Gaudium IVF deployed Rs 50.652 crore of IPO proceeds by September 2026

Gaudium IVF and Women Health Limited deployed Rs 50.652 crore of gross fresh-issue IPO proceeds by September 30, 2026, including Rs 18.0737 crore for identified loan repayment, while Rs 39.8804 crore remained unutilised. The balance included Rs 53.15 lakh of net fixed-deposit interest and was principally held in HDFC Bank fixed deposits.

How much of Gaudium IVF's IPO proceeds were used?

Gaudium IVF had used Rs 50.652 crore of its Rs 90.0008 crore gross fresh IPO proceeds by September 30, 2026. This comprised Rs 42.9331 crore deployed towards net IPO objects and Rs 7.7189 crore of fresh-issue expenses, all of which had been utilised by June 30, 2026. During the quarter ended September 30, 2026, the company used Rs 16.6197 crore, compared with Rs 34.0323 crore cumulatively used up to June 30, 2026.

Gaudium IVF completed its IPO in financial year 2025-26 through a fresh issue of 1,13,92,500 equity shares aggregating Rs 90.0008 crore and an offer for sale of 94,93,700 shares aggregating Rs 75.0002 crore. Only the fresh issue created proceeds for company use. The shares were listed on the National Stock Exchange of India Limited and BSE Limited on February 27, 2026, at an issue price of Rs 79 per share.

Where did Gaudium IVF deploy its IPO proceeds?

Gaudium IVF had cumulatively spent Rs 13.4848 crore on capital expenditure for new in-vitro fertilisation, or IVF, centres by September 30, 2026. It used Rs 12.4553 crore on this object during the September quarter, following Rs 1.0295 crore of spending up to June 30, 2026. The original Rs 50 crore allocation for new centres was unchanged, leaving Rs 36.5152 crore unutilised at September 30.

General corporate purposes accounted for Rs 11.3746 crore of cumulative deployment, including Rs 4.1644 crore in the September quarter and Rs 7.2102 crore up to June 30, 2026. The available allocation for this object was Rs 14.2082 crore after a reallocation approved in August, leaving Rs 2.8337 crore. The IPO-utilisation table did not provide a line-item breakdown of spending within general corporate purposes.

Did Gaudium IVF complete the IPO-funded loan repayment?

Yes, Gaudium IVF repaid Rs 18.0737 crore of identified borrowings by June 30, 2026, and stated that no such borrowings remained outstanding at that date. The loan repayment or prepayment object was therefore fully achieved before the quarter ended September 30, 2026, when the company reported no further spending under this object.

The initial allocation for repayment was Rs 20 crore, leaving Rs 1.9263 crore after the identified loans were fully repaid. On the Audit Committee's recommendation, the Board approved moving that surplus to general corporate purposes on August 13, 2026. The revised loan-repayment allocation became Rs 18.0737 crore, while the general-corporate-purpose allocation increased from Rs 12.2819 crore to Rs 14.2082 crore.

Gaudium IVF's consolidated balance sheet reported current borrowings of Rs 4.7987 crore at September 30, 2026, down from Rs 23.0748 crore at March 31, 2026. That comparison covers the broader balance-sheet category of current borrowings, whereas the IPO disclosure specifically identifies Rs 18.0737 crore as repayment of the designated borrowings.

Where is Gaudium IVF's unspent IPO balance held?

Gaudium IVF held Rs 39.8804 crore of unutilised IPO proceeds in two fixed deposits and two current accounts at September 30, 2026. The amount consisted of Rs 39.3489 crore of unspent gross fresh proceeds plus Rs 53.15 lakh of net interest earned on fixed deposits after applicable taxes.

The two HDFC Bank fixed deposits totalled Rs 39.50 crore, while the two current accounts totalled Rs 38.04 lakh. Separately, Gaudium IVF reported Rs 97.29 lakh of fixed-deposit interest in other income for the quarter ended September 30, 2026. The Rs 53.15 lakh included in the unutilised-proceeds balance is a net-of-tax figure, so it is disclosed on a different basis.

What is Gaudium IVF's plan for the remaining centre-expansion funds?

Gaudium IVF plans to use the remaining Rs 36.5152 crore allocated for new IVF centres while retaining the Rs 50 crore allocation for that object. Its proposed variation changes or substitutes six of the 19 cities or locations identified in the prospectus and revises the schedule and manner of establishing the centres. The filing states that the amount earmarked for centre expansion will not change.

The proposed revised timetable indicates all 19 centres will be established by financial year 2028-29, with 10 centres in financial year 2026-27, eight in financial year 2027-28 and one in financial year 2028-29. This is an indicative plan rather than a record of centres opened by September 30, 2026. At that date, the Rs 13.4848 crore spent on new centres represented the disclosed utilisation against the Rs 50 crore allocation.

Gaudium IVF reported a single business segment, the health care business, under Indian Accounting Standard 108 on operating segments. The filing also said IPO proceeds had been used for the purposes stated in the offer document, with the centre-expansion programme constituting the largest remaining specified deployment.

Conclusion

Gaudium IVF had deployed Rs 50.652 crore of Rs 90.0008 crore gross fresh IPO proceeds by September 30, 2026. The completed Rs 18.0737 crore repayment of identified loans and Rs 13.4848 crore directed to new-centre capital expenditure account for most of the disclosed deployment, while Rs 39.8804 crore remained available, mainly in fixed deposits.

The next disclosed milestone is the indicative plan to establish 19 IVF centres by financial year 2028-29, including 10 centres in financial year 2026-27. Subsequent filings can show deployment of the remaining Rs 36.5152 crore centre-expansion allocation, use of the Rs 2.8337 crore general-corporate-purpose balance, and progress on the proposed changes to six locations.