GPT Healthcare IPO subscribed more than 8 times on last day: Check key details here
Upstox
3 min read • Updated: February 26, 2024, 8:08 PM
Summary
The GPT Healthcare IPO share allotment is expected to be finalised on February 27. GPT Healthcare shares are likely to be listed on the BSE and NSE on February 29.
The GPT Healthcare Ltd IPO subscription closed with a significant demand from the investors. The public issue was subscribed over 8.5 times on the last day of subscription on Monday, February 26.
The GPT Healthcare Ltd IPO received bids for over 16.84 core shares as against 1,97,63,327 equity shares on offer, as per the NSE date. The GPT Healthcare IPO subscription window was open from February 22 to February 26.
The public issue has received a strong bidding across all segments with the qualified instructional buyers’ (QIBs) segment witnessing the highest demand. The QIBs segment was subscribed over 17.3 times as GPT Healthcare Ltd received bids for 9,76,84,000 shares as against 56,46,664 on offer for the category.
The non-institutional investors (NII) submitted applications for a total of 4,66,54,160 equity shares compared to 42,34,999 shares reserved for the segment, reflecting a subscription of 11.02 times, as per the NSE data.
The retail individual investors (RII) category was subscribed 2.44 times. GPT Healthcare received bids for 2,40,89,440 shares as against 98,81,664 equity shares on offer.
GPT Healthcare IPO share allotment date
With GPT Healthcare's IPO allotment completed, the company will now finalise the share allotment on February 27. Credit of shares into the demat accounts of the successful bidders is expected to be initiated on February 28 along with the refund for investors who could not secure shares in the bidding. GPT Healthcare shares are likely to be listed on the BSE and NSE on February 29.
GPT Healthcare IPO Details
GPT Healthcare Ltd, which operates and manages mid-sized and multi-speciality hospitals under the brand name ILS Hospitals, plans to raise ₹40 crore through a fresh issue of shares. The public issue also has an offer for sale (OFS) portion from existing investor BanyanTree Growth Capital II LLC.
The Mauritius-based private equity fund presently holds a 32.64% stake in GPT Healthcare and will be divesting its entire stake through the OFS via the IPO. The company had set a price of ₹177-186 per share of ₹10 face value each. The company had reserved up to 50% of the issue size for QIBs while 15% was kept aside for NIIs and 35% of equity shares for retail investors.
The GPT Healthcare IPO lot size was of 80 shares, aggregating to a minimum investment of ₹14,880, and multiples thereof.
The hospital chain operator has appointed JM Financial as the book-running lead manager. Link Intime India is the registrar for the IPO. The fund raised through the public issue will be used by the company for meeting its debt obligations and other general corporate purposes.
About the company
GPT Healthcare manages and operates mid-size full-service hospitals under the brand name ILS Hospitals. The company’s focus remains on secondary and tertiary care healthcare services. It offers over 35 specialities and super-specialities healthcare services including internal medicine and diabetology, orthopaedics and joint replacement, interventional cardiology, neurology, neurosurgery, intensive care and gynaecology. GPT Healthcare also offers diagnostic and pharmacy services. The company manages over 560 beds across 4 of its hospitals.