Gaudium IVF plans to open 19 centres over two years

Fertility healthcare services provider Gaudium IVF, which recently debuted on the domestic exchanges, plans to open 19 new centres over the next two years. The Delhi-based Gaudium IVF was listed on February 27, 2026, after raising ₹165 crore through its initial public offering, becoming India’s first publicly listed IVF chain.

In an exclusive interview with Fortune India, chairperson and managing director, Manika Khanna, said the company has already begun executing its expansion plans, with a roadmap to open 19 new IVF centres over the next two years.

“Our primary focus remains IVF expansion. We are known for clinical excellence and as an SOP-driven organisation, and we are committed to maintaining that while continuing to innovate,” Khanna said.

“On the expansion front, work has already begun on a couple of new centres. We have outlined plans to open 19 IVF centres over the next two years, and execution has already started,” she added.

She further added that the new centres will be rolled out in a phased manner—around nine each in the first two years and a couple more in the third year, taking the timeline through FY29.

As per the company, the expansion will be funded in part through IPO proceeds, with about ₹50 crore earmarked for setting up new facilities.

The company, in its IPO documents, stated that of the ₹90 crore raised through fresh equity, ₹50 crore will be used to set up 19 new IVF centres, while ₹20 crore will go towards debt repayment and general corporate purposes. The remaining ₹75 crore was an offer for sale (OFS), with proceeds going to the selling shareholder.

Expansion-led growth strategy

Currently, the company operates seven hubs - full-fledged IVF centres with advanced labs - and 29 spokes, which are smaller centres spread across tier 2 and tier 3 cities.

The model allows patients to undergo most of their treatment at nearby spokes, travelling to hubs only for critical procedures. This keeps the business asset-light while maintaining clinical quality.

Going forward, the company plans to add 19 new hubs and scale up spokes proportionately, typically maintaining a ratio of four spokes per hub.

Gaudium said its expansion will largely follow an asset-light approach, with most centres set up on leased premises. The company has also significantly deleveraged post-listing, with outstanding debt reduced to about ₹2 crore.

Focus on AI-led differentiation

Alongside physical expansion, the company is doubling down on technology to sharpen its competitive edge. It has introduced AI-powered tools such as Sid and Erica - developed by IVF 2.0 and customised for Indian patients - to improve embryo and sperm selection during IVF procedures.

According to the company, these tools analyse multiple parameters in milliseconds, helping identify the healthiest embryos and improving success rates. Higher success rates, in turn, are expected to drive strong word-of-mouth referrals—a key growth lever in the fertility business.

The aggressive expansion comes amid a vast untapped opportunity. India sees an estimated 3 lakh IVF cycles annually, but only about 2% of the infertile population currently seeks treatment, highlighting significant headroom for growth.

While metros remain key markets, the company is targeting deeper penetration into tier 2 and tier 3 cities, where awareness and access to fertility treatments remain limited.

On Monday, shares of Gaudium IVF and Women Health were trading 2.35% higher at ₹79.14 on the BSE, at par with its IPO price of ₹79.