Galaxy Medicare IPO: What Just Happened?
Galaxy Medicare Limited, a trusted name in the medical devices industry since 1992, recently wrapped up its SME IPO on the NSE Emerge platform. With a goal to raise ₹22.31 crore, the IPO ran from September 10 to 12, 2025, and has been a topic of moderate buzz among investors.
Let’s break down the key points: how it performed, what the allotment means, how the grey market reacted, and whether it’s a stock worth holding post-listing.
Quick IPO Highlights
- Issue Type: SME, Book Building
- Price Band: ₹51 – ₹54
- Issue Size: ₹22.31 crore (41.32 lakh shares)
- Lot Size: 2,000 shares
- Listing Date: September 17, 2025
- Registrar: Cameo Corporate Services
Company Snapshot: What Does Galaxy Medicare Do?
Galaxy Medicare makes essential healthcare products like:
- Plaster of Paris bandages
- Surgical dressings
- Gauze, tapes, and wound care items
They supply to both government health departments and private hospitals, and export to countries like the UK, Germany, Bangladesh, and Nepal. Their 27+ registered trademarks include names like POP BAND, G CAST, and CARETAPE, signaling a strong brand foundation.
Financial Health Check (FY23–FY25)
Here’s how the company has been performing financially:
| Year | Revenue (₹ Cr) | EBITDA (₹ Cr) | Net Profit (₹ Cr) |
|---|---|---|---|
| 2023 | 32.03 | 3.14 | 1.57 |
| 2024 | 36.94 | 5.26 | 3.71 |
| 2025 | 40.27 | 4.58 | 3.37 |
- Revenue: Up 9% YoY in FY25
- Profit: Down 9% YoY in FY25
Why the dip in profit? Rising costs and lower margins seem to be squeezing profitability despite growing sales.
IPO Subscription Breakdown
The IPO was subscribed 1.83x overall—not a runaway hit, but not weak either.
| Category | Subscription |
|---|---|
| Retail (RII) | 2.10x |
| HNIs (NII) | 1.48x |
| Institutions (QIB) | 1.00x |
The retail crowd showed up, but institutional investors played it safe with a minimal 1x subscription. That’s a signal of lukewarm long-term confidence.
Grey Market Premium (GMP): A Wild Ride
- Opening GMP: ₹0
- Closing GMP (Sept 12): ₹5
- Final GMP (Sept 15): ₹0
The GMP hinted at brief excitement, but fizzled out by allotment day. This pattern suggests short-lived speculation rather than lasting investor enthusiasm.
How to Check Your Allotment Status
You can check your status in two easy ways:
Method 1: Registrar’s Website (Cameo Corporate)
- Visit Cameo IPO Allotment Page
- Choose “Galaxy Medicare”
- Enter your PAN, Application Number, or DP/Client ID
- Complete the captcha and submit
Method 2: NSE Website
- Go to NSE IPO Allotment Page
- Select Equity > Galaxy Medicare
- Enter PAN and Application Number
- Click Submit
Listing Day Strategy: Sell or Hold?
Let’s weigh your options:
Reasons to Hold:
- Established brand with international presence
- Steady revenue growth
- Long-term healthcare demand is rising
Reasons to Sell:
- Profitability is declining
- GMP is flat—no obvious listing pop
- Institutional interest is neutral
Our Take: If you’re a short-term investor, consider exiting early. If you’re long-term and believe in healthcare, hold—but watch the next few quarters closely.
Key Takeaways
- Galaxy Medicare IPO had decent retail support but lacked institutional hype
- Financials show growth with shrinking profit margins
- GMP was volatile and ended flat—pointing to a measured listing
- Allotment results are available from September 15
- Listing is scheduled for September 17 on NSE Emerge
FAQs
Q: Is Galaxy Medicare a good long-term bet?
A: It has strong fundamentals and market reach, but recent profit dips suggest watching how it manages costs going forward.
Q: Will I make listing gains?
A: Unlikely. With GMP at ₹0, a flat opening is more probable.
Q: Can I still buy after listing?
A: Yes, but only after doing your own due diligence. Watch the first-week price movement and volume.
Final Thought
The Galaxy Medicare IPO wasn’t a blockbuster, but it wasn’t a flop either. For investors, it’s a lesson in staying grounded – don’t chase grey market hype. Let the fundamentals guide your next move.
