Gujarat Kidney And Superspeciality Limited filed a regulatory disclosure pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular CIR/CFD/CMD1/162/2019 dated December 24, 2019.

The company confirmed that during the Second Quarter and three months' period ended September 30, 2026, there was no deviation and approved variations in the utilization of proceeds from its Initial Public Offer (IPO) from the objects stated in the Prospectus dated December 24, 2025.

Key Financial Details

  • IPO Date: December 24, 2025
  • Amount Raised: ₹250.80 crore
  • Monitoring Agency: Brickwork Ratings India Private Limited
  • Reporting Period: Quarter ended September 30, 2026

Variation Details

While there was no deviation, the company reported a variation in fund utilization that was approved by shareholders through a Special Resolution passed by Postal Ballot on August 22, 2026.

The variation involved reallocation of funds originally earmarked for "Funding of capital expenditure requirements" toward "Healthcare expansion including new infrastructure, modern equipment, and more facilities in Subsidiaries and Parent Company, including acquisition of 51% stake in Blue Tree Clinics LLC, Dubai, UAE."

Fund Utilization Breakdown

| Original Object | Modified Object | Original Allocation (₹ Cr) | Modified Allocation (₹ Cr) | Amount Utilized (₹ Cr) | Unutilized Amount as on 01.10.2026 (₹ Cr) |

| Proposed acquisition of Parekh Hospital at Ahmedabad | NA | 77.00 | 77.00 | NA | 0 |

| Part-payment of purchase consideration for already acquired Ashwini Medical Centre | NA | 12.40 | 12.40 | NA | 0 |

| Acquisition of additional shareholding in subsidiary Harmony Medicare Private Limited at Bharuch | NA | 10.78 | 10.78 | NA | 0 |

| Funding of capital expenditure requirements | Healthcare expansion including new infrastructure, equipment, facilities, and acquisition of 51% stake in Blue Tree Clinics LLC, Dubai | 30.10 | 17.92 | 7.23 | 17.92 |

| Buying robotics equipment for hospital | Setting up and operating dialysis services through deployment of dialysis machine and digital patient monitoring solution | 6.83 | 6.83 | NA | 0 |

| Full or part repayment of outstanding secured borrowings | NA | 1.20 | 1.20 | NA | 0 |

| Funding inorganic growth through unidentified acquisitions and General Corporate Purposes | NA | 87.44 | 87.44 | NA | 0 |

| Issue Expenses | NA | 25.05 | 24.63 | NA | 0.42 |

Governance and Compliance

The Audit Committee of the Company reviewed this statement at its meeting held on November 4, 2026, and had no comments. The auditors also had no comments on the variation.

The variation was implemented pursuant to changes approved by shareholders and is aligned with the company's main IPO object of healthcare expansion.