Kolkata-based GPT Healthcare is all set to launch its initial public offering (IPO) for subscription on February 22, 2024, and will close on February 26, 2024. This upcoming IPO is a book-built issue, which comprises a fresh issue of ₹40 crore and an offer for sale of 2.61 crore shares. The price band for the IPO is yet to be announced.
Around 50 percent of the issue is reserved for QIB, not less than 35 percent is reserved for retail investors, and not less than 15 percent of the offer is reserved for NII. GPT Healthcare Limited operates a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand, offering integrated healthcare services focusing on secondary and tertiary care.
The company offers a wide range of healthcare services in over 35 specialties and super-specialties. GPT Healthcare proposes to utilize the net proceeds towards funding repayment or prepayment of outstanding borrowings availed by the company from banks and financial institutions, as well as for general corporate purposes.
The allotment for the GPT Healthcare IPO is expected to be finalized on Tuesday, February 27, 2024. The IPO will list on BSE, NSE with a tentative listing date fixed as Thursday, February 29, 2024. Jm Financial Limited is the book running lead manager of the GPT Healthcare IPO, while Link Intime India Private Ltd is the registrar for the issue.
GPT Healthcare Limited’s revenue increased by 7.11%, and the profit after tax (PAT) dropped by -6.37% between the financial year ending with March 31, 2023. Investors and healthcare industry stakeholders will be closely watching the GPT Healthcare IPO as it is expected to make waves in the market. Stay tuned for further updates as the company gears up to go public.
