GPT Healthcare IPO: Check Price Band, Subscription, Allotment & Listing Dates

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New Delhi: GPT Healthcare Ltd, a Kolkata-based hospital chain, has disclosed its plans for an initial public offering (IPO), setting the price band at Rs 177-186 per share. The IPO aims to raise approximately Rs 40 crore from the fresh issue and plans to raise additional funds through an Offer For Sale (OFS) of up to 2.61 crore shares.

GPT Healthcare IPO: Subscription Dates

The IPO subscription window is scheduled to be open from February 22 to 26, with the anchor book opening on February 21. ()

GPT Healthcare IPO: Allotment Dates

IPO share allotments are expected on February 27, while refunds are slated for February 28. ()

GPT Healthcare IPO: Listing

If all goes as planned, the shares are anticipated to be listed on exchanges on February 29.

Utilization Of Funds

Of the proceeds from the fresh issue, Rs 30 crore will be earmarked for debt repayment, with the remainder allocated for general corporate purposes.

BanyanTree Growth Capital II LLC, a Mauritius-based private equity fund, will be divesting its entire shareholding of over 2.60 crore equity shares, representing 32.64 percent of the paid-up equity.

Company Background

GPT Healthcare operates a chain of mid-sized full-service hospitals under the ILS brand, focusing on integrated healthcare services with an emphasis on secondary and tertiary care.

The company has recorded significant growth, with a 21.95 percent Compound Annual Growth Rate (CAGR) in revenue from FY21 to FY23, reaching Rs 361.04 crore in FY23. Profit after tax and EBITDA also saw substantial growth during the same period.

Operational Details

The hospital chain currently operates four multispecialty hospitals across West Bengal and Tripura, with a total capacity of 561 beds. JM Financial is serving as the lead manager to the issue, while Link Intime India is appointed as the registrar.