Galaxy Medicare Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹54
Per ShareLot Size
2000 Shares
Minimum Investment
₹1,08,000
Issue Size
₹22.31 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
58.82%
QIB Quota
2.04%
NII Quota
39.14%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Galaxy Medicare Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.57%
Promoter Holding (Post-Issue)
72.49%
Issue Type
Book Building - SME
ISIN
INE09A801015
About the Company
Our Company Galaxy Medicare Limited is into the manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India.
Industry Overview
The global plaster bandages market size was USD 8.8 Billion in 2023 and is projected to reach USD 14.9 Billion by 2032, expanding at a CAGR of 5.60% during 2024-2032. The market growth is attributed to the growing demand for effective healing solutions. Increasing demand for effective wound care solutions is underscoring the importance of plaster bandages. These medical products, which provide support and protection to injured body parts, are a staple in healthcare settings worldwide. Plaster bandages find unique application in the field of prosthetics beyond their traditional role in fracture management, where they are used to create molds for prosthetic limbs, and in the arts, where they serve as a tool for creating sculptures and casts. In 2024, the revenue in the Wound Care market worldwide amounts to US$3.44bn. This market is projected to grow annually by 0.40% (CAGR 2024-2029). Among all countries, the in the United States generates the highest revenue with US$1,052.00m in 2024. In terms of per person revenues, the global average is US$0.44 in 2024. The Indian medical tapes and bandages market was valued at INR 2,296 crore in 2021 which is expected to reach INR 3,362 crore in 2028 at a CAGR of 5.8%. Medical POP Bandage, adhesive tapes and bandages are designed for a variety of healthcare applications. It is used to secure wound care dressing, secure wounds and skin, compression bands, and other healthcare devices. The medical tapes and bandages are an essential part of any medical procedure. The growth of the market is attributed to the rising cases of burning and road accidents. Medical tapes and bandages are widely used for traumatic wound treatment in India, which was valued at INR 996 crore in 2021 and is predicted to reach INR 1,424 crore by 2028 at a CAGR of 5.4%. Traumatic wounds comprise skin tears, lacerations, abrasions, bites, and penetrating trauma wounds. Several wound tapes are available for traumatic wound treatment such as Curi-strip, Nichi-Strip, Steri-Strip, and 3M Steri-Strip. The other segment includes IV site dressings, fractures, and diagnostic use. This segment is expected to grow fastest during the forecast period from Rs. 57 crore in 2021 to Rs. 88 crore by 2028 at a CAGR of 6.6%.
Company History
Our Company was originally incorporated as "Galaxy Medicare Ltd" on July 23, 1992 at Bhubaneswar, Orissa as a Limited Company under the Companies Act, 1956 with the Registrar of Companies, Cuttack, Odisha bearing Registration Number 003113 of 1992. The Corporate Identification Number of our Company is U24232OR1992PLC003113.
Products & Services
- Galaxy Medicare Limited is into the manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India.
Growth Strategy
- Building our relationship with industry leading OEM's i.e. Principal to Principal and diversifying our customer base by expanding our business in medical device and surgical dressings products.
- Strengthening our business through effective branding, promotional and digital marketing activities.
- Focus on Increase in Products range and Volume of Sales.
- Reduction of operational costs and achieving efficiency.
- Focus on consistently meeting quality standards.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 41,32,000 equity shares of face value of Rs. 10/- each ("equity shares") of the company for cash at a price of Rs. 54/- per equity share (including a share premium of Rs. 44/- per equity share) ("offer price") aggregating up to Rs. 22.31crores (the "offer") comprising a fresh issue of up to 33,08,000 equity shares aggregating up to Rs. 17.86.crores by the company (the "fresh issue") and an offer for sale of up to 8,24,000 equity shares aggregating up to Rs. 4.45 crores by the promoters selling shareholder, (the "offered shares") (the "offer for sale" and together with the fresh offer, the "offer") of which upto 2,08,000 equity shares aggregating to Rs. 1.12 crores will be reserved for subscription by market maker to the offer (the "market maker reservation portion"). The offer less market maker reservation portion i.e., net offer of upto 39,24,000 equity shares at an offer price of Rs. 54/- per equity share aggregating to Rs. 21.19 crores is hereinafter referred to as the "net offer". The offer and the net offer will constitute 27.23% and 25.86%, respectively of the post offer paid up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Organizational stability along with management expertise.
- Established reputation and customer relationships.
- Focus on consistently meeting quality standards.
- International Presence.
- Well Established Manufacturing Facility designed for wide range of products.
- The company is supplying to certain key customers, from whom its derives a significant portion of the company revenues. The loss of any significant customer may have a material and adverse effect on its business and results of operations.
- The comapny is highly dependent on its suppliers for uninterrupted supply of Raw-Materials. Any shortfall in the supply of the raw materials, or an increase in its raw material costs and other input costs, may adversely affect the pricing and supply of the products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
- The Company, the Directors, and the Promoters is parties to certain legal proceedings. Any adverse decision in such proceedings may have adverse effect on its business, prospects, results of operations and financial condition.
- There have been instances of delay in filing of Goods and Service Tax (GST) returns, Employee State Insurance (ESI) Returns, return of Tax Deducted at Source (TDS) dues and in payment of Provident Fund dues.
- Inventories and trade receivables form a major part of the current assets. Failure to manage the company inventory and trade receivables could has an adverse effect on its net sales, profitability, cash flow and liquidity.