Galaxy Medicare was incorporated on July 23, 1992. The company manufactures, trades, and exports medical devices such as POP bandages, medical tapes, surgical dressings, and wound care products. Its promoters bring extensive experience in the medical device and surgical dressing industry
| Bidding Dates |
|---|
| 10 Sep 2025 - 12 Sep 2025 |
| Subscription |
|---|
| 1.79x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,04,000 | 2 | 2 | 2000 | 4.1 M | ₹51 - ₹54 | 72.43 % | ₹210.7 M - ₹223.1 M | RHP DOC |
Galaxy Medicare IPO SUBSCRIPTION STATUS
12 Sep '25Galaxy Medicare IPO overall subscription rate was 1.79 times the total available shares
Galaxy Medicare IPO retail subscription rate was 3.35 times in the retail segment
Galaxy Medicare IPO non-institutional investor subscription rate was 3.99 times in the non-institutional investor category
Galaxy Medicare IPO Qualified Institutional Bidder subscription rate was 0.04 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
12 Sep 2025 (Day 3) | 3.35x | 3.99x | 0.04x |
11 Sep 2025 (Day 2) | 1.1x | 2.91x | 0.04x |
10 Sep 2025 (Day 1) | 0.48x | 1.62x | 0.04x |
Galaxy Medicare FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 39.2 | 3.4 | 4.4 | 4.3 | 11.7% |
| FY24 | 36.2 | 3.7 | 2.7 | 2.5 | 14.6% |
| FY23 | 31.2 | 1.6 | 3.7 | 2.9 | 10.1% |
Galaxy Medicare IPO SUBSCRIPTION STATUS DETAILS
Galaxy Medicare had 4.1 M shares on offer
Galaxy Medicare IPO offer price was in the range ₹51 - ₹54
Galaxy Medicare IPO minimum Investment was ₹204000
Galaxy Medicare IPO issue size was ₹ 210.7 M - ₹ 223.1 M
Galaxy Medicare had a minimum lot size of 2000 Shares per application
Galaxy Medicare NUMBER OF SHARES ON OFFER
Galaxy Medicare IPO IMPORTANT DATES
| Issue Open Date | 10 Sep 2025 |
| Issue close Date | 12 Sep 2025 |
| Allotment Date | 15 Sep 2025 |
| Refund Date | 16 Sep 2025 |
| Demat Account Credit Date | 16 Sep 2025 |
| Listing Date | 17 Sep 2025 |
| Listing on Exchange(s) | NSE |
| Galaxy Medicare Allotment Status | Exchange/ Registrar |
Galaxy Medicare IPO subscription opened on 10 Sep 2025, and closed on 12 Sep 2025
IPO allotment for Galaxy Medicare was finalized on Monday, 15 Sep 2025
IPO listing for Galaxy Medicare was on NSE on Wednesday, 17 Sep 2025
Galaxy Medicare IPO LISTING GAINS
| Issue Price (adjusted) | 54.0 |
| Listing Open Price | 54.0 |
| Listing Close Price | 51.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -66.8% |
Galaxy Medicare Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Galaxy Medicare Ltd. | 17.9 | 27.2 | 7.9 | 5.6 | 0.7 | 8.5 | 7 | 41.3 | 2.6 | 3.4 | 1.4 | 2.3 | 1.4 |
| Tarsons Products Ltd. | 313.5 | 1668 | 150.3 | -2.5 | 3.8 | 2.2 | 1.2 | 446.7 | 9.4 | 14.3 | -51.9 | 2.1 | -59.7 |
| Fabtech Technologies Cleanrooms Ltd. | 388.5 | 478.6 | 30.3 | 15.2 | 8.5 | 221.7 | 46.9 | 15.8 | 19 | 12.8 | |||
| Hemant Surgical Industries Ltd. | 355 | 462.9 | 24.1 | 13.9 | 7 | 237.7 | 112.7 | 19.2 | 138.7 | 14.7 | |||
| Prevest Denpro Ltd. | 378.4 | 454.3 | 22.2 | 1.7 | 6.3 | 16.4 | 15.4 | 76.7 | 14.4 | 20.5 | 12.9 | 17.1 | 12.9 |
| Aprameya Engineering Ltd. | 147 | 280 | 54.9 | 7.4 | 6.2 | 55.6 | -59.2 | 5.1 | -68.3 | 2.7 |
Galaxy Medicare INFORMATION ON IPO ISSUE
About Galaxy Medicare
Galaxy Medicare was incorporated on July 23, 1992. The company manufactures, trades, and exports medical devices such as POP bandages, medical tapes, surgical dressings, and wound care products. Its promoters bring extensive experience in the medical device and surgical dressing industry
Object of the Issue
- Funding capital expenditure requirement towards purchase of machinery for their existing manufacturing facility at Bhubaneshwar, Odisha
- Funding the working capital requirements
- General corporate purposes
- To meet the offer expenses
Galaxy Medicare - PROMOTERS
| Name |
|---|
| Dillip Kumar Das |
| Kiran Das |
| Subhasish Das |
| D. K. Das & Sons HUF |
Galaxy Medicare - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Dillip Kumar Das | Chairman & Managing Director |
| Kiran Das | Whole time Director |
| Subhasish Das | Whole time Director |
| Shaswat Kumar Rout | Non-Executive & Independent Director |
| Aklant Das | Non-Executive & Independent Director |
| Soumya Mohanty | Non-Executive & Independent Director |
Galaxy Medicare Book Running Lead Manager
Affinity Global Capital Market Private Limited
compliance@affinityglobal.in
Galaxy Medicare Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Galaxy Medicare Strengths
In-house quality control
The company prioritizes quality and research with a dedicated QC/QA team, laboratory testing, and multi-stage checks to meet global standards. A specialized product development team focuses on innovation and enhancement of surgical dressings and external preparations, aligned with market needs and client preferences
Global presence
The company follows a dual focus on domestic and international markets, supported by a strong network of agents and distributors. In FY24, exports contributed Rs 8.46 crore, and Rs 3.93 crore in H1FY25, reflecting consistent growth and commitment to expanding its global footprint
Diverse product portfolio
The company manufactures a wide range of medical devices including POP bandages, medical tapes, surgical dressings, wound care products, disposable items, absorbent gauze, medical kits, cotton gauze, and face masks, widely used in hospitals, clinics, and nursing homes. Its diversified portfolio supports large-scale production, deeper market penetration, and stronger brand loyalty
Galaxy Medicare Risks
Counterfiet risks
The proliferation of counterfeit and look-alike products poses a serious risk to the company’s brand and reputation. Such imitation of its name, packaging, or product specifications may reduce market share, harm goodwill, and adversely affect business and financial performance
Disruptions in supply of raw material
Any delay, interruption, or reduction in the supply of raw materials could disrupt production, increase costs, and delay customer deliveries, thereby adversely affecting the company’s operations, cash flows, and financial condition. Despite maintaining multiple supplier relationships, supply chain risks such as regulatory restrictions, vendor delays, or natural disruptions may still materially impact business performance
Capital intensive
The company’s operations demand substantial working capital to finance inventory and raw materials. Any shortfall in meeting these requirements could disrupt client servicing, strain finances, and adversely affect results of operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.4 crore, of 824,000 shares. It also consists of a fresh issue of Rs 17.9 crore.
The promoters of the company are Dillip Kumar Das, Kiran Das, Subhasish Das and D. K. Das & Sons HUF.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 51.0 - 54.0.
The IPO application opens on Sep 10, 2025 and closes on Sep 12, 2025.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 204,000.0, the maximum value for this IPO is Rs 216,000.0.
This IPO will be allotted on Sep 15, 2025.
The refund will be credited to your account on Sep 16, 2025.
The allotted shares will be credited to your demat on Sep 16, 2025.
Galaxy Medicare Ltd.’s shares listed on the stock exchanges on Sep 17, 2025.