Galaxy Medicare IPO

The Galaxy Medicare IPO is a book-built issue of a fresh issue and OFS to total up to about ₹22.31 crore (at a price band of ₹51–₹54), open for subscription from September 10 to 12 and will list on NSE Emerge. The issue consists of a fresh issue of up to ₹16.74 crore and an offer for sale of up to ₹4.45 crore. Investors have to bid for a minimum of 4,000 shares, with a net minimum bid quantity being ₹2.16 lakh on the upper price band. The IPO has Affinity Global Capital Market as the book-running lead manager and the registrar is Cameo Corporate Services.

Company Background

Galaxy Medicare was established in 1992, at Bhubaneswar, Odisha and is in the business of manufacturing and trading of medical consumables primarily in the areas of wound care and surgical dressings such as POP bandage, Adhesive tapes, compression bandage, Absorbent gauze, sterile dressings and other disposables. The company was born out of the recovery and rehabilitation of a closed-down unit and has more than thirty years of experience in this field, serving hospitals and distributors throughout India. The company highlights quality certifications and adherence to ISO standards for medical devices, with a product basket aligned to routine hospital consumables and orthopedics, reflecting a stable, recurring-demand category.

Operations & Product Range

Facility & Production

Galaxy Medicare IPO operates from its state-of-the-art plant at Mancheswar Industrial Estate, Bhubaneswar, well equipped with in-house weaving, coating, impregnation, slitting, cutting, packaging and sterilizing operations, as appropriate, started from 1992 and keeps concentrating on wound care and dressings based on standardized SOPs and QA protocols within ISO models. The range covers pop bandages, sterile surgical wound dressings, adhesive tapes, absorbent gauze and cotton, compression/ orthopedic bandages and other hospital consumables, with an emphasis on uniform specifications and patient comfort.

Brands & Market Presence

Galaxy Medicare trades under its own company brand name in India, serves hospitals, clinics and channel partners with its presence in online B2B directories as well as healthcare portals that have listed it as a manufacturer of dressings & wound care products. The company claims pan-India coverage, reinforcing a product portfolio grown on quality and adherence. Public documents and postings reveal the brand’s ties to Odisha’s health care manufacturing ecosystem and outreach to distributors and institutions through traditional medical supply networks.

Revenue Channels

• The main source of market revenue is the sale of wound care consumables and surgical dressings (POP bandages, gauze, adhesive tapes, compression bandages) within hospitals, clinics and to distributors.
• Institutional orders through tenders and rate contracts with government and private healthcare systems provide volume visibility and recurring demand.
• Product extensions to orthopedic supports and disposables, connect basket depth and increase cross-sell in the same purchase channels.
• Exporting leads and B2B directory listing help support the additive out-of-state and international sales and qualify with buyers using ISO certifications.

Management & Shareholding

Promoters & Shareholding

The Galaxy Medicare IPO has promoters Dilip Kumar Das (Chairman & MD), Subhasish Das and Kiran Das, who have spearheaded an operations and strategy business that spanned several decades. The IPO is a mix of primary issuance along with an OFS, which suggests that there would be a calibrated offering and partial monetisation, but without hampering the effectiveness of the promoter control post-listing.

Board Members

The board of Galaxy Medicare IPO is a combination of promoter-directors and professionals who look after manufacturing, quality, finance and compliance, as per SME listing norms. Affinity Global Capital Market Pvt. Ltd. is the BRLM, with Cameo Corporate Services serving as registrar, showing a set of seasoned intermediaries associated with the offer.