Galaxy Medicare IPO Witnesses Full Subscription with Strong Retail Demand

New Delhi, Sep 12, 2025 – Galaxy Medicare Limited’s ₹22 crore SME IPO was subscribed 1.83 times on the final day. The IPO oversubscription was mainly led by strong retail demand and good response from all investor categories. The listing of the stock will take place on NSE Emerge on September 17, 2025.

Strong Final Day Subscription

On September 12, 2025, the SME IPO of Galaxy Medicare Limited ended with overall bids for 71.66 lakh shares as against the issue size of 39.24 lakh shares. The application size represents an overall oversubscription of 1.83 times. Positive investor response was seen in all categories, led by retail interest being very strong.

Category-Wise Investor Response

Retail Individual Investors (RIIs) were the largest source of demand, oversubscribing their quota by 2.09 times with 48.20 lakh shares bid against 23.08 lakh they held. Non-Institutional Investors (NIIs) subscribed 1.48 times, with bids for more than ₹10 lakh dominating. The Qualified Institutional Buyer (QIB) segment also got subscribed to by a single bid of 80,000 shares.

IPO Structure and Key Details

Galaxy Medicare IPO comprised 39.24 lakh equity shares, including a fresh issue of 31,00,000 shares and an offer for sale of 8,24,000 shares, offered to the public. The IPO was priced in the range of ₹51–₹54, and the minimum lot size was 2,000 shares, equivalent to an investment of ₹1,02,000–₹1,08,000. The window for bidding was open between September 10 to 12, 2025. The issuer’s registrar is Cameo Corporate Services Ltd and the market maker is Prabhat Financial Services Ltd.

Listing Outlook

With sharp oversubscription spearheaded by retail investors and strong support from NIIs, Galaxy Medicare will have a smooth launch. The IPO will be listed on September 17, 2025, on the NSE Emerge platform, where investor attention will move to post-listing price action.

Company Overview

Established in 1992 at Bhubaneswar, Odisha, Galaxy Medicare Limited deals in the production and export of medical devices, surgical dressings, and POP bandages. Its main brands are POP Band, Carepore, GypsoNet, and GypsoChlor. The company has a vast client base comprising government organizations, hospitals, and private healthcare institutions within domestic as well as international markets.

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