GPT Healthcare IPO Subscribed 1.29 Times, Issue to Close Today

26 Feb 2024 , 11:31 AM

The GPT Healthcare Initial Public Offering (IPO) commenced its subscription on February 22 and is set to conclude today, February 26. On day 2, the issue has received 0.85 times subscription overall. Click here to subscribe the IPO.

As per BSE data, on day 3, the retail portion of GPT Healthcare IPO was oversubscribed 1.65 times, while the Non-Institutional Investors (NII) portion subscribed 1.94 times. However, the Qualified Institutional Buyers (QIB) subscribed 0.19 times only.

The IPO’s price band is set between ₹177 to ₹186 per equity share with a lot size of 80 equity shares and multiples thereof.

GPT Healthcare IPO secured ₹157.54 Crores from anchor investors on February 22, allocating 84,69,996 equity shares at ₹186 each.

The IPO allocation reserved not more than 50% for Qualified Institutional Buyers (QIB), at least 15% for Non-Institutional Investors (NII), and a minimum of 35% for retail investors.

GPT Healthcare Ltd operates ‘ILS Hospitals,’ a chain of mid-sized full-service hospitals, focusing on secondary and tertiary care. Between March 31, 2022, and March 31, 2023, the company’s Profit After Tax (PAT) declined by -6.37%, while revenue increased by 7.11%.

GPT Healthcare IPO Details: The IPO is valued at ₹525.14 Crore, with a fresh issue of ₹40 Crore and an offer-for-sale (OFS) of 26,082,786 equity shares, aggregating up to ₹485.14 Crore by investor selling shareholder, Banyan Tree Growth Capital II, LLC.

The net proceeds will be directed towards general corporate objectives, and partial or full repayment of existing loans obtained from banks and financial institutions.

GPT Healthcare Ltd is a prominent regional corporate healthcare provider in Eastern India, operating in three locations, offering more than 35 specializations and super specialties. 

Management and Operations: JM Financial Limited is the book running lead manager for GPT Healthcare IPO, and Link Intime India Private Ltd is the issue’s registrar.

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