KRM Ayurveda IPO Update: Live Subscription & Listing Strategy for 2026
With the KRM Ayurveda IPO now open (Jan 21–23, 2026), this updated guide covers the current 16% Grey Market Premium (GMP), the ₹20.82 crore raised from anchor investors, and the company's aggressive pivot toward global telemedicine. Here is everything you need to know about the subscription status and the road to the January 29 listing.
Live IPO Tracking Available
Check live GMP, allotment status, and deep analysis for this IPO.
1. Live IPO Status & Subscription Details
The IPO window is now active. Unlike many SME issues that use a fixed price, KRM Ayurveda is a Book Built Issue, allowing investors to bid within a specific price range.
Subscription Period: January 21, 2026 – January 23, 2026.
Price Band: ₹128 to ₹135 per share.
Lot Size: 1,000 shares (Retail requires a minimum of 2 lots / 2,000 shares, totaling ₹2,70,000).
Anchor Round: The company successfully raised ₹20.82 crore on January 20 from institutional investors, signaling strong professional interest before the public launch.
2. Updated IPO Timeline (Key Dates)
| Event | Date |
|---|---|
| IPO Closes | Friday, January 23, 2026 (5:00 PM) |
| Allotment Basis | Tuesday, January 27, 2026 |
| Refunds/Credit of Shares | Wednesday, January 28, 2026 |
| Listing Date | Thursday, January 29, 2026 |
| Listing Platform | NSE SME (NSE Emerge) |
3. Grey Market Premium (GMP) & Valuation
As of today, the unofficial GMP stands at approximately ₹21, which is roughly 16% above the issue price.
Estimated Listing Price: ~₹156 per share.
P/E Ratio: At the upper price band of ₹135, the post-issue P/E ratio is roughly 23.73x.
Peer Comparison: This is significantly more attractive than its listed peers like Jeena Sikho Lifecare (P/E ~76x) and Vaidya Sane (P/E ~93x), suggesting a potential "valuation gap" that could benefit early investors.
4. Deep Dive: The Telemedicine Pivot
A significant portion of the ₹77.49 crore proceeds (₹13.67 Cr) is earmarked for a unified Telemedicine Operational Facility.
Global Outreach: The company is moving away from being purely a "hospital chain" to a "digital healthcare provider."
The "AyuKarma" Brand: Proceeds will also fund the expansion of their D2C (Direct-to-Consumer) brand, which currently sells over 300 Ayurvedic products globally.
5. Essential Risk Factors to Monitor
Geographical Bias: Over 60% of revenue still comes from Delhi and Haryana. Success depends on the telemedicine platform's ability to diversify this.
Staff Turnover: Historically, the company had high attrition (78% in FY24), though it improved to 31% in FY25. Consistency in medical staff is vital for patient trust.
Insurance Cycles: About 15–20% of their revenue is tied to insurance providers with 150-180 day payment cycles, which can strain cash flow.
6. Final Verdict: Subscribe or Avoid?
Subscribe for Listing Gains: With a 16% GMP and reasonable valuation compared to peers, there is a strong case for short-term gains.
Hold for Long Term: If you believe in the "Atmanirbhar" push for Ayurveda and the scalability of digital health, the company's 15.8% PAT margin and 67% ROE make it a solid long-term contender in the wellness space.