Galaxy Medicare Limited IPO
Galaxy Medicare Limited was incorporated on July 23, 1992 in Bhubaneswar, Odisha, as a public limited company under the Companies Act, 1956. Founded by Mr. Dillip Kumar Das, the company commenced operations by reviving a closed unit acquired from IDCO and Odisha State Financial Corporation under IPICOL’s investment promotion strategy.
Business Activities
The company is engaged in manufacturing, trading, and exporting of medical devices and surgical dressings. Its key operations include:
1. Manufacturing & Branding under flagship brands like POP BAND, POP CAST, G CAST, GYPSOSOFT, CARETAPE, CARECREPE, CAREPORE, GYPSONET, FIXCAN, etc.
2. OEM Services – sourcing, designing, manufacturing, and testing for other brand owners.
3. Institutional Sales – supplying to government departments via tenders and GEM portal.
4. Exports – catering to international markets such as Bangladesh and Nepal.
5. Domestic Trading of medical devices and surgical products.
Products & Trademarks
Company specializes in Plaster of Paris Bandages (POP Bandage), medical tapes, surgical dressings, and a wide range of wound care and wound management products. The company holds 27 registered trademarks in India under various brand names, reflecting its strong market presence. Its products are widely supplied to Central and State Government Health Departments, Corporate Hospitals, and private healthcare providers across India, ensuring extensive reach and reliability.
Market Presence
Galaxy Medicare Limited enjoys a strong domestic presence with well-established client relationships across India. The company has also built a growing export network in Bangladesh, Nepal, and other international markets, further strengthening its global footprint. Recognized by the medical fraternity for its innovation and quality, Galaxy Medicare continues to be a trusted name in the field of medical devices and surgical dressings.
Competitive Strengths
i) Experienced leadership and skilled management team.
ii) Strong reputation and long-term customer relationships.
iii) Global presence with wide product acceptance.
iv) Well-established manufacturing facility catering to diverse medical products.
v) Robust in-house R&D, QA, and QC functions to ensure product effectiveness and safety.
Objects of the Galaxy Medicare Limited IPO:
Galaxy Medicare Limited IPO Details:
| Open Date: | Sep 10 2025 |
| Close Date: | Sep 12 2025 |
| Total Shares: | 41,32,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 22.31 Cr. |
| Lot Size: | 2000 Shares |
| Issue Price: | ₹ 51-54 Per Equity Share |
| Listing At: | NSE Emerge |
| Listing Date: | Sep 17 2025 |
Promoters And Management:
Financials of Galaxy Medicare Limited IPO:
| Particulars | FY2024-2025 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations | 39.20 | 36.15 | 31.20 |
| EBITDA | 4.58 | 5.26 | 3.13 |
| EBITDA Margins | 11.69% | 14.56% | 10.05% |
| PAT | 3.37 | 3.7 | 1.57 |
| PAT Margins | 8.59% | 10.23% | 5.03% |
| ROCE | 22.38% | 25.17% | 14.08% |
| Debt to Equity Ratio(In Times) | 0.25 | 0.52 | 0.77 |
| Operating Cash Flows | 4.48 | 2.7 | 3.65 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Galaxy Medicare | 39.20 | 11.69% | 8.59% | 22.38% | 0.25 | 81.92 | 24.31 |
| Adeshwar Meditex Limited | 83.71 | 5.28% | 2.47% | 8.27% | 0.34 | 26 | 13.1 |
| KMS Medisurgi Limited | 13.9 | 7% | 3.16% | 8.02% | 0.11 | 41.8 | 94.9 |
Lead Manager of Galaxy Medicare Limited IPO:
Registrar of Galaxy Medicare Limited IPO:
Discussion on Galaxy Medicare Limited IPO:
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