Galaxy Medicare Limited is a trusted name in the manufacturing and exporting of medical devices, Plaster of Paris (POP) bandages, and surgical dressings. With over three decades of expertise, the company has positioned itself as a reliable partner for hospitals, healthcare institutions, and government organizations across India and abroad.
The company prides itself on using premium-grade raw materials sourced from authentic vendors, ensuring that every product meets the stringent demands of the medical community. Its offerings span a wide spectrum of wound care and orthopedic solutions, including surgical dressings, adhesive tapes, compression bandages, gauze products, and medical disposables—all designed to serve diverse medical needs.
The company’s business includes the following:
- Flagship Brands: Products are marketed under well-known in-house brands like POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, FIXCAN, and more.
- OEM Services: Works as an Original Equipment Manufacturer (OEM), handling component sourcing, design, manufacturing, and quality testing for other brand owners on a Principal-to-Principal basis.
- Institutional Sales: Supplies to government health departments through participation in GeM Portal tenders, strengthening institutional trust.
- Exports & Trading: Actively exports its range of products and also engages in trading of surgical dressings and devices.
Galaxy Medicare supplies to government health departments, hospitals, and private institutions. The company holds 27 registered trademarks in India and abroad.
Galaxy Medicare ensures global quality standards with certifications under ISO 9001:2015 for quality management and ISO 13485:2016 for medical devices, reinforcing its commitment to safe and reliable healthcare products.
As of March 2025, Galaxy Medicare employs around 190 professionals, contributing across production, quality, research, and management functions—driving the company’s vision forward.
Galaxy Medicare IPO – Details
| IPO Opening Date | 10 September 2025 |
| IPO Closing Date | 12 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 41,32,000 Shares Worth ₹22.31 Crore Fresh Issue: 33,08,000 Shares Worth ₹17.86 Crore Offer For Sale: 8,24,000 Shares Worth ₹4.45 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹51 – ₹54 per share |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Cameo Corporate Services Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Galaxy Medicare IPO – Date Schedule
| IPO Open Date | 10 September 2025 |
| IPO Close Date | 12 September 2025 |
| Basis of Allotment | 15 September 2025 |
| Initiation of Refund | 16 September 2025 |
| Credit of Shares to Demat | 16 September 2025 |
| IPO Listing Date | 17 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 12, 2025 |
Galaxy Medicare IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,16,000 |
| Retail (Max) | 2 | 4,000 | ₹2,16,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,24,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,72,000 |
| B-HNI (Min) | 10 | 20,000 | ₹10,80,000 |
Competitive Strengths
- Experienced Leadership and Skilled Management Team.
- Existing well-established reputation and customer relationships.
- Focus on consistently meeting quality standards.
- Well Established Manufacturing Facility Designed for a Wide Range of Products.
- In-house Quality Assurance (QA) / Quality Control (QC) and Research & Development for quality control.
- Global Presence.
Company Promoters
- Mr. Dillip Kumar Das
- Mr. Subhasish Das
- Mrs. Kiran Das
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2022 | ₹30.74 Cr | ₹29.29 Cr | – ₹ 0.21 Cr | ₹9.92 Cr |
| 31 March 2023 | ₹32.03 Cr | ₹30.98 Cr | ₹1.57 Cr | ₹9.15 Cr |
| 31 March 2024 | ₹36.94 Cr | ₹32.62 Cr | ₹3.71 Cr | ₹8.12 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.85% |
| ROCE | 23.80% |
| Debt/Equity | 0.52 |
| RoNW | 23.85% |
| PAT Margin | 10.26% |
| Price to Book Value | 3.84 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.12 | 2.25 |
| P/E (x) | 17.28 | 23.96 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding Capital Expenditure requirement towards the purchase of machinery for the existing manufacturing facility at Bhubaneshwar, Odisha. | ₹4.89 |
| Funding the working capital requirements. | ₹9.98 |
| To meet the offer related expenses. | – |
| General Corporate Purposes. | – |
✅Strengths
- Experienced management with long-standing industry reputation.
- ISO/CE-certified quality and modern manufacturing facility.
- Wide product range and international presence.
⚠️Risks
- Heavy reliance on top customers for revenue.
- Regulatory compliance under Medical Device Rules.
- High competition in medical devices and dressings.
- Issue proceeds not appraised by external agencies.
Galaxy Medicare IPO Promoter Holding
| Pre Issue Share Holding | 99.56% |
| Post Issue Share Holding | – |
Galaxy Medicare IPO Prospectus
- Galaxy Medicare IPO DRHP
- Galaxy Medicare IPO RHP
Company Contact Information
| Galaxy Medicare Ltd. 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/ |
Galaxy Medicare IPO Registrar
| Cameo Corporate Services Ltd. Phone: +91-44-28460390 Email: investor@cameoindia.com Website: https://ipo.cameoindia.com/ |
Galaxy Medicare IPO Lead Manager(s)
| 1. Affinity Global Capital Market Pvt.Ltd. |
Galaxy Medicare IPO FAQ
| What is Galaxy Medicare IPO? Galaxy Medicare IPO is an SME IPO. The issue is priced at ₹51 – ₹54 per equity share. The IPO is to be listed on NSE SME. |
| When Galaxy Medicare IPO will open? The IPO is to open on 10 September 2025 for QIB, NII, and Retail Investors. |
| What is Galaxy Medicare IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Galaxy Medicare IPO Size? Galaxy Medicare IPO size is ₹22.31 Crore. |
| What is Galaxy Medicare IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 4000 Shares with ₹2,16,000 amount, while the maximum bid is 4000 Shares with ₹2,16,000. |
| What is the Galaxy Medicare IPO Allotment Date? Galaxy Medicare IPO allotment date is 15 September 2025. |
| What is the Galaxy Medicare IPO Listing Date? Galaxy Medicare IPO listing date is 17 September 2025. The IPO is to be listed on the NSE SME. |
