GPT Healthcare Limited

About GPT Healthcare Limited

Incorporated in 1989, GPT Healthcare Limited is one of the main corporate healthcare companies in Eastern India. It operates a chain of mid-sized hospitals under its ILS brand with a focus on secondary and tertiary care. It operates four multispecialty hospitals in Dum Dum and Howrah in West Bengal and Agartala in Tripura. As of 30 September 2023, it has a total capacity of 561 beds. Its comprehensive range of healthcare services includes 35 specialties and super specialties such as diabetology, nephrology, general surgery, and gynaecology along with integrated diagnostic services and pharmacies. 

The hospitals are strategically located in densely populated cities of Kolkata and Howrah with a bed occupancy rate of 59% as of September 2023. It has 1,902 employees, 91 full-time consultants, and 481 visiting consultants as of 30 September 2023. 

Its revenue from operations grew at a CAGR of 14% between FY21 and FY23, and 18% between Q2 FY23 and Q2 FY24. In the same time period, its profit saw a CAGR rise of 22% and 38%, respectively. Moreover, the healthcare delivery market in India is expected to grow at a CAGR of 9% to 11% between FY24 and FY28, which could be beneficial for the company. 

And now, GPT Healthcare Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised from the fresh issue will be utilised for repayment of borrowings and general corporate purposes. Its shares will be listed on the NSE and the BSE.

 Here are key details about the GPT Healthcare Limited IPO:

Financial snapshot

Here’s a quick look at GPT Healthcare Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)

Strengths and opportunities

1. Key healthcare company in an underpenetrated market of eastern India which has a concentration of 5 doctors per 10,000 individuals according to the CRISIL report of 2020. 
2. Strategically located hospitals based on the needs of the sub-region leading to a high return on capital. 
3. Diversified mix of multispeciality services as well as association with consultant doctors to ensure holistic expertise. 
4. Ability to attract medical professionals as it was associated with 91 full time consultants, 481 visiting consultants, and 740 nurses as of 30 September 2023. 
5. Ability to retain medical professionals as it had an attrition rate of 11% for its doctors. 
6. Track record of financial growth as it reported EBITDA margins of 21%, 23%, 22% and 18% in FY21, FY22, FY23 and Q2 FY24. 
7. 94% of its total revenue in FY23 and 92% of its total revenue in Q2 FY24 came from private insurance patients or walk-in cash patients, and not through corporate associations. It indicates a good brand rapport. 

Risks and threats

1. Concentrated in West Bengal as it receives 70% of its revenue from operations from hospitals in WB. 
2. Faces competition from Ambuja Neotia Healthcare Initiative, AMRI Hospitals, Medica Hospitals, Fortis Healthcare, Apollo Hospitals, and Narayana Health. 
3. Bed occupancy rate is lower than some of its listed peers. 
4. Depends on the expertise of doctors and nurses but had an attrition rate of 22% for nurses in FY23. 
5. Operates in a highly regulated industry which requires it to maintain permits. Any regulatory changes or violations of these rules and regulations may affect its business adversely. 
6. The health insurance penetration in India stands low at 38% as of FY22, which makes healthcare unaffordable for lower income households and thereby reduces the demand for medical services.

GPT Healthcare Limited IPO details

| GPT Healthcare Limited IPO date

According to the offer document filed by the company with the SEBI, the GPT Healthcare IPO’s opening date – in other words, the GPT Healthcare IPO launch date – will be 22nd February 2024. The GPT Healthcare IPO closing date is 26th February 2024. After this, investors will be updated about the allotment status on 27th February 2024.

Investors, who have been allotted shares, can expect them to be credited to their demat account on 28th February 2024. The GPT Healthcare IPO listing date is 29th February 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. 

| GPT Healthcare Limited IPO Price Band

The IPO is an offer for sale as well as a fresh issue. The GPT Healthcare IPO price band has been set between ₹177 and ₹186 per share. Interested investors can choose a price within this band to apply for the IPO. 

The GPT Healthcare IPO listing price will be determined on 29th February 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.

| GPT Healthcare Limited IPO Lot size

The GPT Healthcare IPO details have been declared. The GPT Healthcare IPO lot size is set at 80 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the GPT Healthcare IPO issue size is approx ₹525 crore. 

How to pre-apply for the GPT Healthcare Limited IPO?

You can pre-apply for the GPT Healthcare Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. 

Follow these steps to pre-apply for the IPO: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘GPT Healthcare Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Pre-Apply’
7. Accept the mandate on your UPI app

How to apply for the GPT Healthcare Limited IPO?

If you are interested in this investment opportunity but unsure how to apply for the GPT Healthcare Limited IPO, here we are listing out the steps for you. 

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the GPT Healthcare Limited IPO on Upstox: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘GPT Healthcare Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Apply’
7. Accept the mandate on your UPI app

How to check the GPT Healthcare LimitedIPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. 

Here’s a step-by-step guide on how to check the GPT Healthcare Limited IPO allotment status:

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover page, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, you will find the ‘View all’ option
5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
6. In the ‘IPO’ tab, click on ‘My applications’ 
7. In ‘My applications’, under the History section, your GPT Healthcare Limited IPO allotment status will be mentioned

Check Allotment Status

Open a demat account with Upstox to apply for the GPT Healthcare Limited IPO

To apply for the GPT Healthcare Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

1. Click here to visit the demat account opening page on the Upstox website. 
2. Enter your phone number and other essential details to begin opening a demat account.
3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

Open Demat Account

Upstox – trading app to apply for the GPT Healthcare Limited IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.

You can apply for the GPT Healthcare Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.