Galaxy Medicare Limited Link 
Allotment
Galaxy Medicare Limited’s IPO was a book-built issue aggregating ₹22.31 crore. The issue comprised a fresh issue of 0.33 crore equity shares amounting to ₹17.86 crore and an offer for sale of 0.08 crore equity shares aggregating ₹4.45 crore.
The IPO opened for subscription on September 10, 2025, and closed on September 12, 2025. The allotment was finalized on September 15, 2025, and the company’s shares were listed on the NSE SME platform on September 17, 2025.
The price band for the IPO was fixed at ₹54 per share. The lot size for an application was 2,000 shares. Retail investors were required to apply for a minimum of 2 lots (4,000 shares), amounting to an investment of ₹2,16,000 at the upper price band. For HNI investors, the minimum application size was 3 lots (6,000 shares), requiring an investment of ₹3,24,000.
Affinity Global Capital Market Pvt. Ltd. acted as the Book Running Lead Manager for the issue, while Cameo Corporate Services Ltd. served as the registrar. Prabhat Financial Services Ltd. was appointed as the market maker for the IPO.
₹54
0%
Open
₹54
HIgh - Low
₹54
Previous Close
₹54
Total Traded Value
0
52 Weeks High
₹54
52 Weeks Low
₹54
Updates On
Sep 1, 2025
IPO. Open
Sep 10, 2026
IPO. Close
Sep 12, 2026
IPO. Price
₹54.00
IPO Market price
₹81.93 Cr
IPO Details
| IPO Date | 17 Sep |
| IPO Listing Date | 17 Sep |
| IPO Face Value | Rs.10 |
| IPO Price Range | ₹54.00 |
| IPO Issue Size | 41,32,000 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 1,18,63,983 shares |
IPO Timeline
| IPO Open Date | 10 Sep |
| IPO Close Date | 12 Sep |
| IPO Allotment (Tentative) | 15 Sep |
| Refunds | 16 Sep |
| Credit to Demat Account | 16 Sep |
| IPO Listing Date | 17 Sep |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 80,000 Shares |
| NII (HNI) Shares Offered | 15,36,000 Shares |
| Retail Shares Offered | 23,08,000 Shares |
IPO Lot Size
Investors can bid for a minimum of 4,000 shares, with additional shares to be purchased in multiples of 2,000.
| Application | Lots | Share | 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 July 1992, Galaxy Medicare Limited is an India-based manufacturer and exporter of medical devices, plaster of Paris (POP) bandages, and surgical dressings.
The company manufactures its products using premium-grade raw materials sourced from reliable and authenticated vendors. It specializes in a wide range of healthcare products, including surgical dressings, POP bandages, adhesive tapes, compression bandages, wound care solutions, gauze products, and orthopedic items, catering to diverse medical requirements.
Galaxy Medicare’s business operations include:
Manufacturing and branding under its flagship brands such as POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE, GYPSONET, GYPSOCHLOR, FIXCAN, among others
OEM manufacturing, including sourcing of components, product design, manufacturing, and quality testing as per brand owners’ specifications on a principal-to-principal basis
Institutional sales through government tenders on the GeM (Government e-Marketplace) portal
Exports and trading of surgical devices and dressings in international markets
The company holds 27 registered trademarks in India and serves both domestic and international markets. Its products are widely accepted within the medical community and are supplied across India to government health departments, corporate hospitals, and private healthcare institutions.
Galaxy Medicare Limited adheres to stringent quality standards and is certified under ISO 9001:2015 and ISO 13485:2016, reflecting its commitment to delivering reliable and high-quality healthcare products.
As of March 2025, the company employed 190 people across various departments.
Competitive Strengths
Experienced leadership and skilled management team
Established reputation with long-standing customer relationships
Strong focus on consistent adherence to quality standards
Well-established manufacturing facility with a diversified product portfolio
In-house Quality Assurance (QA), Quality Control (QC), and Research & Development capabilities
Presence in international markets
Company Financials (Consolidated)
| 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 and Surplus | 12.29 | 9.51 | 14.78 |
| Total Borrowing | 4.61 | 8.12 | 9.15 |
Key Performance Indicator (KPI)
| ROE | 19.88% |
| ROCE | 22.38% |
| Debt/Equity | 0.25 |
| RoNW | 18.35% |
| PAT Margin | 8.60% |
| EBITDA Margin | 11.69% |
| Price to Book Value | 3.49 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 4.89 |
| 2 | To meet out the expenses of Working Capital Requirement | 8.94 |
| 3 | To meet out the General Corporate Purposes; | 2.25 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Galaxy Medicare Ltd. Address
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/
Detail Registrar
IPO Registrar
Cameo Corporate Services Ltd.
+91-44-28460390
investor@cameoindia.com
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