Galaxy Medicare Ltd IPOGML

The IPO opens on 10 Sept 2025 & closes on 12 Sept 2025.

Galaxy Medicare Limited was originally established on July 23, 1992 as a Limited Company in the Mancheshwar Industrial area of Bhubaneswar, Orissa. The Company commenced its operations in 1992 when the founder, Mr. Dillip Kumar Das, acquired a closed business unit, M/s Cure Aids Private Limited from Odisha Industrial Infrastructure Development Corporation (IDCO) and Odisha State Financial Corporation under the investment promotion, facilitation and aftercare strategy of Industrial Promotion and Investment Corporation of Odisha (IPICOL) and revived the business unit to start manufacturing of Medical Devices such as Plaster of Paris Bandage (POP Bandage), Medical Tapes and Bandages, Other surgical dressings and external preparations products of Wound care & Wound management including sterile surgical wound dressing, medical disposable, adhesive bandages, absorbent gauze, etc. In 1995, a United Kingdom based Company, selected this Company exclusively as their business partner for manufacturing of their globally renowned Plaster of Paris Bandage B.P. under the brand name 'GYPSONA,' in facilities for the regions of India, Sri Lanka, Bangladesh, and Nepal which continued till 1999, when they shifted manufacturing of Plaster of Paris Bandage B.P. to their own facility in Maharashtra. In 2002, Company entered into a partnership with the Indian subsidiary of a Fortune 50 Company of USA with exclusive rights for manufacturing and supply of Plaster of Paris Bandage B.P under brand name of '3M CAST' and Elastic Adhesive Bandage to them and this business partnership continued uninterruptedly. The Company commenced manufacturing of Sterile Gauze Dressings, by enhancing the production as part of its expansion strategy in 2006. In 2009, it expanded the production activities to include Elastic Adhesive Bandage B.P. At present, Company is into manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India. The business encompass manufacturing of own products under the brands of GYPSOPLAST, GYPSONET, CAREPORE, fixcan, etc. Institutional sale to various Government Department through participation in tenders on platforms like GEM Portal; Trading of medical device and other surgical dressings and exporting of manufactured product to international markets. The Company is planning to make an Initial Public Offering of 44,40,000 Equity Shares of Rs 10/- each comprising a fresh issue of 35,52,000 Equity Shares and 8,88,000 Equity Shares through Offer for Sale.

Galaxy Medicare Ltd IPO will close on 12 Sept 2025.

<ul><li>Organizational stability along with management expertise.</li><li>Established reputation and customer relationships.</li><li>Focus on consistently meeting quality standards.</li><li>International Presence.</li><li>Well Established Manufacturing Facility designed for wide range of products.</li><li>Experienced Management Team and a motivated and efficient workforce.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Dillip Kumar Das</td> <td>2111202</td> <td>17.8</td> <td>1287202</td> <td>8.48</td> </tr> <tr> <td>2</td> <td>Subhasish Das</td> <td>759342</td> <td>6.4</td> <td>759342</td> <td>5</td> </tr> <tr> <td>3</td> <td>Kiran Das</td> <td>175578</td> <td>1.48</td> <td>175578</td> <td>1.16</td> </tr> <tr> <td>4</td> <td>D.K Das & Sons HUF</td> <td>2455194</td> <td>20.61</td> <td>2455194</td> <td>16.18</td> </tr> <tr> <td>5</td> <td>Industrial Designs and Service</td> <td>1957800</td> <td>16.5</td> <td>1957800</td> <td>12.9</td> </tr> <tr> <td>6</td> <td>Geetishree Das</td> <td>1534003</td> <td>12.93</td> <td>1534003</td> <td>10.11</td> </tr> <tr> <td>7</td> <td>Oricon Industries Private Limi</td> <td>613599</td> <td>5.17</td> <td>613599</td> <td>4.04</td> </tr> <tr> <td>8</td> <td>Paramita Das</td> <td>357501</td> <td>3.01</td> <td>357501</td> <td>2.36</td> </tr> <tr> <td>9</td> <td>Anindita Das</td> <td>519999</td> <td>4.38</td> <td>519999</td> <td>3.43</td> </tr> <tr> <td>10</td> <td>Debasis Das & Sons (HUF)</td> <td>143001</td> <td>1.21</td> <td>143001</td> <td>0.94</td> </tr> <tr> <td>11</td> <td>Lopa Das</td> <td>364221</td> <td>3.07</td> <td>364221</td> <td>2.4</td> </tr> <tr> <td>12</td> <td>Debasis Das</td> <td>292500</td> <td>2.47</td> <td>292500</td> <td>1.93</td> </tr> <tr> <td>13</td> <td>Anshuman Das</td> <td>170898</td> <td>1.44</td> <td>170898</td> <td>1.13</td> </tr> <tr> <td>14</td> <td>Subhasish Das (HUF)</td> <td>156207</td> <td>1.32</td> <td>156207</td> <td>1.03</td> </tr> <tr> <td>15</td> <td>Aditya Das</td> <td>211431</td> <td>1.78</td> <td>211431</td> <td>1.39</td> </tr> </tbody> </table>

<ul><li>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.</li><li>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.</li><li>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.</li><li>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.</li><li>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.</li><li>The company is dependent on its promoters and senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect of the business, results of operations, financial condition and cash flows.</li><li>The Proliferation of Look-alike Products in the Market poses a risk on its reputation and brand name.</li><li>The company derives a substantial amount of its revenue from exports and the exports is exposed to potential financial, economic, political and other risks of international markets.</li><li>Its cost of production is exposed to fluctuations in the prices of the major raw material.</li><li>Any delay, interruption or reduction in the supply of raw materials to manufacture of the products may adversely affect its business, results of operations, cash flows and financial condition.</li><li>The Company operations requires significant amount of working capital for a continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.</li><li>Significant portion of the revenue has been generated from Western part of India, any loss of business from these states may adversely affect its revenues and profitability.</li><li>There is certain discrepancies/errors noticed in some of the corporate records relating to forms filed with the Registrar of Companies and other provision of Companies Act, 1956/2013. Any penalty or action takes by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.</li><li>The Promoters, of whom Dillip Kumar Das, is also a Selling Shareholder, has subscribed to, and purchased, Equity Shares, at a price which could be below the Offer Price. The average cost of acquisition of Equity Shares by its Promoters could also be lower than the Offer Price.</li><li>The company has certain contingent liabilities that has not been provided for in the Company's financials which if materialised, could adversely affect its financial condition.</li><li>The Company has in the past entered into related party transactions and may continue to do so in the future.</li><li>Dependence on a Key Managerial Personnel Who is of Advanced Age May Adversely Affect the Continuity of Our Business Operations.</li><li>High Attrition Rates in Previous Financial Years May Affect Workforce Stability and Institutional Knowledge Retention.</li><li>We face foreign exchange risks that could adversely affect our results of operations, further having an impact on our cash flows and our financial results may fluctuate.</li><li>The geographic concentration of the Company's supplier network may result in supply constraints if regional disturbances occur.</li><li>We are dependent on third-party transportation providers for the supply of materials for our manufacturing process and delivery of our finished products. If we are required to expend considerable resources in addressing our distribution requirements, it could adversely affect our results of operations.</li><li>Our business requires us to obtain and renew certain licenses and permits from government and regulatory authorities, the failure to obtain or renew them in a timely manner may adversely affect our business operations.</li><li>We have taken guarantees from Promoters and members of Promoter Group in relation to debt facilities provided to us.</li><li>Industry information included in this Red Herring Prospectus has been derived from various websites. The Reliability on the forecasts of the reports could be incorrect and would significantly impact our operation.</li><li>The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution.</li><li>There is no monitoring agency appointed by our Company and the deployment of funds are at the discretion of our Management and our Board of Directors, though it shall be monitored by the Audit Committee.</li><li>We generally do business with our customers on short term order basis and do not enter into long- term contracts with most of them.</li><li>High Attrition Rates in Previous Financial Years May Affect Workforce Stability and Institutional Knowledge Retention.</li><li>Product Quality and Compliance Failures in Our Medical Device Manufacturing Operations Could Result in Returns, Reputational Harm, and May Adversely Affect Our Financial Performance.</li><li>The occurrence or perception of significant adverse effects from our products may influence customer trust and could have financial and operational implications.</li><li>Products that do not comply with health and safety standards may be subject to recalls or restrictions, which could affect our business operations.</li><li>Our operations may be subject to product scrutiny and the approval processes, which could influence the timing or outcome of certain business activities.</li><li>Inability to Raise Capital for Proposed Capital Expenditure May Adversely Affect Our Business, Financial Condition and Growth Prospects.</li><li>Our Promoters, Directors, Key Managerial Personnel and members of Senior Management are interested in our Company other than reimbursement of expenses or normal remuneration or benefits which may result in a conflict of interest with us.</li><li>We are significantly dependent on the sale of products. An inability to anticipate or adapt to evolving up gradation or inability to ensure product quality or reduction in the demand of such products may adversely impact our revenue from operations and growth prospects.</li><li>Our business will suffer if we fail to keep pace with rapid changes in technology and the industries on which we focus</li><li>Our operations may be adversely affected in case of industrial accidents, physical hazards and similar risks at our construction sites, which could expose us to material liabilities, loss in revenues and increased expenses.</li></ul>

The Issue type of Galaxy Medicare Ltd is Book Building - SME.

The minimum application for shares of Galaxy Medicare Ltd is 4000.

The total shares issue of Galaxy Medicare Ltd is 4132000.

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.