Galaxy Medicare IPO
Open SmeCurrent GMP
₹6 (+11.11%)
Price Band
₹ 51 – 54
Lot Size
2000
Issue Size
₹22.31 Cr
Minimum Investment
₹216000 (4000 Shares)
Listing Date
17 September 2025
Subscription
1.89x
About the Company
Incorporated in July 1992, Galaxy Medicare Limited is a well-established Indian manufacturer, trader, and exporter of medical devices, Plaster of Paris (POP) bandages, surgical dressings, and wound care products. With over three decades of industry presence, the company has built a strong reputation for quality and reliability in both domestic and international markets.
Core Products and Specializations
Galaxy Medicare manufactures a wide range of healthcare and surgical products using premium-grade raw materials sourced from reputed vendors. Its core product portfolio includes:
- Surgical dressings
- Plaster of Paris bandages
- Adhesive tapes
- Compression bandages
- Wound care and orthopedic solutions
These products cater to a broad spectrum of medical requirements, serving hospitals, healthcare institutions, and distributors across India and abroad.
Business Operations
The company's operations are diversified across the following key areas:
- In-house Manufacturing & Branding: Products are sold under well-known proprietary brands, including POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, and FIXCAN.
- OEM Manufacturing: Galaxy Medicare offers contract manufacturing services, developing and testing products to meet the specific requirements of brand owners on a Principal-to-Principal basis.
- Institutional Sales: Supplies to various central and state government health departments through tender participation on the Government e-Marketplace (GeM) portal.
- Exports & Trading: The company exports its products internationally, especially to neighboring countries like Bangladesh and Nepal, while also engaging in the trade of surgical devices and dressings.
As of March 2025, Galaxy Medicare employs 190 personnel across departments including production, quality, sales, and R&D.
Trademarks and Certifications
- Holds 27 registered trademarks in India, supporting brand recognition and product differentiation.
- Complies with ISO 9001:2015 and ISO 13485:2016 quality standards, ensuring that all products meet the rigorous expectations of global healthcare institutions.
Market Presence and Financial Highlights
Galaxy Medicare has developed a widespread distribution network across India, supplying to:
- Central and state government health departments
- Corporate hospitals
- Private healthcare providers
The company has also maintained strong export performance:
- INR 8.47 crore in export revenue for FY 2023-24 (up from INR 7.27 crore in FY 2022-23)
- INR 3.93 crore in exports during the half-year ended September 30, 2024
Competitive Strengths
- Experienced Leadership and Skilled Management
- Established Brand Reputation and Customer Relationships
- Consistent Focus on Quality Compliance
- State-of-the-Art Manufacturing Facilities
- In-house QA/QC and R&D Capabilities
- Expanding Global Presence
Galaxy Medicare Limited continues to drive growth through product innovation, operational excellence, and a strong commitment to quality. With a well-diversified portfolio and a growing global footprint, the company remains a trusted partner in the healthcare industry.
Promoters
- Mr. Dillip Kumar Das
- Mr. Subhasish Das
- Mrs. Kiran Das
Promoters Holding
Holding Pre Issue
89.49%
Holding Post Issue
64.60%
Objects of the Issue
The Company Galaxy Medicare IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding Capital Expenditure requirement towards purchase of machinery for the existing manufacturing facility at Bhubaneshwar, Odisha
- Funding the working capital requirements
- General Corporate Purposes
- To meet the offer related expenses
Address / Contact Info
Galaxy Medicare Limited
Plot No-2, Zone D,
Phase A, Mancheswar Industrial Estate
Khurda Bhubaneshwar, Odisha, 751010
Phone: +91 9937000991
Email: CS@galaxymed.co.in
Website: http://www.galaxy.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 10 September 2025
IPO Close Date
Friday, 12 September 2025
Basis of Allotment
Monday, 15 September 2025
Initiation of Refunds
Tuesday, 16 September 2025
Credit of Shares to Demat
Tuesday, 16 September 2025
Listing Date
Wednesday, 17 September 2025 — NSE & BSE
Important Dates
Open Date
10 September 2025
Close Date
12 September 2025
Basis Of Allotment
15 September 2025
Listing Date
17 September 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 31.49 | 32.53 | 32.31 |
| Revenue | 40.27 | 36.94 | 32.03 |
| Profit After Tax | 3.37 | 3.71 | 1.57 |
| Net Worth | 18.36 | 15.54 | 11.94 |
| Reserve & Surplus | 12.29 | 9.51 | 14.78 |
| Total Borrowings | 4.61 | 8.12 | 9.15 |
EPS Pre
2.84%
EPS Post
2.22%
P/E Pre
19.01
P/E (Post Issue)
24.31x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 19.88 | 26.98 | 14.08 |
| ROCE % | 22.38 | 25.17 | 14.08 |
| Debt / Equity | 0.25 | 0.52 | 0.77 |
| RoNW % | 18.35 | 23.85 | 13.16 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 8.6 | 10.26 | 5.04 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 80000 | 2.04 | 0 |
| Non-Institutional | 1536000 | 39.14 | 0 |
| BNII | 1024000 | 26.1 | 0 |
| SNII | 512000 | 13.05 | 0 |
| Retail Investors | 2308000 | 58.82 | 0 |
| Total | 3924000 | 100 | 0 |
Subscription Status ( Fri, 12 Sep 25 01:32 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 80000 | 80000 | 1x |
| Non-Institutional | 1536000 | 2474000 | 1.61x |
| BNII | 1024000 | 2136000 | 2.09x |
| SNII | 512000 | 338000 | 0.66x |
| Retail Investors | 2308000 | 4844000 | 2.1x |
| Total | 3924000 | 7398000 | 1.89x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Galaxy Medicare Ltd | 10 | 0.00 | 2.84 | 2.84 | 10.25 | 14.06 |
| Adeshwar Meditex Ltd | 10 | 12.59 | 1.43 | 1.43 | 5.17 | 27.69 |
| KMS Medisurgi Ltd | 10 | 95.11 | 1.33 | 1.33 | 5.44 | 24.50 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | 216,000.00 |
| Retail (Max) | 2 | 4,000 | 216,000.00 |
| S-HNI (Min) | 3 | 6,000 | 324,000.00 |
| S-HNI (Max) | 9 | 18,000 | 972,000.00 |
| B-HNI (Min) | 10 | 20,000 | 1,080,000.00 |
Registrar
Cameo Corporate Services Limited
044 - 2846 0390/91/92/93/94/95
cameo@cameoindia.com
https://cameoindia.com
Book Running Lead Managers
- Affinity Global Capital Market Private Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Galaxy Medicare IPO is a Book-building IPO worth ₹22.31 crores. The price band is ₹51 to 54 per share. The IPO opens on Wed, Sep 10, 2025 and closes on Fri, Sep 12, 2025. It will be listed on BSE and NSE. Cameo Corporate Services Limited is the registrar.
The Galaxy Medicare IPO opens on Wed, Sep 10, 2025 and closes on Fri, Sep 12, 2025
Galaxy Medicare IPO Price Band is ₹51 to 54.
Galaxy Medicare IPO lot size is 2000, and the minimum amount required for application is ₹216000.
The minimum investment for Galaxy Medicare IPO is approximately ₹216000 based on the upper price band.
To apply for the Galaxy Medicare IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Sep 12, 2025. After submission, funds are blocked until the basis of allotment of Galaxy Medicare IPO is finalised.
Galaxy Medicare IPO issue size is ₹22.31 crores.
Galaxy Medicare IPO allotment date is Sat, Jun 27, 2026.
The registrar for Galaxy Medicare IPO is Cameo Corporate Services Limited. Investors can go to Cameo Corporate Services Limited website for IPO allotment status, refund processing, and other queries related to Galaxy Medicare IPO through their official website or helpline.
The Galaxy Medicare IPO GMP (Grey Market Premium) is ₹2 as of Fri, Sep 12, 2025. Based on the upper price band of ₹54 per share, the estimated Galaxy Medicare IPO listing price is ₹56, indicating a potential listing gain of approximately 31% over the issue price.