| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹75 to ₹79 | 189 | 20th Feb, 2026 –24th Feb, 2026 | ₹165 Cr |
Gaudium IVF and Women Health Ltd.
Gaudium IVF and Women’s Health Limited is a specialized fertility and women’s healthcare service provider operating in India, primarily focused on assisted reproductive technology (ART) and allied reproductive treatments. The company offers a comprehensive suite of fertility solutions, including In-Vitro Fertilisation (IVF), Intrauterine Insemination (IUI), Intracytoplasmic Sperm Injection (ICSI), Frozen Embryo Transfer (FET), ovulation induction programs, fertility preservation, donor programs, and andrology services. In addition to fertility treatments, it also provides gynecology, obstetrics, and related diagnostic services, enabling an integrated, end-to-end treatment model under one roof. The company operates through a network of fertility centers equipped with advanced embryology laboratories, modern medical infrastructure, and specialized clinical teams comprising fertility specialists, embryologists, gynecologists, and trained support staff. Its business model is largely center-driven, with revenues primarily generated from IVF cycles, related procedures, consultations, and diagnostic services. The company focuses on delivering personalized treatment protocols tailored to patient-specific requirements, supported by standardized clinical processes and technology-enabled monitoring systems to enhance treatment outcomes. Strategically, the company is positioned in a structurally growing fertility market in India, driven by rising infertility rates, increasing lifestyle-related reproductive challenges, delayed parenthood trends, growing awareness and social acceptance of ART procedures, and improving affordability of fertility treatments. With a focused brand positioning in the fertility segment, an emphasis on clinical excellence and patient-centric care, and expansion of its centre network, Gaudium IVF and Women’s Health Limited aims to strengthen its presence in existing markets while selectively expanding into new geographies to capture long-term growth opportunities in India’s reproductive healthcare sector.
Objective of the Gaudium IVF and Women Health Ltd.
The net proceeds from the fresh issue will be used towards the following purposes:
- Funding capital expenditure towards establishment of new IVF Centers of the company ;
- Repayment/pre-payment, in full or in part, of certain outstanding loans availed by thecompany; and
- General corporate purposes.
Rationale To Gaudium IVF and Women Health Ltd.
Investment Rationale
Patient-centric fertility care backed by clinical expertise and advanced reproductive technology
The company differentiates itself through a patient-centric operating model supported by experienced clinical leadership and technology-enabled infrastructure. The company also adopts a personalized treatment approach, offering tailored fertility protocols complemented by structured counselling services that ensure confidentiality, transparency, and continuous patient engagement throughout the IVF cycle. Founded by Dr Manika Khanna and Dr Peeyush Khanna, each with over two decades of experience in reproductive medicine, the company benefits from strong domain expertise and established brand credibility, further reinforced by the formation of the Gaudium IVF Foundation to expand access to fertility care among underserved communities. The company’s operations are equipped with advanced embryology labs featuring INTEGRA Ti™ systems for ICSI, modern egg quality assessment tools, Samsung ultrasound platforms for precise monitoring, and sterile operating environments to maintain high clinical standards. Its capabilities in complex USG-guided procedures, including HSG, ultrasound-guided biopsies, transvaginal and transrectal scans, follicular monitoring, and ovarian cyst aspiration, enhance its ability to manage high-acuity ART cases, strengthening its competitive positioning in the organized fertility services market.
Asset-light hub-and-spoke model driving scalable growth and standardized clinical excellence
The company operates an asset-light, scalable business model anchored in standardized operating procedures (SOPs) and robust internal controls, reducing dependence on individual practitioners and enabling consistent clinical outcomes across its network. The company has adopted a hub-and-spoke structure, with established centres of excellence in key metropolitan markets such as Mumbai, Bengaluru, Delhi NCR, and Patna, where advanced fertility procedures, including IVF, IUI, embryo freezing, and embryo transfer, are performed. These hubs serve a wider catchment area and handle complex, high-acuity cases, while smaller satellite centres (spokes) in surrounding regions focus on consultations, preliminary diagnostics, cycle monitoring, and follow-up services. This integrated model enhances geographic penetration, improves patient accessibility, optimizes capital allocation, and strengthens referral flows to hub centers for advanced treatments, thereby supporting operational scalability while maintaining standardized quality of care across the network. Overall, this model positions the company to drive sustainable growth while maintaining operational discipline and consistent treatment outcomes across its network.
Valuation of Gaudium IVF and Women Health Ltd.
Gaudium IVF and Women’s Health operates as a specialized fertility and women’s healthcare provider focused on assisted reproductive technology (ART) services, supported by a patient-centric care model, experienced clinical leadership, advanced embryology infrastructure, and a scalable asset-light hub-and-spoke network. The company’s strategy centres on expanding its geographic footprint through a calibrated mix of hub strengthening and spoke additions, driving operating leverage through standardized SOPs, optimizing centre-level utilization, and enhancing brand visibility in high-growth urban and semi-urban markets. Industry dynamics remain favourable, underpinned by rising infertility incidence, lifestyle-related reproductive challenges, delayed parenthood trends, improving awareness and social acceptance of IVF procedures, and increasing penetration of organized fertility chains in India’s fragmented ART landscape. Against this backdrop, Gaudium’s technology-led differentiation, integrated service offerings, and capital-efficient expansion model position it to capture incremental market share while maintaining quality consistency. On the financial front, the business model is characterized by revenue visibility driven by IVF cycle volumes, relatively high gross margins inherent in ART procedures, and improving EBITDA margins as centres mature and fixed costs are absorbed over higher throughput. The asset-light structure supports calibrated capex intensity, better return ratios, and controlled leverage, positioning the company for sustainable cash flow generation as utilization scales. Overall, improving financial performance, scalable infrastructure, and structural industry growth drivers provide long-term growth visibility. The issue is valued at a P/E ratio of 25.3x on the upper price band based on FY25 earnings. we thus recommend a “SUBSCRIBE” rating for this issue.
What is the Gaudium IVF and Women Health Ltd. IPO?
The initial public offer (IPO) of Gaudium IVF and Women Health Ltd. offers an early investment opportunity in. A stock market investor can buy Gaudium IVF and Women Health Ltd. IPO shares by applying in IPO before All Gaudium IVF and Women Health Ltd shares get listed at the stock exchanges. An investor could invest in Gaudium IVF and Women Health Ltd for short term listing gain or a long term.
How to apply for the Gaudium IVF and Women Health Ltd IPO through StoxBox?
To apply for the Gaudium IVF and Women Health Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Gaudium IVF and Women Health Ltd IPO open?
Gaudium IVF and Women Health Ltd IPO is opening on 20 Feb Jan 2026. Apply Now
What is the lot size of the Gaudium IVF and Women Health Ltd IPO?
The Lot Size of Gaudium IVF and Women Health Ltd IPO is 189 equity shares. Login to your account now.
When is the Gaudium IVF and Women Health Ltd IPO allotment date?
The allotment Date for Gaudium IVF and Women Health Ltd IPO is 25th Feb 2026. Login to your account now.
When is the Gaudium IVF and Women Health Ltd IPO listing date?
The listing Date for Gaudium IVF and Women Health Ltd IPO is 27th Feb 2026. Login to your account now
What is the minimum investment required for the Gaudium IVF and Women Health Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,931. Login to your account now
What is the maximum investment allowed for the Gaudium IVF and Women Health Ltd IPO?
In the Retail segment the maximum investment requirement is Rs. 1,941,03. Login to your account now
What are the risks associated with investing in the Gaudium IVF and Women Health Ltd IPO?
- The company operates in the fertility healthcare segment and is exposed to operational, medical, legal, and reputational risks inherent in providing treatments such as IVF, IUI, ICSI, and egg freezing. Any adverse clinical outcomes, procedural complications, regulatory non-compliance, or failure to maintain consistent treatment quality could negatively impact patient trust, brand reputation, and future patient inflows, thereby materially affecting the company’s business performance and financial results.
- The company operations are highly dependent on the availability and retention of qualified doctors, nurses, embryologists, and other healthcare professionals. The company has experienced elevated employee attrition, which may affect service continuity and clinical consistency.
- The company is dependent on a limited pool of skilled embryologists, whose expertise is critical to the success rates and quality of ART procedures. The loss of key embryologists or the inability to attract and retain qualified professionals in this specialized field could disrupt clinical operations, affect treatment outcomes, and impair the company’s reputation.
When will the Gaudium IVF and Women Health Ltd. IPO shares be credited to my Demat account?
The Gaudium IVF and Women Health Ltd. IPO be credited to the account on allotment date which is 25th Feb 2026. Login to your account now
Where can I find the Gaudium IVF and Women Health Ltd. IPO prospectus?
The prospectus of Gaudium IVF and Women Health Ltd. IPO prospectus can be find on the website of SEBI, NSE and BSE
