Gaudium IVF’s IPO opens on Feb 20

Fertility services provider Gaudium IVF and Women Health Ltd fixed a price band of Rs 75-79 per share for its Rs 165 crore initial public offering (IPO).

At the upper end, the company’s valuation is pegged at Rs 575 crore. The company’s maiden public offering will open for subscription on February 20 and conclude on February 24.

The bidding for anchor investors will take place on February 18, according to its public announcement. With this, it will become the first company in the fertility care sector to tap the public markets.

The proposed offering comprises a fresh issue of 1.14 crore equity shares and an offer for sale (OFS) of nearly 95 lakh equity shares by promoter Manika Khanna.

Proceeds from the fresh issue are intended for capital expenditure of Rs 50 crore to establish 19 new IVF centres across India, along with repayment or pre-payment of certain borrowings of Rs 20 crore, and for general corporate purposes.

Founded by Khanna, Gaudium IVF has established itself as a pioneer in assisted reproductive technologies in India.