KRM Ayurveda shares to list today. GMP indicates healthy premium on debut

Shares of KRM Ayurveda were trading at a grey market premium of around 17% ahead of the company’s listing on the NSE SME platform, indicating positive sentiment among informal market participants despite mixed views on valuation. Based on the upper end of the price band at Rs 135 per share, the GMP of about Rs 23 suggests an implied listing price of around Rs 158, if sentiment holds till debut.

The Rs 77 crore IPO, which was entirely a fresh issue, saw very strong demand across investor categories during the subscription window. The issue was subscribed 74.27 times overall, with non-institutional investors bidding 135.37 times, qualified institutional buyers subscribing 63.31 times, and retail investors subscribing 54.21 times. The strong response was seen as a key factor supporting the grey market premium ahead of listing.

KRM Ayurveda offered shares in a price band of Rs 128 to Rs 135, with the issue priced at the upper end. At the issue price, the company is valued at around Rs 287 crore. The IPO consisted of 57.4 lakh shares, with 51.66 lakh shares offered to the public after accounting for the market maker portion.

The company raised Rs 20.82 crore from anchor investors ahead of the issue, which helped set the tone for subscription. The issue was managed by NEXGEN Financial Solutions, with Skyline Financial Services acting as the registrar.

KRM Ayurveda operates a network of hospitals and clinics focused on Ayurvedic healthcare, along with manufacturing and sale of Ayurvedic and herbal products. As of December 31, 2025, the company operated six hospitals and five clinics across India and had a total workforce of 443 employees. Its business also includes telemedicine consultations and product sales, including overseas markets.

Financially, the company reported a profit after tax of Rs 12.1 crore for FY25 and Rs 8.14 crore for the six months ended September 2025. EBITDA margins stood at 26.54%, while return on net worth was 21.84% as of September 2025.
Proceeds from the IPO are proposed to be used for expansion of telemedicine facilities, technology upgrades, repayment of loans, working capital requirements and general corporate purposes.