Key Quantitative Figures

  • Total IPO Proceeds Raised: ₹250.80 crore
  • Total Utilized Proceeds as of 28.05.2026: ₹212.62 crore (84.78% utilization)
  • Unutilized Balance Available: ₹37.76 crore
  • Breakdown of Unutilized Funds:
  • Healthcare expansion in Bharuch: ₹25.14 crore
  • Funding inorganic growth: ₹12.62 crore
  • Proposed Reallocation:
  • ₹6.12 crore to be invested in subsidiary Raj Palmland Hospital Private Limited for new infrastructure, equipment, and IVF facility
  • ₹16.64 crore to be transferred to "Funding inorganic growth through unidentified acquisitions and general corporate purposes"
  • Total funds under acquisitions object after transfer: ₹31.64 crore

Detailed IPO Proceeds Utilization (as of 29/05/2026)

| Sr. No | Objects of IPO | Proposed Utilization (₹ Cr) | Amount Utilized (₹ Cr) | Balance Available (₹ Cr) |

| 1 | Proposed acquisition of Parekhs Hospital at Ahmedabad | 77.00 | 77.00 | 0.00 |

| 2 | Part-payment of purchase consideration for already acquired Ashwini Medical Centre | 12.40 | 12.40 | 0.00 |

| 3 | Acquisition of additional shareholding in Harmony Medicare Private Limited | 10.78 | 10.78 | 0.00 |

| 4 | Healthcare expansion aligned with company's main IPO object | 25.14 | 0.00 | 25.14 |

| 5 | Setting up and Operating Dialysis services with Lord's Mark Industries Limited | 6.825 | 6.825 | 0.00 |

| 6 | Repayment/prepayment of secured borrowings | 12.00 | 12.00 | 0.00 |

| 7 | Funding inorganic growth and general corporate purposes | 12.62 | 0.00 | 12.62 |

Timeline and Voting Details

  • Cut-off Date for Eligibility: Friday, May 29, 2026
  • E-voting Commencement: 09:00 AM IST on Friday, June 05, 2026
  • E-voting Conclusion: 05:00 PM IST on Saturday, July 04, 2026
  • Result Declaration: Within 2 working days after e-voting conclusion
  • Deemed Passing Date: July 04, 2026 (if approved by requisite majority)

Service Providers

  • Registrar and Transfer Agent: MUFG Intime India Private Limited
  • Scrutinizer: M/s SPANJ & Associates, Practicing Company Secretaries (FRN: P2014GJ034800)
  • Voting Platform: InstaVote (https://instavote.linkintime.co.in)

Reason for Variation

The company states that incorporating a new wholly-owned subsidiary in Bharuch would result in duplication of efforts and investments, requiring local staff and longer time to build goodwill and branding. Instead, investing in existing subsidiary Raj Palmland Hospital Private Limited will save costs, avoid equipment duplication, and generate returns on investment faster.

Financial Impact Assessment

The company states that the proposed variation does not involve additional fund raising and will not result in any immediate material impact on earnings. However, deployment of funds is expected to contribute positively towards operational efficiency and financial flexibility in the ordinary course of business.

Documents Availability

The postal ballot notice and explanatory statement are available on the company's website (www.gujaratsuperspecialityhospital.com), MUFG's website (https://instavote.linkintime.co.in), and stock exchange websites (BSE and NSE). Documents can be inspected electronically without fee until July 04, 2026.

Interested Parties

Ms. Anita Bharpoda (Director of Gujarat Kidney Super Speciality Limited and Raj Palmland Hospital Private Limited) and Mr. Jagdish Thakkar (Independent Director) are concerned or interested in the resolution. All other Directors and Key Managerial Personnel have declared no interest.

Risk Factors

  • Delays in construction or securing approvals/permits
  • Difficulties in coordinating corporate and administrative functions
  • Challenges in procuring equipment or recruiting healthcare professionals
  • Unforeseen legal, regulatory, contractual, labor or other issues