Galaxy Medicare Limited IPO Opens on Sep 10, 2025 

Posted By Anagha Sakpal 7 September2025

• Total Issue Size – Up To 41,32,000 Equity Shares of ₹ 10 each 
• Fresh Issue – Up To 33,08,000 Equity Shares 
• Offer For Sale – Up To 8,24,000 Equity Shares 
• IPO Size – ₹ 22.31 Crore (At Upper Price Band) 
• Price Band – ₹ 51 – ₹ 54 Per Share 
• Lot Size – 2,000 Equity Shares 

Mumbai, Sep 08, 2025 – Galaxy Medicare Limited (The Company, Galaxy) is a  manufacturer, trader, and exporter of medical devices, Plaster of Paris (POP) bandages, and  surgical dressings, 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 utilized for funding Capital Expenditure requirement  towards 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 capitalize on market opportunities. The proposed utilization 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.” 

Disclaimer:  

Certain statements in this document that are not historical facts are forward looking  statements. Such forward-looking statements are subject to certain risks and  uncertainties like government actions, local, political or economic developments,  technological risks, and many other factors that could cause actual results to differ  materially from those contemplated by the relevant forward-looking statements. The  Company will not be in any way responsible for any action taken based on such statements  and undertakes no obligation to publicly update these forward-looking statements to  reflect subsequent events or circumstances.