GPT Healthcare IPO Subscription: Allotment on Feb 27, Listing on Feb 29

19 Mar 2024 , 10:33 AM

GPT Healthcare Ltd’s IPO began on February 22 with a price band of ₹177-186 per share. The IPO subscription window closes on February 26, 2024. Click here to subscribe the IPO.

At the time of writing on the first day, the Retail subscription is at 0.57 times, and the non-institutional quota records 0.12 times subscription. The QIB is subscribed at 0.00 times. Allotment is scheduled for February 27, and listing on NSE and BSE is set for February 29, 2024.

GPT Healthcare collected ₹157.54 Crore from anchor investors a day before the IPO. The IPO includes a fresh issue of ₹40 Crore and an OFS of up to 2.6 Crore equity shares by BanyanTree Growth Capital II.

Funds from the fresh issue (₹30 Crore) will be used for debt payment and general corporate purposes. The IPO is expected to mobilize ₹501.67 Crore at the lower price band and ₹525.14 Crore at the upper end.

GPT Healthcare, operating under ILS Hospitals, started in 2000 and currently manages four multi-specialty hospitals with 561 beds.

It competes with listed peers such as Global Health Ltd, Krishna Institute of Medical Sciences Ltd, Jupiter Life Line Hospitals Ltd, Yatharth Hospital & Trauma Care Services Ltd, and Shalby Ltd.

The IPO allocations include 50% for qualified institutional buyers, 35% for non-institutional investors, and 15% for retail investors.

Investors can bid for a minimum of 80 equity shares and in multiples of 80 thereafter. Financially, GPT Healthcare reported a 7.3% increase in total income, reaching ₹361.03 Crore in FY23 from ₹337.41 Crore in FY22.

JM Financial is the sole book-running lead manager for the IPO, and the equity shares are proposed to be listed on both the BSE and the NSE.

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