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Gamp Services IPO

Yet to be determined Compliance and Validation ServicesMainboard

IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

To be announced

Investor category and sub category

About Gamp Services IPO

The company provides compliance, validation, and instrumentation solutions to businesses operating in regulated industries, primarily life sciences and high-tech manufacturing. Incorporated in 2020, it helps manufacturers ensure that their facilities, equipment, utilities, and computerised systems function as intended and meet applicable regulatory and quality requirements.

Business Verticals

Its business operates through 3 verticals:

  • Services: Provides thermal validation, commissioning, qualification and validation, cleanroom validation, computer system validation, data integrity, and bio-decontamination services. These help manufacturers meet quality standards during facility setup, operations, maintenance, and requalification.
  • Distribution: Supplies specialised instruments and technology solutions sourced from global original equipment manufacturers (OEMs). These instruments support testing, monitoring, measurement, and validation activities.
  • Data Logger Manufacturing: Started in FY27, this business manufactures devices that record and monitor parameters such as temperature and humidity over time.

The company serves industries including pharmaceuticals, biotechnology, medical devices, food and beverages, semiconductors, aerospace and defence, electric vehicles, and renewable energy.

It also offers access to Facility One, a software platform developed by its subsidiary, for centralised environmental monitoring and data management. The company has exclusive rights to use the platform in connection with its data loggers.

Through these businesses, the company combines technical services, instrumentation supply, and monitoring solutions to address customers' compliance requirements.

Gamp Services IPO Objectives

The company plans to utilise ₹4,005.34 lakh to purchase equipment and IT hardware for its Services and Data Logger Manufacturing businesses, including thermal validation systems, data loggers, particle counters, and bio-decontamination equipment.

The company intends to increase its capacity to handle multiple customer assignments simultaneously and expand its cleanroom validation, clean utility testing, and thermal validation services across industries such as semiconductors, aerospace, defence, and food and beverages.

A portion of the proceeds will be used to strengthen IT infrastructure, improve the secure storage and tracking of validation data, and support paperless execution of service assignments.

The company plans to fund potential acquisitions to expand its service offerings, customer base, technological capabilities, and geographical presence, although the specific acquisition targets have not yet been identified.

The remaining proceeds will be allocated towards general corporate purposes, subject to applicable SEBI regulations and the prescribed limits on the combined allocation for acquisitions and general corporate purposes.

Industry Outlook

Manufacturers must demonstrate that their facilities, equipment, utilities, and computerised systems consistently meet applicable quality and regulatory standards. Moreover, validation requirements extend beyond initial facility setup to periodic reviews, revalidation, equipment modifications, and remediation. This is driving the demand for validation and compliance services.

  1. The Indian validation services market grew from USD 479 million in CY20 to USD 790 million in CY25, registering a CAGR of 10.5%. It is projected to reach USD 1.29 billion by CY30, with a modelled CAGR of 10.3%.
  2. The global portable temperature and humidity data logger market was valued at approximately USD 2–3 billion in CY25 and is estimated to reach USD 3–4 billion by CY30, implying an approximate CAGR of 8%, as per the CARE Report cited in the company's prospectus.
  3. Connectivity, remote data transmission, and centralised monitoring platforms are expanding the role of data loggers beyond standalone recording devices. Digital solutions can support data integrity, traceability, and regulatory oversight.

Financial Performance of Gamp Services Limited

Financial Metric 

Unit 

FY24 

FY25 

FY26 

Q1 FY27 

Revenue from Operations 

₹ Lakhs 

1,909.38 

3,569.46 

4,581.37 

1,945.85 

Revenue Growth 

% 

N.A. 

86.94% 

28.35% 

N.A. 

EBITDA 

₹ Lakhs 

441.91 

1,123.49 

1,518.35 

795.88 

EBITDA Margin 

% 

23.14% 

31.48% 

33.14% 

40.90% 

Restated Profit After Tax (PAT) 

₹ Lakhs 

304.47 

795.29 

1,096.77 

580.76 

Note: FY refers to the financial year ending March 31. Q1 FY27 covers the three months ended June 30, 2026. Q1 FY27 figures are for a three-month period and are not directly comparable with full-year figures. 

Strengths and Opportunities for Gamp Services 

  1. Promoters have 19–27 years of experience in compliance, validation and instrumentation, supported by a technically qualified workforce. 

  1. The company serves 464 customers across India and 18 export markets, with several customer relationships spanning over 6 years. It is also an authorised partner for 9 global OEMs. 

  1. It offers end-to-end validation and compliance services, including thermal validation, cleanroom validation, computer system validation, bio-decontamination, and GMP consulting. 

  1. Long-standing customer relationships and OEM partnerships support cross-selling of instrumentation, calibration, validation and related services. 

  1. Revenue from operations grew at a CAGR of 54.90% between FY24 and FY26, while EBITDA and profit for the year recorded CAGRs of 85.36% and 89.80%, respectively. 

  1. PAT margin increased from 15.95% in FY24 to 23.94% in FY26, supported by operational improvements and cost optimisation. 

Risks and Threats for Gamp Services 

  1. The pharmaceutical industry contributed 85.64%, 87.39%, 87.02% and 86.96% of revenue from operations in Q1 FY27, FY26, FY25 and FY24, respectively, exposing the company to industry-specific risks. 

  1. The Services vertical contributed 62.73% of revenue in Q1 FY27, compared with 71.34% in FY26, 72.67% in FY25 and 77.76% in FY24, making financial performance sensitive to demand for validation and compliance services. 

  1. The top 10 suppliers accounted for 95.82% of total purchases in Q1 FY27, 92.83% in FY26, 96.00% in FY25 and 95.59% in FY24, increasing the risk of supply disruptions if key suppliers are unable to meet requirements. 

  1. Foreign suppliers among the top 10 accounted for 89.37% of total purchases in Q1 FY27, 87.82% in FY26, 84.52% in FY25 and 88.53% in FY24, exposing the company to international supply chain disruptions, trade policy changes and foreign exchange fluctuations. 

  1. The top 10 customers contributed 47.99% of revenue in Q1 FY27, 42.00% in FY26, 47.96% in FY25 and 46.41% in FY24, making revenue vulnerable to the loss of major customers or a reduction in their orders. 

  1. The Distribution business contributed 35.95% of revenue in Q1 FY27, up from 28.66% in FY26, 27.33% in FY25 and 22.24% in FY24. Its reliance on nine global OEM partners, without exclusive distribution arrangements, exposes the company to the risk of termination, non-renewal or changes in partnership terms. 

Gamp Services IPO Reservation

Investor Category 

Shares Offered 

QIB 

Not less than 75% of the Net Offer 

Retail 

Not more than 10% of the Net Offer 

NII 

Not less than 15% of the Net Offer 

Gamp Services IPO Promoter Holding 

The promoters of the company are: Girish Agrawal, Sanjeevkumar Patel, and Gaurav M Shah. 

Category 

Pre-IPO 

Post-IPO 

Promoter and Promoter Group 

99.99% 

69.32% 

Gamp Services IPO Registrar and Lead Managers 

Gamp Services IPO Lead Managers 

Valmiki Leela Capital Pvt.Ltd.  

Registrar for Gamp Services IPO   

  • Name: Bigshare Services Pvt.Ltd.   

  • Phone: 8657578989   

  • Email ID: ipo@bigshareonline.com 

How To Check the Allotment Status of the Gamp Services IPO? 

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials. 

  1. Locate the IPO Section: Navigate to the 'IPO' section on the platform. 

  1. Select IPO: Find and select the Milky Mist Ltd. IPO from the list of open IPOs. 

  1. Enter the Lot Size: Specify the number of lots you want to bid for. 

  1. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 

  1. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Apply for Gamp Services IPO Online? 

Steps to check IPO allotment status on Angel One’s app: 

  1. Log in to the Angel One app. 

  1. Go to the IPO Section and then to IPO Orders. 

  1. Select the individual IPO that you had applied for and check the allotment status. 

  1. Angel One will notify you of your IPO allotment status via push notification and email. 

Contact Details of Gamp Services IPO   

Address: 303-304, Sahyog Elina, Chintamani Society, VIP Road, Karelibaug, Vadodara, Gujarat, 390018 

Phone: 8200658238 

Email ID: cs@gampservices.com 

  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Login to Angel One App / Website & click on IPO

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Select desired IPO & tap on "Apply"

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Enter UPI ID, set quantity/price & submit

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Accept mandate on the UPI app to complete the process

Gamp Services IPO FAQs

The Gamp Services IPO is a book-building mainboard public offering proposed for listing on NSE and BSE. The company provides compliance, validation and instrumentation solutions, primarily serving life sciences and high-tech manufacturing industries. Its IPO dates, issue size, price band, lot size and minimum investment are yet to be announced. 

The bidding dates are yet to be announced.  

Listing gains cannot be predicted in advance. They depend on market demand, subscription levels, and overall investor sentiment on the listing day. 

1. Multiple Submissions: Use different Demat accounts to make multiple applications.  

2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.  

3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

No. Only one application per PAN is allowed in an IPO. 

You can access the company’s financials by downloading the DRHP document here. 

The registrar is Bigshare Services Pvt.Ltd. They are responsible for allotment and investor grievance handling.  

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