Gaudium IVF shares make a positive market debut; stock list at 5% premium

Shares of Gaudium IVF & Women Health made a positive Dalal Street debut on Friday, February 27 as the healthcare services provider was listed at Rs 83 apeice on both BSE Ltd and NSE, a premium of 5.06 per cent over its issue price of Rs 79 apeice. Investors made a profit of Rs 756 per lot consisting of 189 equity shares.

The listing of Gaudium IVR has been above the expectations. Ahead of its debut Gaudium IVF and Women Health was commanding a no grey market premium (GMP), suggesting a muted listing for the investors. However, the GMP stood around Rs 5-6 per share during the bidding period.

The IPO of Gaudium IVF & Women Health was sold between February 20 and February 24. It offered its shares in the price band of Rs 75-79 per share with a lot size of 189 shares. The company raised a total of Rs 165 crore from its IPO, which included a fresh share sale of Rs 90 crore and an offer-for-sale (OFS) of up to 93,94,700 equity shares worth Rs 75 crore.

The issue was overall booked subscribed 7.27 times, attracting bids worth over Rs 840.15 crore via over 2.49 lakh applications. The portion for qualified institutional bidders (QIBs) was booked 1.62 times, while the quota for non-institutional investors (NIIs) was subscribed 14.05 times. The allocation for retail investors was subscribed 7.60 times during the three-day bidding period.

Incorporated in March 2015, New Delhi-based Gaudium IVF and Women Health is engaged in In-Vitro Fertilization (IVF) treatments throughout India and has expanded into several states utilizing a hub-and-spoke model. It operates over thirty locations, which include seven hubs (centres) and twenty-eight spokes.

Brokerage firms were mostly positive on the issue, suggesting to subscribe to it for long-term. Sarthi Capital Advisors is the sole book running lead manager for Gaudium IVF and Women Health IPO and Bigshare Services is the registrar of the issue.