KRM Ayurveda, which operates a network of multispecialty hospitals and clinics across India and serves international patients through teleconsultations, launched its public issue this morning. As of the afternoon of Monday, January 19, 2026, the issue is seeing early traction from retail and institutional investors.

The IPO is entirely a fresh issue of 57.40 lakh shares. The proceeds are earmarked for several strategic goals: ₹13.67 crore for developing new telemedicine facilities, ₹22.90 crore for working capital to support its growing operations, and ₹12.50 crore for the repayment of existing debt.

Market sentiment is cautiously optimistic. The Grey Market Premium (GMP) is currently trading at ₹15, indicating a potential listing gain of approximately 11% over the upper price band. The company has shown significant financial recovery, with Profit After Tax (PAT) surging from ₹3.41 crore in FY24 to ₹12.10 crore in FY25.

Key IPO Details & Timetable

*Note: Due to the price per share, the minimum retail application for this SME IPO is 2,000 shares (2 lots).

Important Note for Investors

• High Efficiency: The company has seen its hospital bed occupancy rate jump from 18% in FY23 to 85% in FY25, signaling strong demand for its specialized Ayurvedic treatments (particularly for kidney and chronic disorders).

• Strategic Shift: KRM has successfully pivoted from being purely product-focused (93% of revenue in FY23) to a balanced model where healthcare services now contribute nearly 50% of the revenue, which typically offers higher margins.

• Geographical Risk: Investors should be aware that roughly 68% of the revenue is derived from just two states—Delhi and Haryana—making the company vulnerable to regional policy changes.

• Attrition Challenge: The company reported a very high employee attrition rate of 78% in FY24, which improved to 31% in FY25. Maintaining a stable team of BAMS doctors and therapists remains a key operational risk.