The initial public offering (IPO) of Gaudium IVF & Women Health Ltd. Continues to draw investor attention, with the grey market premium (GMP) remaining relatively stable on the second day of subscription, February 23, 2026. The Delhi-based In Vitro Fertilisation (IVF) treatment provider aims to raise ₹165 crore through its public offering, and early indicators suggest cautious optimism from the market.
While the IPO received a lukewarm response on its first day, February 20, 2026, the current grey market sentiment points towards a potential listing gain for successful allottees. Investors are carefully evaluating the company’s position in the rapidly growing, yet often stigmatized, fertility industry in India. The IPO is open for bidding until February 24, 2026, and will be listed on both the NSE and BSE, tentatively scheduled for February 27, 2026.
Gaudium IVF IPO: GMP and Subscription Status
As of 3:36 PM on February 23, the Gaudium IVF IPO was subscribed 2.64 times, according to market observers. The retail portion of the IPO has seen strong demand, being subscribed 3.66 times, while the Non-Institutional Investors (NII) segment is subscribed 3.77 times. The grey market premium currently stands at ₹6 per share, indicating an estimated listing price of ₹85, a premium of 7.59% over the IPO price band of ₹75 to ₹79 per share. It’s important to note that the GMP does not represent official data and is based on market speculation.
On the first day of bidding, February 20, the IPO was overall subscribed 0.88 times. Retail investors drove the initial subscription, booking their quota 1.37 times, while the NII segment was subscribed 0.91 times. Qualified Institutional Buyers (QIBs) did not submit any applications on the first day, Livemint reported.
IPO Details and Investment Information
The Gaudium IVF IPO comprises a fresh issue of 1.14 crore shares, amounting to ₹90 crore, and an offer-for-sale (OFS) portion of 95 lakh shares, worth ₹75 crore. Retail investors can apply for a minimum of 189 shares, requiring an investment of at least ₹14,931. Small NIIs need to apply for at least 14 lots (worth ₹2,09,034), while big NIIs require a minimum investment of ₹10,00,377 for 67 lots. The company intends to utilize the IPO funds for establishing recent IVF centers, repaying debts, and for general corporate purposes.
Gaudium IVF & Women Health Ltd., incorporated in 2015, currently operates 30 centers across India, including two in Delhi and one each in Bengaluru, Mumbai, Ludhiana, Patna, and Srinagar. The company’s business model is characterized by revenue visibility driven by IVF cycle volumes, relatively high gross margins inherent in assisted reproductive technology (ART) procedures, and improving EBITDA margins as centers mature, according to analysts.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and carefully read the red herring prospectus before making any investment decisions.
As the subscription window closes on February 24th, investors will be closely watching the final subscription numbers and the potential for a successful listing. The performance of the Gaudium IVF IPO could serve as a litmus test for investor appetite in the growing, yet sensitive, fertility services sector in India.
