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KRM Ayurveda IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
KRM Ayurveda Limited, incorporated in 2019, operates in the Ayurvedic healthcare and wellness space. The company runs a network of Ayurvedic hospitals and clinics offering treatments, consultancy, and wellness solutions. It earns revenue through in-patient and out-patient services, Panchakarma therapies, sale of Ayurvedic medicines, wellness packages, and teleconsultation services. The company focuses on chronic lifestyle and metabolic disorders using classical Ayurvedic formulations and personalized care.
KRM Ayurveda, an Book Built Issue, amounting to ₹
77.49 Crore,consisting entirely an Fresh Issue of
0.57 crore shares of ₹
77.49 Crore,The subscription period for the KRM Ayurveda IPO opens on January 21, 2026, and closes on January 23, 2026. The allotment is expected to be finalized on or about Tuesday, January 27, 2026, and the shares will be listed on the NSE SME with a tentative listing date set on or about Thursday, January 29, 2026,
The Share Price Band of KRM Ayurveda IPO is set at ₹128 to ₹135 per share per equity share. The Market Capitalisation of the KRM Ayurveda at IPO price of ₹135 per equity share will be ₹287.02 Cr The lot size of the IPO is 1000 shares. Retail investors are required to invest a minimum of ₹
270,000 2 lots ( 2000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3000 shares), amounting to ₹
405,000.
NEXGEN Financial Solutions Pvt. Ltd are the book running lead manager of the KRM Ayurveda Ltd. while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue,The Market Maker of the company is NNM Securities Pvt.Ltd.
KRM Ayurveda Limited IPO GMP Today
The Grey Market Premium of KRM Ayurveda IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
KRM Ayurveda Limited IPO Live Subscription Status Today: Real-Time Update
As of 06:30 PM on 23 January 2026, the KRM Ayurveda IPO live subscription status shows that the IPO subscribed 74.27 times on its Final Day of subscription period. Check the KRM Ayurveda IPO Live Subscription Status Today at BSE.
KRM Ayurveda Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
KRM Ayurveda IPO allotment date is Tuesday, January 27, 2026,, KRM Ayurveda IPO Allotment will be out on Tuesday, January 27, 2026,, and will be live on Registrar Website from the allotment date.
Skyline Financial Services Pvt.Ltd. IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select KRM Ayurveda IPO from the dropdown list of IPO
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of KRM Ayurveda Limited IPO
KRM Ayurveda to utilise the Net Proceeds towards the following objects:
1. ₹1,510.79 Lakh is required for Funding of Working Capital requirements
2. ₹161.27 Lakh is required for Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles
3. ₹300.00 Lakh is required for Pre-payment/re-payment of, in part or full, certain outstanding borrowings of our Company
4. General Corporate Purposes.
Refer to KRM Ayurveda Limited RHP for more details about the Company.
KRM Ayurveda Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| January 14, 2026 | ₹ 135 | ₹ 135 | ₹0(0.0%) | 14 January 2026; 03:07 PM |
KRM Ayurveda IPO Details
| Market Capitalization | ₹287.02 Cr |
| IPO Date | January 21, 2026 to January 23, 2026 |
| Listing Date | January 29, 2026 |
| Face Value | ₹10 Per Share |
| Price Band | ₹128 to ₹135 |
| Issue Price | ₹135 per share |
| Employee Discount | NA |
| Lot Size | 1000 Equity Shares |
| Total Issue Size | 57,40,000 Equity Shares (aggregating to ₹77.49 Cr) |
| Fresh Issue | 57,40,000 Equity Shares (aggregating to ₹77.49 Cr) |
| Offer for Sale | NA |
| Issue Type | Book Built Issue |
| Listing At | NSE SME |
| Share holding pre issue | 1,55,20,800 |
| Share holding post issue | 2,12,60,800 |
| Rating | Avoid |
KRM Ayurveda IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
KRM Ayurveda IPO Timeline (Tentative Schedule)
| IPO Open Date | Wed, Jan 21, 2026 |
| IPO Close Date | Fri, Jan 23, 2026 |
| Basis of Allotment | Tue, Jan 27, 2026 |
| Initiation of Refunds | Wed, Jan 28, 2026 |
| Credit of Shares to Demat | Wed, Jan 28, 2026 |
| Listing Date | Thu, Jan 29, 2026 |
| Cut-off time for UPI mandate confirmation | Tue, Jan 27, 2026 |
KRM Ayurveda IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 2,658,000 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 797,400 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 1,860,600 | Not more than 35% of the Net Offer |
| Market Maker Portion | 424,000 | - |
KRM Ayurveda IPO Promoter Holding
| Share Holding Pre Issue | 92.16% |
| Share Holding Post Issue | 67.28% |
KRM Ayurveda IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹270,000 |
| Retail (Max) | 2 | 2,000 | ₹270,000 |
| S-HNI (Min) | 3 | 3,000 | ₹405,000 |
| S-HNI (Max) | 7 | 7,000 | ₹945,000 |
| B-HNI (Min) | 8 | 8,000 | ₹1,080,000 |
KRM Ayurveda IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 10,32,000 | 6,53,38,000 | 63.31x | 24 January 2026; 10:22 AM |
| Non Institutional Investors(NIIS) | 7,80,000 | 10,55,85,000 | 135.37x | 24 January 2026; 10:22 AM |
| Retail Individual Investors (RIIs) | 18,12,000 | 9,82,22,000 | 54.21x | 24 January 2026; 10:22 AM |
| Total | 36,24,000 | 26,91,45,000 | 74.27x | 24 January 2026; 10:23 AM |
About KRM Ayurveda Limited
KRM Ayurveda Limited, incorporated in 2019, operates in the Ayurvedic healthcare and wellness space. The company runs a network of Ayurvedic hospitals and clinics offering treatments, consultancy, and wellness solutions. It earns revenue through in-patient and out-patient services, Panchakarma therapies, sale of Ayurvedic medicines, wellness packages, and teleconsultation services. The company focuses on chronic lifestyle and metabolic disorders using classical Ayurvedic formulations and personalized care.
Key Clients and Manufacturing / Operational Facilities
KRM Ayurveda primarily serves individual patients across India and overseas through teleconsultation. Its facilities include 6 hospitals and 5 clinics located in cities such as Delhi, Noida, Mumbai, Patna, and Lucknow. These facilities are equipped with consultation chambers, Panchakarma units, herbal pharmacies, diet kitchens, yoga and meditation halls, and in-patient beds, enabling integrated Ayurvedic healthcare delivery.
Product Portfolio, Order Book & Execution
The company’s portfolio includes Ayurvedic treatments, Panchakarma therapies, wellness programs, diet and lifestyle counselling, and trading of Ayurvedic medicines, oils, and supplements. These products address chronic diseases like kidney disorders, diabetes, arthritis, and liver ailments across patient life cycles. Orders are executed through hospitals, clinics, and telemedicine platforms, ensuring continuous patient engagement and repeat treatment-based revenue.
Mergers, Capex & Expansion Plans
KRM Ayurveda has converted from a private to a public limited company in December 2024 to support future growth. The company plans expansion through the establishment of new hospitals and clinics, capacity enhancement, and technology-driven teleconsultation services. Proposed capital expenditure will focus on infrastructure development, service expansion, and strengthening its pan-India and global digital healthcare presence.
Employees and Banker to the Company
As on December 31, 2025, the Company had 443 employees. The Banker to the Company is ICICI Bank Limited.
KRM Ayurveda is led by experienced promoters and professional management with deep expertise in Ayurvedic healthcare. The management aims to scale operations through hospital and clinic expansion, digital healthcare delivery, and product portfolio growth. Short-term focus includes strengthening operational efficiency and profitability, while long-term goals include becoming a leading Ayurvedic healthcare brand. Capex and expansion will be funded through IPO proceeds, internal accruals, and optimized debt management.
INDUSTRY OVERVIEW
KRM Ayurveda operates in the AYUSH and Ayurvedic healthcare industry. The Indian AYUSH market is valued at USD 43.4 billion and is expected to grow to USD 200 billion by 2030, indicating nearly 8x growth. The industry recorded a CAGR of 31.47% from 2014–15 to 2020. Ayurveda manufacturing alone is projected to grow from USD 18 billion (2020) to USD 24 billion by 2024. India exports AYUSH products worth USD 1.54 billion to over 150 countries, highlighting strong global demand.
KEY RISK FACTORS
- Regulatory Risk
The company operates in a regulated healthcare environment. Any adverse changes in AYUSH regulations, licensing norms, or compliance requirements could impact hospital operations, service delivery, and expansion plans. - Dependence on Skilled Professionals
KRM Ayurveda’s business depends heavily on qualified Ayurvedic doctors and therapists. Shortage, attrition, or inability to retain skilled professionals may affect service quality and patient trust. - Competition Risk
The Ayurvedic healthcare sector is highly competitive, with increasing participation from hospitals, wellness centers, and large healthcare groups. This may impact pricing power and market share. - Geographic Concentration Risk
A significant portion of operations is concentrated in select Indian cities. Any regional disruptions, policy changes, or demand slowdown may adversely affect revenues. - Technology & Data Security Risk
The company relies on third-party CRM and HMS software systems. Any data breach, system failure, or cyber security issue could disrupt operations and harm reputation.
SECTION 5: KEY STRENGTHS, MOAT & OPPORTUNITIES
- Integrated Ayurvedic Healthcare Model
KRM Ayurveda offers end-to-end services including hospitals, clinics, medicines, and teleconsultation, creating a strong integrated healthcare ecosystem and patient retention advantage. - Strong Financial Performance
The company reported ₹76.95 crore revenue in FY25 with EBITDA margin of 27.74% and PAT margin of 16.60%, reflecting operational efficiency and improving profitability. - High-Growth Industry Tailwinds
With the Indian AYUSH market expected to grow to USD 200 billion by 2030, the company is well-positioned to benefit from rising demand for natural and holistic healthcare. - Teleconsultation & Global Reach
Telemedicine services enable KRM Ayurveda to serve international and remote patients, improving scalability and reducing dependence on physical infrastructure. - Specialization in Chronic Disorders
Focus on chronic and lifestyle diseases such as kidney disorders, diabetes, and arthritis ensures repeat treatments, long patient life cycles, and stable revenue streams. - Government Support for AYUSH
Strong government backing through the Ministry of AYUSH and national programs provides long-term policy support, funding opportunities, and industry credibility.
KRM Ayurveda Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 2,060.73 | 2,372.58 | 1,162.85 | 821.63 |
| Total Assets | 7,811.89 | 6,678.57 | 4,391.10 | 3,947.53 |
| Total Borrowings | 2,506.50 | 3,120.01 | 2,317.50 | 1,987.41 |
| Fixed Assets | 2,658.98 | 2,655.46 | 2,287.44 | 2,335.73 |
| Cash | 109.11 | 204.05 | 50.33 | 23.00 |
| Cash flow from operating activities | 304.16 | -2.86 | -89.46 | 350.92 |
| Cash flows from investing activities | -27.30 | -433.51 | -12.61 | -2,293.84 |
| Cash flow from financing activities | -371.80 | 590.08 | 129.38 | 1,947.45 |
| Net Borrowing | 2,397.39 | 2,915.96 | 2,267.17 | 1,964.41 |
| Revenue | 4,865.43 | 7,694.97 | 6,757.17 | 8,937.59 |
| EBITDA | 1,283.41 | 1,910.90 | 733.66 | 1,102.82 |
| PAT | 813.92 | 1,209.72 | 341.22 | 759.80 |
| PAT Margin | 16.73% | 15.72% | 5.05% | 8.50% |
| EPS | 5.24 | 8.06 | 2.27 | 5.07 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 8.06 |
| EPS Post IPO (Rs.) | 5.69 |
| Adjusted 12M EPS Post IPO (Rs.) | 7.66 |
| P/E Pre IPO | 16.75 |
| P/E Post IPO | 23.73 |
| Adjusted 12M P/E Post IPO | 17.63 |
| ROE | 67.86% |
| ROCE | 43.33% |
| P/BV | 5.27 |
| Debt/Equity | 1.31 |
| RoNW | 67.86% |
| EBITDA Margin | 24.96% |
| PAT Margin | 15.72% |
KRM Ayurveda Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| KRM Ayurveda | 5.69 | 23.73 | 67.86% | 43.33% | 5.27 | 1.31 | 67.86% |
| Jeena Sikho Lifecare | 36.50 | 22.02 | 37.9 % | 50.2 % | 25.6 | 0.30 | 33.00% |
| Vaidya Sane Ayurved Laboratories | 4.66 | 65.02 | 13.6 % | 18.4 % | 3.89 | 0.01 | 9.67% |
KRM Ayurveda Limited Contact Details
KRM Ayurveda Limited
Phone: +91- 9289101700
Email: compliance@krmayurveda.com&
Website: http://www.krmayurvedaindia.com
KRM Ayurveda IPO Registrar and Lead Manager(s)
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
Phone: +91-11-40450193-197
Email: grievances@skylinerta.com
Website: http://www.skylinerta.com/
NEXGEN Financial Solutions Pvt. Ltd.
Phone: +91 11 41407600
Email: ipo@nexgenfin.com
Website: http://www.nexgenfin.com
KRM Ayurveda IPO Review
KRM Ayurveda Limited, incorporated in 2019, operates in the Ayurvedic healthcare and wellness space. The company runs a network of Ayurvedic hospitals and clinics offering treatments, consultancy, and wellness solutions. It earns revenue through in-patient and out-patient services, Panchakarma therapies, sale of Ayurvedic medicines, wellness packages, and teleconsultation services. The company focuses on chronic lifestyle and metabolic disorders using classical Ayurvedic formulations and personalized care.
The Company is led by Promoter, i.e.,MR. PUNEET DHAWAN AND MRS. TANYA DHAWAN
The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 4,865.43 Lakh, ₹ 7,694.97 Lakh, ₹ 6,757.17 Lakh, and ₹ 8,937.59 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,283.41 Lakh, ₹ 1,910.90 Lakh, ₹ 733.66 Lakh, and ₹ 1,102.82 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 813.92 Lakh, ₹ 1,209.72 Lakh, ₹ 341.22 Lakh, and ₹ 759.80 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 8.06 and post-issue EPS of ₹ 5.69 for FY25. The pre-issue P/E ratio is 16.75x,while the post-issue P/E ratio is 23.73x against the Industry P/E ratio is 43.52x The company's ROE for FY25 is 67.86% and RoNW is 67.86% The Annualised EPS is ₹ 7.66x and P/E is 17.63x, These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of KRM Ayurveda showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the KRM Ayurveda Limited. IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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