Sakhiya Skin Clinic IPO: What We Know So Far, Before Any Price Band Has Been Set

Quick Answer

Sakhiya Skin Clinic, a Surat-based dermatology and cosmetology chain with 35 clinics across 24 cities, has filed its draft paperwork for an SME IPO but hasn't yet announced a price band, opening date, or lot size. It's too early to say whether this will be worth applying for since there's no price to weigh against the business yet, but the underlying growth is genuinely strong and worth knowing about ahead of time: revenue up over 55% and profit nearly tripling across the last two reported years, in a business that combines clinical dermatology services with its own branded skincare product line.

Key Details at a Glance

What Does Sakhiya Skin Clinic Ltd Do?

Picture someone visiting a dermatology clinic for a laser hair reduction session, or booking a pre-bridal skincare package ahead of a wedding. Sakhiya Skin Clinic runs the kind of clinic network built around exactly that range of services. You can track this and other IPO GMP data on the IPO GMP Live homepage.

Originally incorporated in Ahmedabad in 2011, the company operates a genuinely wide service menu across its 35 clinics in 24 cities, covering acne treatment and scar removal, laser hair reduction, pigmentation and anti-ageing treatments, Botox and fillers, chemical peels, skin tightening, tattoo removal, pre-bridal packages, and cosmetic plastic surgeries. Beyond the clinical side, the company has also built its own product business, marketing dermatologist-formulated skincare and haircare products under the "Dr. Sakhiya" brand, giving it a second revenue stream that can scale somewhat independently of physical clinic visits.

How Strong Are the Financials?

The growth here has been genuinely strong and consistent. Revenue moved from Rs 34 crore in FY23 to Rs 44 crore in FY24 to Rs 53 crore in FY25, and profit grew even faster, from Rs 3.66 crore to Rs 7.65 crore to Rs 10.92 crore over the same three years, a roughly 43% jump in the most recent year on about 21% revenue growth. That pattern, profit growing meaningfully faster than revenue, suggests the clinic network has been getting more efficient as it's scaled, a genuinely encouraging sign for a healthcare services business expanding its physical footprint.

What Would the IPO Money Be Used For?

Based on the DRHP as filed, the clear majority of the fresh issue proceeds, Rs 42.58 crore, is earmarked for establishing new clinics across various regions in India, directly funding the kind of network expansion that's likely driven much of the recent growth. A further Rs 9.65 crore would go toward the company's subsidiary, Dr. Sakhiya's Advanced Skin Science LLP, presumably supporting the branded product side of the business, with Rs 3.20 crore for debt repayment and a smaller Rs 0.89 crore for technology upgrades. This is a use-of-proceeds table clearly weighted toward physical expansion, consistent with a company that's grown its clinic count as a core part of its recent growth story.

What to Watch For Once Pricing Is Announced

Since there's no price band yet, a should-you-apply verdict isn't possible in the usual sense, that will depend entirely on where the company and its lead manager decide to price the issue relative to this growth trajectory. Worth watching once that information lands: how the market values a dermatology and cosmetology chain expanding primarily through new clinic openings, a segment with real competition from both larger hospital-linked dermatology chains and smaller independent clinics; and how the offer for sale portion, benefiting the two promoter sellers directly, is received alongside the fresh issue that actually funds the company's own expansion plans.

Contact Details

Company: Sakhiya Skin Clinic Ltd.

Location: Surat, Gujarat

Business: Dermatology, cosmetology, and aesthetic treatment clinics, alongside a branded skincare and haircare product line ("Dr. Sakhiya")

Registrar: KFin Technologies Ltd.

Lead Manager: GYR Capital Advisors Pvt. Ltd.

Listing: BSE, SME platform (dates not yet announced)

This page is not investment advice. No price band or IPO dates have been announced yet for this issue; details here are based on the company's draft prospectus and are subject to change before the final offer document is filed. Please consult a SEBI registered financial advisor before investing once pricing is confirmed.