Gujarat Kidney And Superspeciality Limited has officially confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). This statement pertains to the second quarter and the cumulative period ending September 30, 2026. The company assures stakeholders that the proceeds have been used strictly in accordance with the objects outlined in its prospectus dated December 24, 2025. The Audit Committee has reviewed and approved this confirmation.
IPO Fund Utilization Confirmation for Q2 2026
Gujarat Kidney And Superspeciality Limited has provided a detailed statement confirming the precise utilization of funds raised via its Initial Public Offer (IPO). In compliance with SEBI regulations, the company has assured that no deviation or unapproved variation has occurred in the application of these funds. This confirmation specifically covers the period of the Second Quarter and the three months ended September 30, 2026.
Adherence to Prospectus Objectives
The company’s statement, made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights strict adherence to the objectives set forth in the IPO prospectus. This document was dated December 24, 2025. The management has confirmed that all expenditures related to the IPO proceeds have aligned with the originally stated purposes, preventing any need for unapproved variations.
Audit Committee Review
This crucial statement regarding the utilization of IPO funds has undergone thorough review by the company’s Audit Committee. The committee met on November 4, 2026, to examine the financial allocations and confirm their compliance. The outcome of this review supports the company’s assertion of no deviation in fund usage for the specified quarter.
Detailed Breakdown of Fund Allocation
The accompanying statement provides a granular breakdown of the IPO funds. Key projects include the Proposed acquisition of Parekh Hospital at Ahmedabad (original allocation: ₹77.00 Cr, utilized: ₹77.00 Cr, unutilized: ₹0) and the Part-payment of purchase consideration for the already acquired Ashwini Medical Centre (original allocation: ₹12.40 Cr, utilized: ₹12.40 Cr, unutilized: ₹0).
Other significant allocations involve the Acquisition of additional shareholding in subsidiary Harmony Medicare Private Limited (original allocation: ₹10.78 Cr, utilized: ₹10.78 Cr, unutilized: ₹0) and Funding of capital expenditure for a new hospital in Vadodara (original allocation: ₹30.10 Cr, utilized: ₹17.92 Cr, unutilized: ₹17.92 Cr). A portion of these funds, ₹7.23 Cr, was allocated for the Acquisition of 51% stake in Blue Tree Clinics LLC, Dubai, UAE.
Furthermore, the company allocated ₹6.83 Cr for Buying robotics equipment for its hospital in Vadodara (utilized: ₹6.83 Cr, unutilized: ₹0) and ₹1.20 Cr for Full or part repayment of certain outstanding secured borrowings (utilized: ₹1.20 Cr, unutilized: ₹0).
The statement also covers Funding inorganic growth through unidentified acquisitions and General Corporate Purposes, with an original allocation of ₹87.44 Cr and utilization of ₹87.44 Cr, leaving ₹0 unutilized. Finally, Issue Expenses were allocated ₹25.05 Cr, with ₹24.63 Cr utilized and ₹0.42 Cr remaining unutilized.
Source: BSE
