Galaxy Medicare Limited
Bookbuilding IPO · NSE
- Price band
- ₹51 - ₹54
- Lot size
- 2,000 shares
- Issue amount
- ₹22.31 cr
- Total subscription
- 1.89×
- Opens
- 10 Sept 2025
- Closes
- 12 Sept 2025
- Allotment
- 15 Sept 2025
- Listing
- 17 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 41,32,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,02,000
- Fresh issue
- ₹17.86 cr
- Offer for sale
- ₹4.45 cr
- Registrar
- Cameo Corporate Services Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,08,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,18,63,983
- Shares after issue
- 1,51,71,983
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,16,000 |
| sHNI | 3 | 6,000 | ₹3,24,000 |
| bHNI | 10 | 20,000 | ₹10,80,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 12 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 1 |
| NIB | 0 | 73 |
| RETAIL | 577 | 1,211 |
| HNIs(10L +) | 171 | 23 |
| HNIs (2-10L) | 85 | 50 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 0.43 | 0.43 |
| Others | 0 | 0.43 |
| RETAIL | 12.46 | 26.16 |
| HNIs 2+ | 2.76 | 1.83 |
| HNIs 10+ | 5.53 | 11.53 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 2.84 | 3.12 | 1.32 |
| ROE | 19.88 | 26.98 | 14.08 |
| ROCE | 22.38 | 25.17 | 14.08 |
| RONW | 18.35 | 23.85 | 13.16 |
| PRE IPO(PE) | 19.01 | 0 | 0 |
| POST IPO(PE) | 24.31 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Adeshwar Meditex Limited | 12.59 | 18 | 10 | 27.69 | 5.17 | 1.43 |
| KMS Medisurgi Limited | 95.11 | 126.5 | 10 | 24.5 | 5.44 | 1.33 |
| Galaxy Medicare Limited | NA | NA | 10 | 14.06 | 10.25 | 2.84 |
Company information
Company profile
Galaxy Medicare Limited, incorporated in July 1992, is engaged in the manufacturing and export of medical devices, POP bandages, and surgical dressings in India. The company uses premium-grade raw materials sourced from authentic vendors to ensure quality in its production. Its product portfolio includes surgical dressings, plaster of Paris bandages, adhesive tapes, compression bandages, gauze products, wound care solutions, and orthopedic items. Galaxy Medicare operates through multiple business verticals, such as manufacturing and branding under its flagship names like POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, and FIXCAN, among others. It also caters to OEM requirements by sourcing, designing, manufacturing, and testing products according to brand owners’ specifications on a Principal-to-Principal basis. Additionally, the company participates in institutional sales through government tenders on the GEM portal, exports its products internationally, and trades in surgical devices and dressings. With 27 registered trademarks in India, its products are widely accepted by the medical community and supplied across the country to government health departments, corporate hospitals, and private organizations. The company holds ISO 9001:2015 and ISO 13485:2016 certifications, reflecting its commitment to quality and adherence to global standards. As of March 2025, Galaxy Medicare employs 190 people across various departments.
Strengths
- Proven Industry Track Record – Over 30 years of operations with strong brand reputation and trusted customer relationships.
- Wide & Diversified Product Portfolio – 27+ registered trademarks catering to multiple medical needs, minimizing product concentration risk.
- Multiple Revenue Streams – Balanced income from branded sales, OEM partnerships, government contracts, and exports ensuring stability and growth.
Risk factors
- High Customer Concentration Risk – Heavy reliance on a few key customers, where the loss of any major account could severely affect revenue stability and profitability.
- Raw Material Supply & Cost Risk – Dependence on timely availability of raw materials; shortages or price escalations may disrupt operations and compress margins.
- Legal & Compliance Exposure – Pending litigations and compliance requirements pose potential risks to reputation, financial health, and business continuity.
Promoters
Mr. Dillip Kumar Das
Mr. Subhasish Das
Mrs. Kiran Das
Registrar & documents
Lead manager
Affinity Global Capital Market Private Limited
Registrar & contacts
Cameo Corporate Services Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No-2, Zone D, Phase A, Mancheswar Industrial Estate Khurda Bhubaneshwar, Odisha, 751010
+91 9937000991
[email protected]Company website ↗Understanding GML IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.