Gaudium IVF IPO: Check IPO Date, Lot Size, Price & Details

Business Overview:

Incorporated in 2015, Gaudium IVF is a specialised fertility treatment provider operating across India through a hub-and-spoke model. Founded by Dr. Manika Khanna, a trained gynecological endoscopic surgeon with international exposure, the company focuses on assisted reproductive technology (ART) and comprehensive reproductive healthcare services.

The company has a pan India presence with over 30 locations, including seven major hubs and multiple spoke centers operated through strategic alliances. Its key hubs are located in Delhi, Mumbai, Ludhiana, Srinagar, Patna, and Bangalore, enabling access to patients across North, West, and South India. The network also caters to international patients from countries such as Canada, the UK, the US, Kenya, South Africa, and Oman.

Gaudium IVF offers a full range of fertility treatments including In-vitro Fertilization (IVF), Intra-cytoplasmic Sperm Injection (ICSI), Intra-uterine Insemination (IUI), ovulation induction, frozen embryo transfer (FET), genetic testing (PGT), and fertility preservation services such as egg freezing. The company also provides male infertility treatments, laparoscopic and hysteroscopic procedures, PCOS and endometriosis management, high risk pregnancy care, and fertility wellness programs.

IPO Synopsis:

Objective of the Issue:

• Funding Capex towards establishment of New IVF Centers of the Company - ₹ 50 crores.
• Repayment/pre-payment of outstanding loans availed by the Company - ₹ 20 crores.
• General Corporate Purpose.

Strengths:

• Scalable Hub-and-Spoke Model:
  The company operates advanced hubs in key metro cities supported by spoke centres in surrounding regions. Complex IVF procedures are performed at hubs, while spokes manage consultations and follow-ups. This structure improves accessibility, expands geographic reach and maintains quality control, enabling efficient patient management across underserved and urban markets.

• Process Driven Operating Structure:
  Gaudium IVF operates through standardized clinical protocols, defined SOPs, and structured internal controls. The model reduces dependence on individual practitioners and ensures consistent treatment quality across centres. This institutional framework supports scalability, operational stability, and predictable performance, enabling sustainable expansion without compromising clinical standards.

• Technology Driven Care and Experienced Team:
  The company utilizes advanced laboratory systems, modern ultrasound equipment, and sterile operating environments to support high precision fertility treatments. Led by experienced promoters and supported by skilled gynecologists and embryologists, the clinical team strengthens treatment outcomes, builds patient trust, and enhances the brand’s positioning in reproductive healthcare.

Risks:

• High Attrition Rate:
  The company is dependent on doctors, embryologists, nurses and trained healthcare staff. Employee attrition stood at 51% in FY23, 51% in FY24, 63% in FY25, and 31% for the period ended September 30, 2025. Competition from fertility clinics and multi-specialty hospitals for a limited talent pool may increase hiring costs and affect operational stability.
• Revenue Volatility Linked to Treatment Cycles and ARPP:
  Revenue depends on the number of IVF cycles, OPU (Ovum pick-up), and embryo transfer (ET) procedures performed. The company conducted 3,512 cycles in FY23, 3,711 in FY24, 3,476 in FY25, and 1,824 cycles as of September 30, 2025. Average revenue per patient was 3.44 in FY23, 1.89 in FY24, and 3.55 in FY25, reflecting volatility and stagnant ARPP over the past three fiscal years.
• Regulatory and Operational Complexity:
  The IVF industry is subject to evolving regulatory, ethical, and clinical standards. The business depends on advanced medical technology and skilled specialists. Any regulatory changes, technology disruptions, or shortage of trained professionals may impact operations.

Financial Snapshot (Rs. In Crores):

IPO Allotment

Find out the allotment status for the Gaudium IVF IPO by checking its registrar's page.