GPT Healthcare IPO day 1: Check subscription details here

22 Feb 2024 , 12:00 PM

The GPT Healthcare IPO, which commenced on February 22, saw a subscription rate of 18% on the first day of bidding. Retail investors showed a strong interest, bidding 34%, while high net-worth individuals acquired 0.05 times the allotted quota. Click here to subscribe the IPO

With a price band set at ₹177-186 per share, the IPO is scheduled to close for subscription on February 26. The company aims to raise approximately ₹525.14 Crore through a fresh issue of 21.5 lakh shares valued at ₹40 Crore and an offer-for-sale of 2.6 Crore shares worth ₹485.14 Crore.

BanyanTree Growth Capital II LLC plans to divest its entire shareholding of over 2.60 Crore equity shares, accounting for 32.64% of the paid-up equity. This move signifies the exit of the Mauritius-based private equity fund from the company.

Before the IPO launch, the company secured ₹157.54 Crore from various anchor investors on February 21. The net proceeds from the IPO will be allocated towards repayment or prepayment of certain outstanding borrowings obtained from banks and financial institutions, with the remaining funds earmarked for general corporate purposes.

JM Financial serves as the book-running lead manager for the GPT Healthcare IPO, while Link Intime India acts as the registrar for the issue.