PNN
Mumbai (Maharashtra) [India], September 9: Galaxy Medicare Limited (The Company, Galaxy) is a manufacturer, trader, and exporter of medical devices, Plaster of Paris (POP) bandages, and surgical dressings. It proposes to open its Initial Public Offering on Sep 10, 2025, aiming to raise ₹ 22.31 Crores (at upper price band) with shares to be listed on the NSE Emerge platform.
The issue size is 41,32,000 equity shares with a face value of ₹ 10 each with a price band of ₹ 51 – ₹ 54 Per Share.
Equity Share Allocation
– Qualified Institutional Buyer – Not more than 80,000 Equity Shares
– Non-Institutional Investors – Not less than 15,36,000 Equity Shares
– Individual Investors – Not less than 23,08,000 Equity Shares
– Market Maker – Up to 2,08,000 Equity Shares
The net proceeds from the IPO will be utilised for funding Capital Expenditure requirements towards the purchase of machinery for our existing manufacturing facility at Bhubaneshwar, Odisha, funding the working capital requirements, and general corporate purposes. The issue will open on Wednesday, Sep 10, 2025 and will close on Friday, Sep 12, 2025.
The Book Running Lead Manager to the Issue is Affinity Global Capital Market Private Limited, and the Registrar is Cameo Corporate Services Limited.
Mr. Dillip Kumar Das, Managing Director of Galaxy Medicare Limited, expressed, “Our journey of over three decades in the healthcare and medical devices industry has been driven by our commitment to quality, innovation, and customer trust. Galaxy Medicare Limited has steadily grown its presence across multiple business verticals, including our flagship brands, contract manufacturing, institutional sales, exports, and trading. With a well-diversified portfolio of medical devices, plaster of Paris bandages, and surgical dressings marketed under 27 registered trademarks, we have established a strong reputation in India and international markets.
The upcoming IPO will enable us to strengthen our manufacturing capabilities through the purchase of advanced machinery at our Bhubaneswar facility, which will enhance our production efficiency and product quality. Additionally, the proceeds will support our working capital requirements, enabling us to meet growing demand and expand our institutional and export business further. We believe this step will position us for sustained growth while contributing meaningfully to the healthcare sector, supporting both domestic and global healthcare needs.”
Ms. Shruti Bhalotia, Director of Affinity Global Capital Market Private Limited “We are pleased to act as the Book Running Lead Manager for the upcoming IPO of Galaxy Medicare Limited, a well-established player in the medical devices and healthcare products industry. The company has demonstrated consistent growth over three decades, supported by a diversified business model that includes flagship brands, contract manufacturing, institutional sales, exports, and trading.
Given the increasing demand for quality medical devices and surgical products driven by rising healthcare awareness and government initiatives, Galaxy Medicare is well-positioned to capitalise on market opportunities. The proposed utilisation of IPO proceeds for enhancing manufacturing capabilities and supporting working capital reflects a prudent strategy to drive operational efficiency and business expansion. We believe the company’s strong brand presence, wide product portfolio, and global market reach provide a comprehensive foundation for sustainable growth.”
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