Kolkata based GPT Healthcare Ltd is all set for IPO , to raise ₹485 crore
Upstox
2 min read • Updated: February 20, 2024, 10:25 AM
Summary
With an emphasis on both secondary and tertiary care, GPT Healthcare Ltd operates a chain of mid-sized full-service hospitals under the ILS brand. The company plans to use proceeds from issue to repay partial or full debt and general expenses.
GPT Healthcare Ltd operates a chain of mid-sized full-service hospitals under the ILS brand, with an emphasis on both secondary and tertiary care. The company's sales increased at a compound annual growth rate of 21.95% between FY21 and FY23, reaching ₹361.04 crore in FY23.
With a total bed count of 561, GPT runs four multispecialty hospitals in Tripura (Agartala), Dumdum, Salt Lake, and Howrah (West Bengal). The Tantia family and GPT Sons are the promoters of the healthcare services business, owning 67.34% of the shares.
In accordance with a statement released on Monday, GPT Healthcare Ltd. has set the pricing range for its impending initial public offering of between ₹177 to ₹186 per share. BanyanTree Growth Capital II LLC is positioned to sell its complete investment in the inaugural share offering, consisting of a new issue valued at ₹40 crore. However, 32.64%, or more than 2.60 crore shares, will be held by the selling investor.
The organisation aims to raise ₹485.14 crore, bringing its total market capitalization to ₹1,500 crore. Subscriptions for the issue will be available from February 22 to 26, 2024, while refunds are expected on February 28, followed by IPO allocations on February 27, 2024. The registrar for the GPT Healthcare Ltd offering is Link Intime India Private Ltd, and the book-running lead manager is Jm Financial Limited.
The firm plans to use the proceeds towards supporting general corporate activities as well as the full or partial repayment/prepayment of existing loans.