentified acquisitions and General Corporate Purposes. | |
| Acquisition of additional shareholding in the subsidiary, namely “Harmony Medicare Private Limited” at Bharuch. | ₹10.78 |
Gujarat Kidney & Super Speciality IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Yatharth Hospital & Trauma Care Services Limited | 55.84 |
| 2 | 10 | GPT Healthcare Limited | 24.51 |
| 3 | 1 | KMC Speciality Hospitals (India) Ltd | 52.60 |
✅Strengths
- Operates 7 multispeciality hospitals with presence across Gujarat.
- Provides secondary and tertiary care, reducing dependence on one specialty.
- Promoter-led doctor management ensures strong clinical and operational control.
- Integrated model with hospitals and in-house pharmacies improves patient retention.
- Backed by an experienced medical workforce of doctors, nurses, and staff.
⚠️Risks
- Geographically concentrated operations limited to Gujarat.
- High dependence on key doctors and promoters for operations.
- Lower operational bed capacity versus approved capacity may impact margins.
- Subject to strict healthcare regulations and approvals.
- First public issue with no prior listed track record.
Gujarat Kidney & Super Speciality IPO Promoter Holding
| Pre Issue Share Holding | 99.10% |
| Post Issue Share Holding | 71.45% |
Gujarat Kidney & Super Speciality IPO Prospectus
Company Contact Information
| Gujarat Kidney & Super Speciality Ltd. Plot No. 1, City Sarve No. 1537/A, Jetalpur Road, Gokak Mill Compound, Alkapuri, Vadodara, Gujarat, 390020 Phone: +91 265 298 4800 Email: info@gujaratsuperspecialityhospital.com Website: http://www.gujaratsuperspecialityhospital.com/ |
Gujarat Kidney & Super Speciality IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: gujaratkidney.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Gujarat Kidney & Super Speciality IPO Lead Manager(s)
| 1. Nirbhay Capital Services Pvt.Ltd. |
Gujarat Kidney & Super Speciality IPO FAQs
| What is Gujarat Kidney & Super Speciality IPO? Gujarat Kidney & Super Speciality IPO is a main-board IPO. The issue is priced at ₹108 to ₹114 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Gujarat Kidney & Super Speciality IPO open? The IPO is to open on 22 December 2025 for QIB, NII, and Retail Investors. |
| What is Gujarat Kidney & Super Speciality IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Gujarat Kidney & Super Speciality IPO Size? Gujarat Kidney & Super Speciality IPO size is ₹250.80 Crore. |
| What is the Gujarat Kidney & Super Speciality IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 128 Shares with ₹14,592, while the maximum bid is 1664 Shares with ₹1,89,696. |
| What is the Gujarat Kidney & Super Speciality IPO Allotment Date? Gujarat Kidney & Super Speciality IPO allotment date is 26 December 2025. |
| What is the Gujarat Kidney & Super Speciality IPO Listing Date? Gujarat Kidney & Super Speciality IPO listing date is 30 December 2025. The IPO is to be listed on BSE and NSE. |
