Incorporated in 1992, Galaxy Medicare manufactures and exports medical devices, POP bandages, surgical dressings, adhesive tapes, compression bandages, and other wound‑care products under brands such as POP BAND, POP CAST, G CAST, and CARETAPE. Products are supplied to government departments, corporate hospitals, and private buyers across India and exported to select markets; the company holds 27 registered trademarks and maintains ISO 9001:2015 and ISO 13485:2016 certifications.
Galaxy Medicare IPO
NSE SME book‑built issue (Fresh + OFS)
UPCOMING IPOGalaxy Medicare is launching an NSE SME IPO aggregating up to ₹22.31 crore, comprising a fresh issue of about ₹17.86 crore and an OFS of about ₹4.45 crore. The offer opens on September 10, 2025 and closes on September 12, 2025, with allotment expected on September 15 and listing proposed on September 17, 2025. The price band is ₹51 to ₹54 per share; SME retail minimum is 2 lots of 2,000 shares each, i.e., 4,000 shares for ₹2,16,000.
| Face Value | ₹10 per share |
|---|---|
| Issue Price Band | ₹51 to ₹54 per share |
| Offer Structure | Fresh + Offer for Sale |
| Total Shares | 41,32,000 shares (aggregating up to ₹22.31 crore) |
| Fresh Issue (ex‑MM) | 31,00,000 shares (aggregating up to ₹16.74 crore) |
| Offer for Sale | 8,24,000 shares (aggregating up to ₹4.45 crore) |
| Reserved for Market Maker | 2,08,000 shares (approximately ₹1.12 crore) |
| Net Offer to Public | 39,24,000 shares (approximately ₹21.19 crore) |
| Issue Type | Book‑building SME IPO |
| Listing | NSE SME |
| Shareholding (Pre / Post) | 1,18,63,983 / 1,51,71,983 shares |
| Lead Manager | Affinity Global Capital Market Pvt. Ltd. |
| Registrar | Cameo Corporate Services Ltd. |
| Market Maker | Prabhat Financial Services Ltd. |
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 2,08,000 (5.03%) |
| QIB | 80,000 (1.94%) |
| NII (HNI) | 15,36,000 (37.17%) |
| Retail (RII) | 23,08,000 (55.86%) |
| Total | 41,32,000 (100.00%) |
| IPO Open | Wed, Sep 10, 2025 |
|---|---|
| IPO Close | Fri, Sep 12, 2025 |
| Allotment (Tentative) | Mon, Sep 15, 2025 |
| Refunds Initiation | Tue, Sep 16, 2025 |
| Credit to Demat | Tue, Sep 16, 2025 |
| Listing (Tentative) | Wed, Sep 17, 2025 |
| UPI Mandate Cut‑off | 5 PM on Sep 12, 2025 |
| 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 |
Incorporated in 1992, Galaxy Medicare manufactures and exports medical devices, POP bandages, surgical dressings, adhesive tapes, compression bandages, and other wound‑care products under brands such as POP BAND, POP CAST, G CAST, and CARETAPE. Products are supplied to government departments, corporate hospitals, and private buyers across India and exported to select markets; the company holds 27 registered trademarks and maintains ISO 9001:2015 and ISO 13485:2016 certifications.
Summary (₹ crore)
| 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 & Surplus | 12.29 | 9.51 | 14.78 |
| Total Borrowings | 4.61 | 8.12 | 9.15 |
Source: Business press previews and IPO trackers aligned to the RHP; band, lot, schedule, size mix, and registrar/LM corroborated. For authoritative audited figures, refer to the RHP.
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The IPO pricing and lotBlog comment creation size seem quite steep for retail investors, especially with the minimum investment starting at ₹2,16,000. It will be interesting to see how demand plays out, given Galaxy Medicare’s strong presence in the medical supplies space and its export operations. Watching how the listing performs on September 17 could give insight into investor sentiment for SME healthcare companies.