New Delhi, Feb. 24 -- Gaudium IVF and Women Health Ltd, a New Delhi in-vitro fertilization, or IVF, clinic that is set to cross Rs.100 crore revenues soon, is tapping India's public markets.

The bootstrapped venture by a physician couple plans an initial public offer of 11.3 million shares potentially raising nearly Rs.90 crore at the upper end of the price band of Rs.75-79 apiece indicated in the offer prospectus.

The document, however, also discloses a series of arrangements between the company and its founder-promoter Dr Manika Khanna that skirt the edges of poor corporate governance even while being above board in law, experts point out.

These intra-group arrangements cover professional fees paid to Dr Manika and her husband Dr Pee...