Galaxy Medicare IPO: Price, GMP, Analysis, And Details

Galaxy Medicare IPO- Company Analysis

Galaxy Medicare IPO under the SME IPO category is a bookbuild issue of Rs. 22.31 Cr by Galaxy Medicare Ltd, which was incorporated in 1992 and produces and exports surgical dressings, POP bandages, and medical gadgets.

The business uses premium-grade raw materials that are purchased from reliable market sellers to make these goods. It specializes in a number of goods, such as sticky tapes, compression bandages, plaster of Paris bandages, surgical dressings, and wound care items.

Their products, which include orthopedic and gauze supplies, address a variety of medical demands.

 

The following are part of the company's operations:

• Production and branding for the POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, and other flagship brands.

• Under a principal-to-principal arrangement, OEMs procure parts, design, build, and test quality in accordance with brand owners' specifications.

• Institutional sales through the GEM Portal for government tenders.

• Worldwide product exports and trade in surgical device dressings.

 

Galaxy Medicare IPO Details

The Galaxy Medicare IPO date is on 10 September 2025, and its initial public offering will end on 12 Sep with IPO allotment on Sep 15, and refund initiation on Sep 16, 2025.

The Rs. 22.31 crore new SME IPO comprises a combination of fresh issue of 0.33 crore shares (Rs. 17.86 Cr) and an offer for sale of 0.08 crore shares (Rs. 4.45 Cr).

The Galaxy Medicare IPO listing date (expected) might be on Wednesday, Sep 17, 2025, and listing at the NSE and SME. 

The Galaxy Medicare IPO price band is Rs. 51 to Rs. 54.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Sep 10, 2025
IPO Closing Date	Sep 12, 2025
IPO Allotment Date	Sep 15, 2025
Refund Initiation	Sep 16, 2025
IPO Listing Date	Sep 17, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	31.49	32.53	32.31
Total Revenue	40.27	36.94	32.03
PAT	3.37	3.71	1.57
Net Worth	18.36	15.54	11.94
Reserves & Surplus	12.29	9.51	14.78
Borrowings	4.61	8.12	9.15

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	448.50	270.84	365.27
Net Cash Flow Investing Activities	32.23	(65.37)	(191.37)
Net Cash Flow Financing Activities	(471.88)	(207.97)	(180.40)

Revenue Bifurcation

 

Product-wise Revenue Breakdown

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• The amount of money needed to finance the purchase of machinery for the current Bhubaneshwar, Odisha, manufacturing plant. Rs. 4.89 Cr.

• Paying for the necessary operational capital. Rs. 8.94 Cr.

• General Corporate Purposes.

• To cover the costs associated with the offer.

 

Listed Peers of Galaxy Medicare Ltd. 

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Adeshwar Meditex Limited	10	1.43	12.59
KMS Medisurgi Limited	10	1.33	95.11

 

Valuation

Metric	Value
ROCE	22.38%
ROE	19.88%
PBV	3.49
Debt/Equity	0.25
PAT Margin	8.60%
EBITDA Margin	11.69%
RoNW	18.35%

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 2.84 from the last year, the resulting P/E ratio is 19.01x. When compared with the industry’s average P/E of 52.13x, it indicates an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors.

Explore the Vigor Plast IPO.

IPO's Strengths 

• Knowledgeable management team and seasoned leadership.

• Built a solid reputation and relationships with customers.

• Concentrate on continuously fulfilling quality requirements.

• A reputable manufacturing facility that produces a variety of goods.

• Internal research and development, as well as internal quality assurance (QA) and control (QC).

 

 

IPO’s Weaknesses

• Risk of customer concentration.

• Key promoter dependency.

• Transactions involving highly related parties.

• The company needs several licenses and approvals. Operations may suffer if they are not obtained or renewed promptly.
  
  

Galaxy Medicare IPO GMP (Grey Market Premium)

Galaxy Medicare IPO GMP today has not started yet as of 09 Sep 2025 at the time of writing this information.

Galaxy Medicare IPO Summary

The Galaxy IPO has a market maker portion size of 2,08,000 Shares (Rs. 1.12 Cr).

IPO Opening & Closing Date	10 Sep, 2025 to 12 Sep, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 51 to Rs. 54 per Share.
Lot Size	2000 Shares
Issue Size	41,32,000 Shares (Rs. 22.31 Cr)
Offer for Sale	8,24,000 Shares (Rs. 4.45 Cr)
Fresh Issue	31,00,000 Shares (Rs. 16.74 Cr)
Listing at	NSE, SME
Issue Type	Bookbuilding IPO
Registrar	Cameo Corporate Services Ltd.

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,16,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (6000 Shares) for Rs. 3,24,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Galaxy Medicare IPO Allotment Status

To check the Galaxy Medicare IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Galaxy Medicare Ltd.

• Mr. Dillip Kumar Das

• Mr. Subhasish Das

• Mrs. Kiran Das.

Pre-Issue Promoter Shareholding	89.49%
Post-Issue Promoter Shareholding	64.60%

 

IPO Lead Managers

• Affinity Global Capital Market Pvt. Ltd.

Dividend Policy

The company has paid a dividend of Rs. 0.75, Rs. 0.50, and Rs. 0.50 per share in FY25, FY24, and FY23, respectively.

Conclusion

Investors can learn more about a specialized manufacturer of medical supplies with solid financials and well-known brands through the Galaxy Medicare IPO. In contrast to industry peers, prices seem reasonable despite risks such as promoter dependency and customer concentration. The IPO's profits will boost working capital, increase capacity, and fortify operations.       

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.