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Gaudium IVF IPO Day 2 Live: The initial public offering (IPO) of Gaudium IVF & Women Health Ltd opened for bidding on 20 February 2026and will remain open until 24 February 2026. The book build issue aims to raise ₹165 crore from this initial offer, out of which ₹75 crore is reserved for the Offer for Sale (OFS). The remaining ₹90 crore is to be raised through the issuance of fresh shares.

The company's promoters have announced the Gradium IVF IPO price band of ₹75 to ₹79 per equity share. The public issue is proposed for listing on the BSE and the NSE.

According to market observers, the company's shares are available in the grey market at a premium of ₹8.50 per share. This means Gradium IVF IPO GMP today is ₹8.50. This means the Gradium IVF IPO Grey Market Premium is signalling a listing gain of around 11% for potential allottees among total applicants.

By 10:21 AM on day 2 of bidding, the public issue was subscribed 1.32 times, the retail portion was subscribed 1.91 times, and the NII segment was subscribed to 1.71 times.

On the financial front, the business model is characterised 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 utilisation scales. Overall, improving financial performance, scalable infrastructure, and structural industry growth drivers provide long-term visibility for growth. The issue is valued at a P/E ratio of 25.3x on the upper end of the price band, based on FY25 earnings. We thus recommend a "SUBSCRIBE" rating for this issue.

— BP Equities

The issue is valued at a P/E ratio of 25.3x on the upper end of the price band, based on FY25 earnings. We thus recommend a "SUBSCRIBE" rating for this issue.

— BP Equities

The net proceeds from the fresh issue will be used towards the following purposes:

1] Funding capital expenditure towards establishment of new IVF Centers of the company;

2] Repayment/pre-payment, in full or in part, of certain outstanding loans availed by thecompany; and

3] General corporate purposes.

According to market observers, the company's shares are available in the grey market at a premium of ₹8.50 per share. This means Gradium IVF IPO GMP today is ₹8.50. This means the Gradium IVF IPO Grey Market Premium is signalling a listing gain of around 11% for potential allottees among total applicants.Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed organisations like NDTV Profit, The ...

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