Galaxy Medicare IPO commenced on Wednesday, September 10 and will conclude on Friday, September 12. Galaxy Medicare IPO price band has been set at ₹51 to ₹54 equity share, each with a face value of ₹10. Investors can place bids for a minimum of 2,000 equity shares and in multiples of 2,000 shares thereafter.
Galaxy Medicare Limited produces and exports medical devices, POP bandages, and surgical dressings in India.
The company creates these products using high-quality raw materials sourced from reputable vendors in the market.
They specialize in a variety of products, such as surgical dressings, plaster of Paris bandages, adhesive tapes, compression bandages, and wound care solutions.
Their offerings cater to a wide range of medical needs, encompassing gauze products and orthopedic items.
The company prioritizes building strong relationships with clients and working closely with them to meet their needs. Over the last thirty years, we have formed long-lasting partnerships with clients, including domestic brand owners, and also supply products to customers in Bangladesh and Nepal. These relationships emphasize their commitment to providing dependable products and services internationally.
As per the red herring prospectus (RHP), the company’s listed peers are Adeshwar Meditex Ltd (with a P/E of 12.59), and KMS Medisurgi Ltd (with a P/E of 95.11).
Galaxy Medicare IPO subscription status
Galaxy Medicare IPO subscription status is 73% on day 2 so far, as per chittorgarh.com. The retail portion was subscribed 61%, and NII portion was booked 89%. The qualified institutional buyers portion is booked 1 times.
The company has received bids for 28,56,000 shares against 39,24,000 shares on offer on the second bidding day, at 15:14 IST, according to data on chittorgarh.com.
Galaxy Medicare IPO details
The Galaxy Medicare IPO includes a new issue of 33 lakh shares totaling ₹17.9 crore, along with an offer for sale (OFS) of 8.2 lakh shares valued at ₹4.45 crore.
The company plans to use the funds raised for capital expenditures, working capital requirements, and general corporate needs. Affinity Global Capital Market Pvt. Ltd. serves as the book-running lead manager, while Cameo Corporate Services Ltd. acts as the registrar for the issue. Prabhat Financial Services Ltd. is designated as the market maker for the company.
Galaxy Medicare IPO GMP today
Galaxy Medicare IPO GMP today is +5. This indicates Galaxy Medicare share price were trading at a premium of ₹5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Galaxy Medicare share price was indicated at ₹59 apiece, which is 9.26% higher than the IPO price of ₹54.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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