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Galaxy Medicare IPO
Price Band
₹51.0–54.0
Issue Size
₹22.31 Cr
Lot Size
2,000 shares
Min Investment
₹216,000
2 LOTS MIN
GMP
—
Issue Price
₹54.0
Galaxy Medicare IPO AI Summary
- Galaxy Medicare IPO is listed on NSE SME in the Medical Equipment & Supplies sector.
- Price band: ₹51.0–₹54.0 per share, lot size 2,000 shares (min. investment ₹216,000, 2 lots minimum).
- Subscription window: 10 Sep–12 Sep 2025, listing on 17 Sep 2025.
Galaxy Medicare Limited is a well-established player in the medical equipment sector, with a focus on quality and a diverse product range. The company is looking to raise funds through its IPO to enhance its manufacturing capabilities and meet working capital needs.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Galaxy Medicare IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 12 Sep 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Galaxy Medicare IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in July 1992, Galaxy Medicare Limited manufactures and exports medical devices, POP bandages, and surgical dressings in India. The company manufactures these products using premium grade raw material that is procured from the authentic vendors of the market. The company specializes in various products, including surgical dressings, plaster of Paris bandages, adhesive tapes, compression bandages, and wound care solutions. Their offerings meet diverse medical needs, including gauze products and orthopedic items. The company's business includes the following:- Manufacturing and branding for flagship brands: POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, FIXCAN ETC.; OEMs source components, design, manufacture, and test quality according to brand owners' specifications under Principal-to-Principal basis; Institutional sales via government tenders on GEM Portal; Exporting its products internationally and trading surgical devices dressings. The company has 27 registered trademarks in India, serving domestic and international markets. The company's products are accepted by the medical community and supplied throughout India to government health departments, corporate hospitals, and private entities. The company complies with ISO 9001:2015 and ISO 13485:2016 certifications, ensuring that its products meet the rigorous demands of healthcare institutions. As of March 2025, the company has 190 employees in various departments. Competitive Strength: Experienced Leadership and Skilled Management Team. Established reputation and customer relationships. Focus on consistently meeting quality standards. Well Established Manufacturing Facility with Wide Range of Products. In-house Quality Assurance (QA) / Quality Control (QC) and Research & Development for quality control. International market Presence.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 31.49 | 32.53 | 32.31 |
| Total Income | 40.27 | 36.94 | 32.03 |
| Profit After Tax | 3.37 | 3.71 | 1.57 |
| EBITDA | 4.58 | 5.26 | 3.14 |
| NET Worth | 18.36 | 15.54 | 11.94 |
| Reserves and Surplus | 12.29 | 9.51 | 14.78 |
| Total Borrowing | 4.61 | 8.12 | 9.15 |
Key Ratios
EPS
₹2.84
NAV
₹15.48
ROE
19.88%
ROCE
22.38%
RoNW
18.35%
P/B Value
3.49
P/E Ratio
19.01
Market Cap
₹81.93 Cr
PAT Margin
8.60%
Debt/Equity
0.25
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| KMS Medisurgi | 24.5 | 5.44% | 95.11 | 1.33 | 1.33 |
| Adeshwar Meditex | 27.69 | 5.17% | 12.59 | 1.43 | 1.43 |
| Galaxy Medicare This IPO | 14.06 | 10.25% | — | 2.84 | 2.84 |
Promoters
Dillip Kumar Das, Subhasish Das and Kiran Das
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 . Funding Capital Expenditure requirement towards purchase of machinery for the existing manufacturing facility at Bhubaneshwar, Odisha 4.89 2 Funding the working capital requirements 8.94 3 General Corporate Purposes 2.25 4 To meet the offer related expenses 1.79
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹32.03 Cr in the year ending 31 Mar 2023, rising to ₹36.94 Cr by 31 Mar 2024, and further increasing to ₹40.27 Cr by 31 Mar 2025. This indicates a consistent upward trend in revenue over the three periods.
Profit Trend
Profit after tax was ₹1.57 Cr for the year ending 31 Mar 2023, increasing to ₹3.71 Cr by 31 Mar 2024, and then slightly decreasing to ₹3.37 Cr by 31 Mar 2025. While there was growth in profit from 2023 to 2024, the subsequent period shows a decline, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Galaxy Medicare's implied P/E at the issue price of ₹54.0 is roughly 19.01, compared to peers trading at P/E ratios ranging from 12.59 to 95.11.
Grey Market Premium, Explained
The grey market is an unofficial market where shares are traded before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests strong demand, while a negative GMP indicates weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk appetite. Consider the company's growth potential and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid this IPO, as the medical equipment sector can be volatile and subject to regulatory changes.
IPO Timeline, Explained
The IPO opens for subscription on 10 September 2025 and closes on 12 September 2025. Allotment of shares will be finalized by 15 September 2025, with shares expected to be listed on the stock exchange on 17 September 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed at a higher price than the issue price. However, these gains are not guaranteed, and market conditions can lead to fluctuations in share prices post-listing.
This evaluation is generated from Galaxy Medicare's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Galaxy Medicare IPO?
The price band of Galaxy Medicare IPO is ₹51.0–₹54.0 per share.
When does Galaxy Medicare IPO open and close?
Galaxy Medicare IPO opens on 10 September 2025 and closes on 12 September 2025.
When does Galaxy Medicare IPO list on the stock exchange?
Galaxy Medicare IPO listed on 17 September 2025 at ₹54.0.
What is the lot size for Galaxy Medicare IPO?
The lot size for Galaxy Medicare IPO is 2000 shares, requiring a minimum investment of ₹216,000 (2 lots).
What is the lot size for this IPO?
The lot size for Galaxy Medicare's IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required is ₹216,000.
What is the price band for this IPO?
The price band for the IPO is ₹51.0 to ₹54.0.
When is the listing date?
The listing date for Galaxy Medicare is 17 September 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
10 Sep 2025
Close
12 Sep 2025
Allotment
15 Sep 2025
Listing
17 Sep 2025
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