G. Surgiwear files IPO: ₹3.7 billion fresh issue plus ₹3.7 billion OFS; Motilal Oswal and Nuvama as BRLMs

Structure, use of proceeds, and sector context

G. Surgiwear, a Shahjahanpur-based medical devices maker, has moved to list on the mainboard with a dual-structured offering: a fresh issue to fund capacity expansion, working capital, and partial debt repayment, alongside an OFS enabling shareholder monetization. The company manufactures surgical consumables and implants, aiming to leverage public-market capital to scale product lines and distribution.

The appointment of Motilal Oswal and Nuvama as BRLMs indicates a mainstream book build and wider institutional outreach. Healthcare manufacturing has seen strong investor interest, supported by domestic procurement, import substitution, and rising hospital capex. Post-IPO, governance and compliance upgrades typically improve vendor credentials with large hospital chains and export buyers.

Important points / notable updates

Offer structure: Fresh issue up to ₹3.7 billion; ₹3.7 billion OFS by existing shareholders.

Use of funds: Capacity expansion, working capital, and debt reduction.

Lead managers: Motilal Oswal and Nuvama Wealth as BRLMs.

Sector tailwinds: Healthcare capex, domestic manufacturing push, and export potential.

Listing objective: Scale product portfolio, strengthen distribution, and enhance compliance readiness.

Sources: Draft Red Herring Prospectus (G. Surgiwear Ltd); BSE/NSE IPO filings; Reuters; Business Standard.