GPT Healthcare, a key regional corporate healthcare company in Eastern India, is set to open its Initial Public Offering (IPO) for public subscription on February 22, 2024. Here’s everything you need to know about the upcoming public issue.
Introduction
GPT Healthcare Ltd was incorporated in the year 1989 to operate a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India. These hospitals are operated under the ILS Hospitals brand. They provide integrated healthcare services focusing on secondary and tertiary care.
The company is based out of Kolkata and offers a full gamut of healthcare services across 35 specialties and super-specialties. These include internal medicine, diabetology, nephrology, laparoscopic surgery, general surgery, gynaecology, obstetrics, gastroenterology, orthopaedics, interventional cardiology, neurosurgery, paediatrics, and neonatology. As of date, GPT Healthcare Ltd has a total of 1,855 employees, 85 full-time consultants, and 465 visiting consultants.
Currently, GPT Healthcare Ltd operates 4 multi-disciplinary hospitals with a combined capacity of 561 beds. Its offerings are spread across the full spectrum of healthcare services and cover more than 35 specialities and super specialities.
The promoters of the company are GPT Sons Private Limited, Dwarika Prasad Tantia, Dr. Om Tantia, and Shree Gopal Tantia. They currently hold 67.34% in the company.
Major Share Holder
Apart from the promoters, one of the major shareholders of GPT Healthcare Ltd is BanyanTree Growth Capital II LLC. They hold a significant stake in the company and are planning to sell their entire shareholding of over 2.60 crore equity shares, representing 32.64 percent of the paid-up equity. Please note that the exact shareholding pattern may vary and it’s always a good idea to check the latest reports or the company’s official disclosures for the most accurate information.
IPO Details
The IPO aims to raise around Rs 525.14 crore through a mix of fresh issue of 0.22 crore shares and an offer for sale of 2.61 crore shares. The company has fixed a price band of Rs 177-186 per share for its Rs 525-crore IPO. The issue closes on February 26, 2024.
Investors can make bids for 80 shares in one lot and multiples thereafter. The IPO, with a face value of Rs 10, consists 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.
Use of Fund
The fund from the fresh issue will be used for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company besides general corporate purposes.
Company Overview
GPT Healthcare operates four full-service multispecialty hospitals, with a total capacity of 561 beds. The company attends to over 35 specialties and super specialties such as internal medicine, diabetology, gastroenterology, orthopedics and joint replacements, interventional cardiology, neurology, neurosurgery, pediatrics, and neonatology.
Financial Performance
The company’s total income increased 7% year-on-year (YoY) to Rs 367 crore in fiscal 2023, primarily due to a rise in income from hospital services. However, net profit for the same period fell to Rs 39 crore versus Rs 42 crore a year ago.
Key details of the GPT Healthcare IPO:
| Detail | Description |
|---|---|
| IPO Opening Date | February 22, 2024 |
| IPO Closing Date | February 26, 2024 |
| Issue Type | Public Issue of Equity Shares |
| Face Value | Rs 10 Per Equity Share |
| IPO Price | Rs 177 – Rs 186 Per Equity Share |
| Market Lot | 80 Shares |
| Minimum Order Quantity | 80 Shares |
| Fresh Issue | Rs 40 crore |
| Offer for Sale (OFS) | Up to 2.6 crore equity shares |
| IPO Size | Rs 525.14 crore |
Conclusion
The GPT Healthcare IPO presents an opportunity for investors to participate in the growth story of a leading healthcare provider in Eastern India. As always, investors should carefully consider their financial goals, risk tolerance, and market conditions before making investment decisions.
Please note that this article is for informational purposes only and does not constitute financial advice. Always do your own research and consult with a professional financial advisor before making any investment decisions.
Disclaimer: Investing in IPOs involves substantial risk. Please read the Red Herring Prospectus carefully before investing.
Thanks for visiting finostory.com, read more articles. click here