Kolkata based GPT Healthcare IPO opens on February 22: All you need to Know
Upstox
3 min read • Updated: February 21, 2024, 8:12 PM
Summary
The GPT Healthcare IPO subscription is open from February 22 to February 26. The retail investors can submit bids for a lot size of 80 shares, aggregating to ₹14,880. GPT Healthcare IPO price band has been fixed between ₹177 and ₹186 per share.
GPT Healthcare Ltd initial public offer (IPO) is set to open for subscription on Thursday, February 22. The company, which operates mid-sized and multi-speciality hospitals under the brand name ILS Hospitals, is looking forward to raising ₹525 crore through the public issue. The GPT Healthcare IPO comprises fresh issue of shares amounting to ₹40 crore and an offer for sale (OFS) of 2.6 crore equity shares worth ₹485 crore by the existing shareholders BanyanTree Growth Capital II LLC. The Mauritius-based private equity fund, which presently holds a 32.64% stake in GPT Healthcare, will be divesting its entire stake in the company after the public issue. Proceeds of the GPT Healthcare IPO will be used for meeting debt obligations and general corporate purposes.
The company had filed preliminary papers with the market regulator, the Securities and Exchange Board of India (Sebi) in October last year. GPT Healthcare had previously received SEBI's nod for a public issue to raise ₹400-500 crore in January 2022, but did not go ahead with the launch.
GPT Healthcare IPO price band, offer size and subscription dates
GPT Healthcare IPO price band has been fixed between ₹177 and ₹186 per share. Investors can submit their bids for the GPT Healthcare IPO between February 22 and February 26. Ahead of the public issue subscription, an anchor was scheduled on February 21.
The GPT Healthcare IPO share allotment is expected to happen on February 27, following which the refund is expected to be initiated on February 28. GPT Healthcare shares are likely to be listed on the stock exchanges on February 29.
The company has reserved more than 50% of the share in IPO for qualified institutional buyers (QIB) and 15% for non-institutional investors (NII). The remaining 35% of shares are reserved for retail investors.
Retail investors can submit bids for a minimum of 80 shares, aggregating to ₹14,880, and in multiples thereof. GPT Healthcare has appointed JM Financial as the book-running lead and Link Intime India is the registrar for the IPO. Promoters of GPT Healthcare, D P Tantia, Om Tantia and S G Tantia, presently hold a 67.34% stake in the company.
About GPT Healthcare
GPT Healthcare Ltd owns and operates a chain of mid-sized full-service hospitals under the ILS brand. The company offers healthcare services focusing on secondary and tertiary care. The Kolkata-headquartered company offers healthcare services in over 35 specialities and super-specialities. The company’s business operations also include diagnostic services and pharmacies.
Presently, GPT Healthcare operates 4 hospitals with a total 560 beds across eastern India. It targets to increase the bed count to more than 1000 in the next 3 years.
GPT Healthcare has reported a stable growth in its revenue and profit in the past three years. From ₹242.7 crore in FY21, the company's revenue grew to ₹337.4 crore in FY22 and ₹361 crore in FY23. GPT Healthcare’s net profit nearly doubled in FY23 to ₹39 crore compared to ₹21 crore in FY21.