The GPT Healthcare IPO closes at the moment, Monday, February 26, 2024. The subject opened for subscription on February twenty second and closes on the finish of the buying and selling day at the moment. While the retail portion of the IPO was absolutely subscribed on the second day, the general subscription was reported to be round 85% as of February 23.

Open Date: February twenty second, 2024

Close Date: Today, February twenty sixth, 2024

Price Band: Rs 177 – Rs 186 per share

Listing Date: Tentatively set for February 29, 2024

According to BSE knowledge, the retail portion of the GPT Healthcare IPO was oversubscribed by 1.25 occasions. The Non-Institutional Investors (NII) portion noticed a subscription price of 79%, whereas the Qualified Institutional Buyers (QIB) portion was subscribed at 19%.

On the inaugural day, the subscription standing of the GPT Healthcare IPO stood at 37%. The retail portion of the difficulty was subscribed at 66%, the NII portion was booked at 18%, and bids for the QIB portion are nonetheless pending.

The value band for the GPT Healthcare IPO has been set between Rs 177 and Rs 186 per fairness share, with a face worth of Rs 10 every. The IPO lot dimension contains 80 fairness shares, and buyers can subscribe in multiples of 80 fairness shares thereafter.

On Thursday, February 22, GPT Healthcare IPO secured Rs 157.54 crores from anchor buyers. The firm knowledgeable the exchanges that it allotted 84,69,996 fairness shares at Rs 186 per share.

The GPT Healthcare IPO has allotted as much as 50% of the shares within the public subject for certified institutional consumers (QIB), at the least 15% for non-institutional buyers (NII), and a minimal of 35% of the supply is reserved for retail buyers.

GPT Healthcare Ltd manages a community of mid-sized full-service hospitals branded as ‘ILS Hospitals’ and affords complete healthcare companies, emphasizing secondary and tertiary care.

The allocation of shares for the GPT Healthcare IPO is scheduled for February 27, with its itemizing set to happen on each the NSE and BSE on February 29, 2024.

GPT Healthcare IPO GMP Today

As of at the moment, Monday, February 26, 2024, at 11:00 am, the Grey Market Premium (GMP) for the GPT Healthcare IPO is Rs 9. This implies that the IPO is buying and selling Rs 9 above its subject value band of Rs 177 – Rs 186 per share within the unofficial gray market.

GMP is an unofficial indicator and doesn’t assure the itemizing value of the IPO. It’s essential to do not forget that the GMP will not be a dependable indicator of the long run efficiency of the inventory.

GPT Healthcare IPO: Should You Subscribe?

Assigning the ‘subscribe long-term’ score, brokerage Anand Rathi in a notice mentioned, “At the higher value band, the corporate is valuing at P/E of 39.1 occasions with a market cap of Rs 1,526.2 crore publish subject of fairness shares and return on web value of 23.7 per cent in FY23. On the valuation entrance, we consider that the corporate is pretty priced. Thus, we advocate an ‘subscribe for long term’ score to the IPO.”

GPT Healthcare IPO Details

The IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II.

BanyanTree, which holds 2.6 crore shares or 32.64 per cent stake in Kolkata-based GPT Healthcare, is divesting its entire shareholding in the company.

Proceeds from the fresh issue to the tune of Rs 30 crore will be used for payment of debt and general corporate purposes.

The IPO will mobilise Rs 501.67 crore at the lower end of the price band and Rs 525.14 crore at the upper end.

GPT Healthcare, founded by Dwarika Prasad Tantia, Dr Om Tantia and Shree Gopal Tantia, started with an eight-bed hospital in Kolkata in 2000. Today it operates four full-service multi-specialty hospitals, with a total capacity of 561 beds.

The company competes with listed industry peers, including Global Health Ltd, Krishna Institute of Medical Sciences Ltd, Jupiter Life Line Hospitals Ltd, Yatharth Hospital & Trauma Care Services Ltd and Shalby Ltd.

Half of the issue has been reserved for qualified institutional buyers, 35 per cent for non-institutional investors and the remaining 15 per cent for retail investors. Investors can bid for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter.

Its total income increased 7.3 per cent to Rs 361.03 crore in FY23 from Rs 337.41 crore in FY22.

JM Financial is the sole book-running lead manager to the issue.