The subscription period for the GPT Healthcare IPO began on Thursday, February 22, and it ends today, Monday, February 26. On the second day, the retail portion was fully booked, but the overall subscription numbers were not able to reach 100%. On day two, 85% of subscribers to the GPT Healthcare IPO were active.
The retail portion of the GPT Healthcare IPO was booked 1.25 times, according to BSE data. BSE data shows that 79% of the portion was booked for Non Institutional Investors (NII) and 19% for Qualified Institutional Buyers (QIB).
37% of subscribers to the GPT Healthcare IPO were active on day one. The retail portion of the issue had 66% of its subscriptions booked, the NII portion had 18% of its subscriptions booked, and the QIB portion had not received any bids yet.
The price range for GPT Healthcare’s initial public offering (IPO) is ₹177 to ₹186 per equity share, with a ₹10 face value. 80 equity shares make up each GPT IPO lot, and thereafter, lots of 80 equity shares each.
At its IPO on Thursday, February 22, GPT Healthcare raised ₹157.54 crores from anchor investors. The company announced to the exchanges that 84,69,996 equity shares, valued at ₹186 each, had been allotted.
The GPT Healthcare Initial Public Offering (IPO) has set aside a minimum of 15% of its shares for non-institutional institutional investors (NII), a maximum of 50% of its shares for qualified institutional buyers (QIB), and a minimum of 35% of the offer for retail investors.
GPT Healthcare Ltd. offers integrated healthcare services, with an emphasis on secondary and tertiary care, through a chain of mid-sized full-service hospitals operating under the “ILS Hospitals” brand.
GPT Healthcare Limited’s revenue increased by 7.11% between March 31, 2022, and March 31, 2023, but its profit after tax (PAT) decreased by -6.37%.
GPT Healthcare IPO GMP Today
- Grey market premium (GMP) for GPT IPO is + 9. According to investorgain.com, this shows the GPT Healthcare share price was trading at a premium of ₹9.
- With the upper end of the IPO price range and the current premium in the grey market taken into account, the expected listing price for the GPT Healthcare IPO is ₹195 per share, which is 4.84% more than the IPO price of ₹186.
- The current GMP (₹9) is indicating a downward trend based on the activities of the grey market over the last 11 sessions. According to analysts at investorgain.com, the lowest GMP is ₹0, and the highest GMP is ₹19.
GPT Healthcare IPO Details
- The ₹525.14 crore GPT Healthcare IPO is made up of an offer-for-sale (OFS) of 26,082,786 equity shares of ₹10, which is the investor selling shareholder, and a fresh issue of ₹40 crore, totaling ₹485.14 crore.
- The net proceeds will be used by the company to fund its general corporate objectives and the repayment, in full or in part, of some of its outstanding loans from banks and other financial institutions.
- Link Intime India Private Ltd. is the registrar of the GPT Healthcare IPO, and JM Financial Limited is the book running lead manager.
Review
In terms of the quantity of hospitals and beds, GPT Healthcare Ltd. is a well-known regional corporate healthcare provider in Eastern India, according to the brokerage’s analysis. A wide range of medical therapies are provided by the more than 35 specializations and super specialties that are covered.
The organization, which has three locations in Eastern India, has purposefully concentrated on the comparatively unexplored healthcare market. The company’s location and specialty mixes are highly diverse. Notwithstanding, the organization faces obstacles due to its low occupancy rate and competition from other healthcare service providers.
The issue appears to be reasonably priced, with a PE valuation of 38.1x. However, taking into account all the other variables, we advise investors to thoroughly assess their risk tolerance and carry out additional due diligence prior to making an investment decision, according to the brokerage.
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