GPT Healthcare IPO: Essential details you need to know

19 Feb 2024 , 01:06 PM

Kolkata-based hospital chain GPT Healthcare Ltd has announced the launch of its initial public offering (IPO), setting the price band at ₹177-186 per share. With the subscription set to open from February 22 to 26, investors are eyeing this opportunity to become part of the healthcare sector’s growth story.

Key Details of the IPO:

• Price Band: The IPO is priced in the range of ₹177-186 per share.
• Subscription Dates: Investors can subscribe to the IPO from February 22 to 26, with the anchor book opening on February 21.
• Allotment and Listing: Allotment of IPO shares is expected on February 27, while refunds are likely to be processed on February 28. The shares are anticipated to be listed on exchanges on February 29.
• Issue Size: The IPO aims to raise approximately ₹40 Crore through a fresh issue of shares. Additionally, there will be an offer for sale (OFS) of up to 2.61 Crore shares.
• Market Capitalization: At the upper end of the price band, the company is expected to raise a total of ₹485.14 Crore, with a total market capitalization of ₹1,500 Crore.

Utilization of Proceeds:

• The company plans to utilize ₹30 Crore from the fresh issue proceeds to repay debt, while the remaining funds will be allocated for general corporate purposes.

Investor Allocation:

• The IPO includes allocation for various investor categories, with qualified institutional buyers (QIBs), retail investors, and non-institutional investors (NIIs) having specific%ages of shares offered to them.

Company Profile and Performance:

• GPT Healthcare operates a chain of mid-sized full-service hospitals under the ILS brand, providing integrated healthcare services with a focus on secondary and tertiary care.
• The company has demonstrated robust growth, with a 21.95% CAGR in revenue from FY21 to FY23, reaching ₹361.04 Crore in FY23.
• Profit after tax has grown at a CAGR of 36% to ₹39 Crore, and EBITDA has seen a 20.53% rise to reach ₹80 Crore during FY23.
• GPT Healthcare operates four multispecialty hospitals in West Bengal and Tripura, with a total capacity of 561 beds.

JM Financial is the lead manager to the issue, while Link Intime India is the registrar, overseeing the IPO process.