Surgiwear Ltd. IPO Details
Surgiwear was incorporated on July 11, 1990. The company designs, develops, and manufactures a range of surgical products, including disposable drapes, dressings, and implantable devices like hydrocephalus shunts and orthopedic implants. In FY25, it reported operations revenue of Rs 223.97 crore, the highest among its Indian peers
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹7,400.0 M | DRHP DOC |
Surgiwear issue details
Surgiwear IPO issue size is ₹ 7,400.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Surgiwear IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Surgiwear NUMBER OF SHARES ON OFFER
Surgiwear FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 44.6 | 5.6 | 0.9 | -29.2 | 32.0% |
| FY25 | 224.0 | 58.0 | 48.3 | 18.4 | 44.2% |
| FY24 | 168.7 | 22.5 | 53.5 | -15.8 | 32.4% |
| FY23 | 150.9 | 13.5 | 10.3 | -15.6 | 26.5% |
Surgiwear INFORMATION ON IPO ISSUE
About Surgiwear
Surgiwear was incorporated on July 11, 1990. The company designs, develops, and manufactures a range of surgical products, including disposable drapes, dressings, and implantable devices like hydrocephalus shunts and orthopedic implants. In FY25, it reported operations revenue of Rs 223.97 crore, the highest among its Indian peers
Object of the Issue
- Financing the capital expenditure requirements of the company through purchase of machinery for the manufacturing facility located at Shahjahanpur, Uttar Pradesh
- Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company
- General corporate purposes
Surgiwear - PROMOTERS
| Name |
|---|
| Ghanshyam Das Agarwal |
| Renu Agarwal |
| Vinamra Agarwal |
| Rishu Agarwal |
| Ghanshyam Das Agarwal HUF |
Surgiwear - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ghanshyam Das Agarwal | Managing Director & Chairman |
| Renu Agarwal | Executive Director |
| Vinamra Agarwal | Executive Director |
| Rishu Agarwal | Executive Director |
| Pawan Deep Singh | Independent Director |
| Makarand Chaurey | Independent Director |
| Vithika Sharma | Independent Director |
| Rishabh Khanna | Independent Director |
Surgiwear Book Running Lead Managers
Motilal Oswal Investment Advisors Limited
gsl.ipo@motilaloswal.com
Nuvama Wealth Management Limited
gsurgiwear.ipo@nuvama.com
Surgiwear Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Surgiwear Strengths
Diversified product portfolio
The company manufactures surgical and medical implantable devices, including disposable drapes, dressings, and hydrocephalus shunts, serving hospitals and medical institutions. Its diversified product portfolio also includes lumbar drainage systems, cranial fixation devices, and bone cement, generating revenue across multiple medical product categories
Established distribution network
The company has a diversified sales and distribution network across India, including 36 super-stockists and 554 distributors in 23 states and union territories, ensuring broad product accessibility. It maintains long-term relationships with these partners to support effective supply chain management and customer service
Market demand
According to the 1Lattice Report, India’s healthcare sector is growing steadily, driven by hospital expansion, rising insurance coverage, technology adoption, and government support. Surgical implants are projected to grow at a CAGR of 7.6% and medical equipment at 15.9% by FY30, supported by increasing demand, an ageing population, and rising consumer healthcare spending
Surgiwear Risks
Quality & regulatory risks
The company’s business relies on maintaining high quality and regulatory standards for its surgical products and medical implantable devices. Failure to meet these standards could harm product performance, customer trust, and the company’s reputation, operations, and financial condition
Environmental, health & safety risks
The company’s operations are governed by environmental, health, and safety laws in India and involve inherent operational hazards. Compliance with evolving regulations and risks from machinery, chemicals, fires, or equipment failures could increase costs or disrupt operations
Competition
The company operates in a competitive medical devices and surgical implants industry, facing both domestic and international rivals. Increased competition through technology, pricing, or expanded offerings could negatively impact its market share, pricing power, and financial performance
IPO FAQs
The promoters of the company are Ghanshyam Das Agarwal, Renu Agarwal, Vinamra Agarwal, Rishu Agarwal and Ghanshyam Das Agarwal HUF.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.