KRM Ayurveda
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹128 – ₹135
Lot Size
1000
₹1,35,000
Face Value
₹10
Important Dates
Open Date
21 Jan 2026
Close Date
23 Jan 2026
Allotment
27 Jan 2026
Refund
28 Jan 2026
Listing
29 Jan 2026
About Company
Incorporated on 3 September 2019, KRM Ayurveda Ltd. operates a network of Ayurvedic hospitals and clinics across multiple cities in India and also serves overseas patients through telemedicine consulting and product sales.
The company manufactures Ayurvedic products, herbal and botanical remedies, medicines, supplements and wellness-related items for in-house use and external sales.
As of December 31, 2025, the company operates 6 hospitals and 5 clinics at different locations in India.
Its hospitals and clinics infrastructure includes beds in general wards and premium rooms, Panchakarma treatment units, a herbal pharmacy and medicine preparation unit, Ayurvedic diet kitchens, consultation chambers for Ayurvedic physicians, and in-house yoga and meditation halls.
Service offerings cover in-patient and out-patient care for chronic diseases, lifestyle disorders and rehabilitation, along with preventive and wellness packages.
The company also provides telemedicine consultations and distributes Ayurvedic medicines to domestic and international customers.
As on December 31, 2025, the company has a total of 443 employees across various departments.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Capital expenditure for construction and development of telemedicine operational facilities. | ₹13.67 |
| 2 | Purchase of CRM software and hardware infrastructure. | ₹1.42 |
| 3 | Investment in human resources. | ₹5.44 |
| 4 | Repayment or prepayment of certain borrowings. | ₹12.5 |
| 5 | Funding working capital requirements. | ₹22.9 |
| 6 | General corporate purposes. | – |
Financial Performance
Share Reservations
QIB
25,74,000
Anchor
15,42,000
NII
7,80,000
Retail
18,12,000
Employee
0
Total
57,40,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Significant Profitability Growth
The company demonstrated a massive jump in financial performance, with Profit After Tax (PAT) rising from ₹341.22 lakhs in FY 2023-24 to ₹1,209.73 lakhs in FY 2024-25.
Impact: HighEstablishment of Global Telemedicine Presence
Beyond its domestic network of hospitals and clinics, the company has expanded its reach internationally through telemedicine consulting and sales, integrating traditional Ayurvedic wisdom with modern technology.
Impact: HighHigh Return on Net Worth (RONW)
KRM Ayurveda reported a high Return on Net Worth of 67.86% for FY 2024-25, indicating efficient use of shareholder funds to generate profits.
Impact: HighProperty Ownership Risks
The company's registered office and Delhi hospital premises are not owned by the company but are rented from the Promoter, Mr. Puneet Dhawan, posing a risk of relocation if leases are not renewed.
Impact: LowStrong Digital and Social Media Reach
The company leverages an extensive digital presence with multiple YouTube channels and targeted Google Search/Display ads to drive its D2C (Direct-to-Consumer) segment growth.
Impact: HighSWOT Analysis
AI-generated strategic view
Strengths
- •Network of Ayurvedic hospitals and clinics with integrated treatment, pharmacy and wellness infrastructure.
- •Skilled Ayurvedic physicians and certified therapists ensuring treatment quality.
- •Centralized GMP-style production of Ayurvedic medicines supporting product quality, purity and efficacy.
- •Growing brand recognition with a loyal and repeat customer base.
- •Diversified service mix across treatment, wellness programs and medicinal sales.
- •Leveraging telemedicine and digital channels to extend reach beyond physical locations.
Weaknesses
- •Inconsistent revenue and profit trends between FY23 and FY25 as per analyst review.
- •Significant increase in profitability in the pre-IPO period raising concerns on sustainability.
- •High dependence on borrowings historically, as reflected in debt-to-equity metrics.
- •Concentration of operations in limited geographies compared to pan-India allopathic hospital chains.
Opportunities
- •Rising acceptance of Ayurveda and alternative medicine in India and globally.
- •Ability to scale the hospital and clinic network into new cities using IPO proceeds.
- •Expansion of telemedicine and digital health channels to serve international customers.
- •Development and branding of proprietary Ayurvedic product lines for retail and online distribution.
- •Potential tie-ups with wellness tourism operators and corporate wellness programs.
Threats
- •Regulatory changes in AYUSH and healthcare standards that may increase compliance costs.
- •Competition from established Ayurveda and wellness brands and larger hospital chains entering integrative medicine.
- •Dependence on key medical professionals and therapists for service quality.
- •Macroeconomic slowdown or reduced discretionary spending impacting wellness and elective treatments.
- •Reputational risks related to clinical outcomes and product quality in the healthcare domain.
KRM Ayurveda IPO Peer Comparison
The table below shows peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| KRM Ayurveda Ltd. | 5.24 | 5.24 | 25.64 | 27.13 | 67.86 | Consolidated |
| Jeena Sikho Lifecare Ltd. | 8.86 | 8.86 | 142.24 | 76.58 | 31.28 | Consolidated |
| Vaidya Sane Ayurved Laboratories Ltd. | 3.07 | 3.07 | 59.85 | 93.2 | 5.12 | Consolidated |
KRM Ayurveda - Documents & Links
Registrar
Company contact
KRM Ayurveda Ltd.
Address: A-16, G T Karnal Road, Industrial Area, North West Delhi, New Delhi, 110033
compliance@krmayurveda.comhttp://www.krmayurvedaindia.com/Lead managers
Frequently Asked Questions
Common questions about KRM Ayurveda IPO.