Gujarat Kidney and Super Speciality IPO Details, Price Band, GMP, Dates

Founding and History

Gujarat Kidney and Super Speciality Limited was founded in 2019 by Dr. Pragnesh Yashwantsinh Bharpoda, along with Dr. Bhartiben Pragnesh Bharpoda, Dr. Yashwantsingh Motisinh Bharpoda, and Anitaben Yashwantsinh Bharpoda. The company was originally incorporated as Vihaan Medicare Private Limited with the objective of building a specialised healthcare institution focused on kidney care and critical medical services. The founders, all closely associated with medical practice and hospital operations, identified a gap in advanced treatment facilities in non-metro regions of Gujarat.

The early direction of the company was centred on creating a doctor-led hospital model offering super-speciality services at affordable costs. In 2023, the company renamed itself to Gujarat Kidney and Super Speciality Private Limited, aligning its identity with its core healthcare offerings. Later in the same year, it was converted into a public limited company as part of its long-term growth and capital-raising strategy. Key milestones include the expansion of hospital operations across multiple cities and the acquisition of existing hospitals to rapidly scale capacity and service reach.

Business Model

Gujarat Kidney and Super Speciality Limited operates as a hospital-led healthcare services provider. The company owns and operates multi-speciality and super-speciality hospitals that deliver inpatient, outpatient, surgical, and critical care services. Its value chain covers patient consultation, diagnostics, treatment, surgery, recovery, and follow-up care, all delivered within its hospital network.

The business follows a fully offline, asset-heavy hospital model, where revenue is generated directly from patient services rather than intermediaries. A key operating strength is its doctor-driven management structure, where promoters and senior doctors are actively involved in clinical and operational decisions. This allows tighter control over service quality, cost structures, and patient outcomes, creating a sustainable hospital operations model.

Brand and Market Positioning

The company is positioned as a trusted regional super-speciality hospital network in Gujarat, particularly known for kidney-related treatments and critical care services. Patients perceive the brand as a reliable alternative to large metro hospital chains, offering advanced medical care closer to home.

Compared to competitors, the company benefits from strong local doctor credibility and established hospital infrastructure in tier-2 and tier-3 cities. Its reputation is built on clinical expertise rather than aggressive marketing, which supports patient trust and repeat visits. Strong regional doctor reputation and affordability remain its key branding advantages.

Products and Services

• Nephrology and dialysis services

• Urology treatments and surgeries

• Orthopaedics and trauma care

• Cardiology and critical care services

• General multi-speciality hospital services

Flagship Offerings

The company’s flagship offering is its nephrology and kidney care services, including dialysis and related super-speciality treatments. These services form the backbone of its hospital operations and attract a steady flow of long-term patients requiring recurring care.

The offering stands out due to the availability of specialised doctors, integrated hospital infrastructure, and established dialysis capacity. Entry barriers include high capital requirements, regulatory approvals, specialised medical talent, and long gestation periods to build patient trust. Established kidney care expertise across multiple hospitals gives the company a defensible competitive edge in its core markets.

Revenue Profile

Revenue is primarily generated from hospital services, including inpatient admissions, surgeries, dialysis, diagnostics, and outpatient consultations. The largest contribution comes from super-speciality and critical care treatments, which typically have higher realisation per patient.

Geographically, revenue is concentrated within Gujarat, with contributions from multiple cities rather than a single hospital location. The company largely serves B2C patients, with limited exposure to institutional or insurance-led bulk contracts. Hospital treatment and super-speciality services form the highest revenue segment.

Geographical Footprint

The company operates hospitals and medical centres across Vadodara, Godhra, Bharuch, Borsad, and Anand in Gujarat. These locations allow it to serve a wide regional patient base across central and eastern Gujarat.

Its hospital network includes owned hospitals, subsidiaries, and controlled entities, enabling operational flexibility and faster expansion. There is no export presence, as services are delivered domestically through physical hospital infrastructure. Gujarat remains the core and dominant market for the company.

Management and Promoters

The company is promoted by Dr. Pragnesh Yashwantsinh Bharpoda, who also serves as Chairman and Managing Director. He is supported by Dr. Bhartiben Pragnesh Bharpoda and Dr. Yashwantsingh Motisinh Bharpoda, both of whom bring medical and operational experience. Anitaben Yashwantsinh Bharpoda is also part of the promoter group and contributes to administrative oversight.

The management team includes experienced medical professionals and operational executives responsible for hospital administration, finance, and compliance. Governance is overseen by a structured board and statutory committees, in line with regulatory requirements. Dr. Pragnesh Yashwantsinh Bharpoda remains the key decision-maker driving strategy and expansion.

Corporate Structure

Gujarat Kidney and Super Speciality Limited operates through a mix of subsidiaries and controlled entities. Key subsidiaries include Raj Palmland Hospital Private Limited and Harmony Medicare Private Limited, which operate hospitals in different locations.

In addition, the company controls certain hospital entities through partnership or acquisition arrangements, enabling asset consolidation and service integration. There are no overseas subsidiaries or global branches. Raj Palmland Hospital Private Limited and Harmony Medicare Private Limited are the major operating subsidiaries.

Target Customers

The business primarily follows a B2C healthcare model, catering directly to patients and their families. Its key demographic includes middle-income and upper-middle-income patients seeking specialised treatment without travelling to metro cities.

The company serves patients across nephrology, orthopaedics, trauma, cardiology, and general surgery segments. Spending behaviour is typically need-based rather than discretionary, driven by medical necessity. Patients requiring specialised and long-term medical care form the primary target group.

How the Company Earns

The company earns revenue through direct service fees charged to patients for consultations, diagnostics, surgeries, hospital stays, dialysis, and other treatments. There is no subscription or commission-based model involved.

A portion of revenue is recurring in nature due to repeat dialysis sessions and follow-up treatments. However, earnings are largely linked to hospital occupancy, treatment complexity, and patient volumes. Hospital service fees remain the primary earning channel.

Market Position

Gujarat Kidney and Super Speciality Limited is a regionally significant healthcare player within Gujarat’s super-speciality hospital segment. While it does not compete nationally with large hospital chains, it holds a strong position in its operating regions.

Its multi-city presence and focus on kidney care provide a competitive advantage over single-location hospitals. The company continues to expand capacity through acquisitions and operational integration. A strong regional hospital network in Gujarat defines its current market position.