Gaudium IVF IPO raises governance red flags.

Gaudium IVF IPO raises governance red flags. The fast-growing Delhi-based fertility clinic is raising nearly ninety crore rupees through its public offering, but corporate governance experts are flagging multiple concerning arrangements. Founder Dr Manika Khanna extracts value through multiple channels including annual rent of one point two crore for her owned property, professional fees paid to her and her husband, and payments for in-house technology. While technically disclosed and board-approved, these related party transactions concentrate significant value extraction with the promoter. The company also faces multi-crore income tax department claims. Dr Khanna is simultaneously offloading ninety-five lakh shares valued at seventy-five crore, reducing her stake from ninety-nine percent to seventy-one percent post-IPO.