Gaudium IVF IPO: GMP Today, Subscription, Allotment Link & Details

Company provides a variety of advanced fertility treatments to helps couples in achieving parenthood through safe, personalized and technology based care. Its main services include IVF, ICSI and IUI to treat both male and female infertility problems like low sperm count, hormonal imbalance, ovulation disorders and unexplained infertility. In addition, company offers specialized treatments for PCOS/PCOD, endometriosis, male infertility and ovulation induction. It also provide advanced procedures like TESA, IMSI, laser-assisted embryo implantation, cryopreservation, frozen embryo transfer (FET), genetic testing (PGT) and infertility-related surgeries.

Company provides additional support services like surrogacy-related medical treatment, a dedicated day-care hospital facility in Delhi NCR for women & child care procedures. It also has an in-house pharmacy to ensure continuous and seamless treatment. Company also provides guidance to international patients through online consultations and a London-based collaboration for IVF consultancy services.

Expanding Presence with Hub-and-Spoke Model

Company has built a strong nationwide presence with more than 30 locations, which includes 7 hub centers & 28 spoke centers.This has been made possible by strategic alliances with infertility experts. Its min hubs are located in Delhi (Janakpuri & Kailash Colony), Mumbai, Ludhiana, Srinagar, Patna and Bengaluru. This network allows the company to serve patients across India and also international patients from countries like Canada, United Kingdom, United States, Kenya, South Africa and Oman.

Treatment Volume, Patient Reach & Clinical Performance

Company performed 3,512 IVF cycles in FY2023, 3,711 cycles in FY2024 and 3,476 cycles in FY2025. Company completed 1,824 cycles by September 30, 2025. OPD visits also increased consistently to 8,145 in FY2025. This shows consistent patient traffic and rising demand for Assisted Reproductive Technology (ART) services across its centers.

Patient-Centric Approach and Industry Recognition

Company follows a patient-focused and holistic treatment approach. It supports couples through their entire fertility journey from initial consultation to pregnancy. Its care model is supported by modern technology, expert medical professionals and well-defined clinical protocols. Over the years, the company has received several awards like Asia’s Greatest Brands (2016), Symbol of Brand Excellence (2018) and IVF Chain Company of the Year (2019). This indicates its credibility and position in specialized fertility healthcare sector.

India is one of the fastest-growing IVF markets in the world. It is expected to grow from around USD 1.32 billion to USD 4.54 billion by 2034 at a CAGR of 13.13%. Market growth is supported by an estimated 25–30 million infertile couples. It is further supported by late marriages, higher age of mothers and growing awareness of fertility treatments.

Also, new technologies like AI-based embryo selection and genetic testing are helping improve success rates & increase patient confidence. With the implementation of the ART Act, 2021 and the Surrogacy Act, 2021,ART services now operate under a regulatory framework. India’s affordable treatment ecosystem and increasing medical tourism are also helping the industry grow continuously.

• The listed peer companies are not exactly comparable because the company’s business and size are different, but they are shown for general comparison.
• The company’s financial data is based on its restated financial statements for FY2025.
• Peer financials are based on FY2024 figures, and currency exchange rates as of December 31, 2024.
• The closing price of Progyny Inc. was taken from NASDAQ and Inspire IVF Public Company Limited from the Stock Exchange of Thailand on January 17, 2025, and then converted into Indian Rupees using the exchange rates as of December 31, 2024.

• Healthcare Service & Quality Risk : Company provides fertility treatments like IVF, IUI, ICSI and related services, which involve operational, medical, legal and reputational risks. If it fails to deliver quality healthcare and satisfy patient needs,its reputation, growth, and overall financial results may be damaged.
• Employee & Medical Staff Dependency Risk : Company fertility services is highly dependent on doctors, nurses and other healthcare professionals. Company has experienced high employee attrition, up to 63% in FY2025. It also spends a considerable part of its expenses( roughly 6 to 13%) on professional and consultation fees to doctors. If company cannot attract and retain skilled medical staff, it may negatively affect service quality, operational efficiency, reputation and financial results.
• Dependence on Limited Embryologists : Company’s operations depend on just five embryologists for seven centers, each performing up to 120 cycles per month. Losing them or failing to retain them could disrupt treatments and operations continuity. While no embryologists left in recent periods, their limited number and rising costs (₹31.83 lakhs in Sep 2025) create operational and scalability risks.
• Negative Cash Flow History : Company had negative investing cash flows from FY23 to FY25 and in Sep 2025, this is mainly due to capital expenditure and investments (₹1,517.42 lakh in FY25). Company reported negative financing cash flow in FY24, while cash balances declined by ₹464.00 lakh in FY25 despite generating positive operating cash flows.
• Technology & Equipment Upgradation Risk : Company depends on advanced IVF medical equipment and must keep up with fast-changing technology. Any failure to upgrade it’s equipment, processes and staff training as per changing industry standards could lose competitiveness, affect service quality.This could also adversely affect business prospects and financial results.
• IVF Success Rate Fluctuation : Company’s IVF success rates remained in the range of 57.01% to 58.74% from FY23 to September 2025. However, IVF results are unpredictable and depend on patient health and other medical factors outside control. Any drop or fluctuation in success rates may negatively affect patient trust, reputation, lower demand and overall business performance.

• Experienced Leadership & Medical Experts : Company was founded by infertility experts Dr. Manika Khanna and Dr. Peeyush Khanna. Both of them have over 20 years of experience. They are supported by experienced gynecologists and embryologists who are capable of handling complex fertility treatments with high clinical quality
• Advanced Technology & Modern Labs : Company has advanced labs and modern equipment like INTEGRA Ti™ for ICSI, Samsung ultrasound systems, advanced egg evaluation tools, and sterile operating environments. These facilities support safe, precise and high-quality reproductive treatments.
• Comprehensive Technical Capabilities : Company has strong expertise in ultrasound-guided and diagnostic services such as HSG, transvaginal scans, follicular monitoring, biopsies, transrectal ultrasounds, and ovarian cyst aspiration. This expertise helps in effective management of complex infertility cases.
• Flexible and Affordable Payment Options : It offers customized treatment packages with both lump-sum and installment payment options, which makes treatments more affordable and accessible while maintaining quality care.
• Asset-Light and Scalable Business Model : Company follows standardized SOPs, strong internal controls, and reduced dependency on individual practitioners. This helps in maintaining efficient operations, consistent service quality across all centers while supporting growth.
• Strategically Established Hub Centers : Company operates in major cities like Delhi NCR, Mumbai, Bangalore, and Patna, where advanced treatment such as IVF, IUI, embryo freezing and embryo transfer are performed with high standards of care.
• Hub-and-Spoke Expansion Strategy : A network of smaller spoke centers connected to main hubs makes services more accessible in underserved areas. It supports consultations & follow-ups locally, better use of resources and strengthens referrals while maintaining consistent service quality across the network.

• Dr. Peeyush Khanna is the Promoter and Whole Time Director, holds an MBBS and a Diploma in Child Health. He brings over 10 years of pediatric experience. He manages pediatric division and supports PAN-India operations and management.
• Vishad Khanna – As Promoter & Non Executive Director, he holds a Computer Science degree from the University of Southern California. He has experience in internships across IT, operations and healthcare-related sectors. He contributes to the company’s strategy, operations, and social healthcare initiatives through his non-profit work.

GMP of Gaudium IVF IPO is currently around ₹8.50 (as of february 23, 2026). You can check live grey market trends on the ARJANAM IPO – GMP page🚀.

✅ For live category-wise subscription updates, visit our ARJANAM IPO – Subscription Page 🔔.

Once the allotment is announced (likely on February 25, 2026), you can easily check your application status online on our Arjanam IPO Allotment Status page or directly on the registrar’s website, Bigshare Services Pvt. Ltd. 💻.

Retail investors must apply for a minimum of 1 lot (189 shares), which requires ₹14,931 at the upper price band of ₹79 💸.

The IPO is open for subscription from February 20, 2026 and will close on Tuesday, February 24, 2026 🔒.

The refund process or fund unblocking for investors who did not receive allotment is expected to begin on February 26, 2026 💸.

The allotment is likely to be finalized on February 25, 2026 (Wednesday) 📌.

If allotted, shares are expected to be credited to eligible investors’ Demat accounts on February 27, 2026 💎.

The shares are offered in a price range of ₹75–₹79 per share 🎯.

The shares are expected to be listed on Friday, February 27, 2026, on both the BSE and NSE Mainboard 📈.