Galaxy Medicare IPO
GMP, Subscription, Price, Dates & Financial Details
Medical Equipment
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…
Open Date
Wed, 10 Sep 2025
Close Date
Fri, 12 Sep 2025
Price Band
₹ 51 – 54
Lot Size
2000
Issue Size
₹ 22.31 Cr
Minimum Investment
₹ 216,000 (4000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Galaxy Medicare IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹22.31 Crore, comprising a fresh issue of 31.00 Lakh equity shares aggregating to ₹16.74 Crore and an offer for sale (OFS) of 8.24 Lakh equity shares aggregating to ₹4.45 Crore by the existing shareholders.
The Galaxy Medicare IPO remained open for subscription from September 10, 2025, to September 12, 2025. The basis of allotment was finalized on September 15, 2025, and the company's shares were listed on NSE SME Platform on September 17, 2025.
The company had fixed the price band at ₹51 to ₹54 per share, with a lot size of 2000 shares. Retail investors were required to make a minimum investment of ₹216,000 (based on the upper price band) to apply for one lot.
Cameo Corporate Services Limited served as the registrar to the issue. Affinity Global Capital Market Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Galaxy Medicare Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Galaxy Medicare IPO Timeline (Tentative)
- IPO Open Date
- Wed, 10 Sep 25
- IPO Close Date
- Fri, 12 Sep 25
- Basis of Allotment
- Mon, 15 Sep 25
- Initiation of Refunds
- Tue, 16 Sep 25
- Credit of Shares to Demat
- Tue, 16 Sep 25
- Listing Date
- Wed, 17 Sep 25 — NSE & BSE
Open Date
10 September 2025
Close Date
12 September 2025
Basis Of Allotment
15 September 2025
Listing Date
17 September 2025
IPO Subscription
Check Live Subscription →The Galaxy Medicare IPO has received bids for 73,98,000 shares against 39,24,000 shares offered, resulting in an overall subscription of 1.89x. the NII category is subscribed 1.61x, Retail Investors 2.1x, and QIBs 1x. Within the NII category, BNII is subscribed 2.09x, while SNII is subscribed 0.66x.
QIB
1x
NII
1.61x
BNII
2.09x
SNII
0.66x
RII
2.1x
Total
1.89x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 23,08,000 shares, representing 58.82% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 80,000 shares (2.04%), while Non-Institutional Investors (NIIs) receive 15,36,000 shares (39.14%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 80,000 | 2.04% |
| Non-Institutional | 1,536,000 | 39.14% |
| BNII | 1,024,000 | 26.1% |
| SNII | 512,000 | 13.05% |
| Retail Investors | 2,308,000 | 58.82% |
| Total | 3,924,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Galaxy Medicare Limited KPI Information
| 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 |
| Pat Margin % | 8.6 | 10.26 | 5.04 |
Peers Comparison
| 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 |
About Galaxy Medicare Limited
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.
Galaxy Medicare IPO Promoters
- Mr. Dillip Kumar Das
- Mr. Subhasish Das
- Mrs. Kiran Das
Promoters Holding
Holding Pre Issue
89.49%
Holding Post Issue
64.60%
Galaxy Medicare IPO Objective
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
Galaxy Medicare Limited Address / Contact Details
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
Galaxy Medicare IPO Lot Size
The Galaxy Medicare IPO has a lot size of 2,000 shares. Retail investors require a minimum investment of ₹2,16,000 by applying for 2 lot (4,000 shares). The maximum application allowed for the retail category is 2 lots (4,000 shares), requiring an investment of ₹2,16,000.
| 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 |
Issue Reservation
- QIB — 2.04%
- NII — 39.14%
- RII — 58.82%
Book Running Lead Managers
- Affinity Global Capital Market Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Galaxy Medicare IPO?
Galaxy Medicare IPO is a Book-building IPO with a total issue size of ₹22.31 crore. The Galaxy Medicare IPO price band is ₹51 to 54 per share. The Galaxy Medicare IPO subscription opens on Wed, Sep 10, 2025, and closes on Fri, Sep 12, 2025. The Galaxy Medicare IPO will be listed on the NSE. Cameo Corporate Services Limited is the registrar for the Galaxy Medicare IPO.
When will the Galaxy Medicare IPO open for subscription?
The Galaxy Medicare IPO opens on Wed, Sep 10, 2025 and closes on Fri, Sep 12, 2025
What is Galaxy Medicare IPO Price Band?
Galaxy Medicare IPO Price Band is ₹51 to 54 per share.
What is Galaxy Medicare IPO Lot Size?
Galaxy Medicare IPO lot size is 2000 shares, Retail investors need a minimum investment of ₹216000 based on the upper price band
What is the minimum investment for Galaxy Medicare IPO?
The minimum investment for Galaxy Medicare IPO is ₹216000, based on one lot of 2000 shares at the upper price band of ₹54 per share.
How to apply for Galaxy Medicare IPO?
Investors can apply for the Galaxy Medicare IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Sep 12, 2025. The application amount remains blocked until the Galaxy Medicare IPO allotment is finalized.
What is Galaxy Medicare IPO Issue Size?
Galaxy Medicare IPO issue size is ₹22.31 crores.
What is the Galaxy Medicare IPO Allotment Date?
Galaxy Medicare IPO allotment date is Mon, Sep 15, 2025.
Who is the Galaxy Medicare IPO Registrar?
The registrar for Galaxy Medicare IPO is Cameo Corporate Services Limited. Investors can go to Cameo Corporate Services Limited website to check Galaxy Medicare IPO allotment status, refund processing, and other IPO-related information.
What is the Galaxy Medicare IPO GMP?
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 3.70% over the issue price.
Who is the Galaxy Medicare IPO Lead Manager?
The book-running lead managers (BRLMs) for the Galaxy Medicare IPO are Affinity Global Capital Market Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Galaxy Medicare IPO Red Herring Prospectus (RHP).