GPT Healthcare IPO: Proceeds from the new issuance will be used for debt repayment and general corporate purposes.
GPT Healthcare IPO: Operates and manages mid-sized general specialty hospitals under the ILS Hospitals brand.
GPT Healthcare IPO: GPT Healthcare Ltd, an IPO that operates and manages a mid-sized general specialty hospital under the ILS Hospital brand, is scheduled to open on February 22.
The initial share sale is expected to be completed on February 26.
GPT Healthcare IPO Date
IPO Commencement Date: February 22, 2024
IPO Closing Date: February 26, 2024
According to Red Herring Prospectus (RHP), anchor investor bidding will open for one day on February 21.
GPT Healthcare IPO size
The IPO is a combination of fresh equity issue totaling Rs 40 crore and an offer for sale (OFS) worth up to USD 2.6 billion by private equity fund BanyanTree Growth Capital II.
BanyanTree, which holds 2.6 billion shares or 32.64 per cent stake in Kolkata-based GPT Healthcare, plans to sell its entire stake in the company.
GPT Healthcare IPO Purpose
Proceeds from the new issuance will be used to repay debt and for general corporate purposes.
Introduction to GPT Healthcare
GPT Healthcare, which started as an 8-bed hospital in Kolkata in 2000, operates four general hospitals with a total of 561 beds.
The company competes against 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.
Total revenue increased by 7.11% from Rs 342.40 crore in FY22 to Rs 366.73 crore in FY23.
The company's net profit declined to Rs 39.01 crore in FY23 from Rs 41.66 crore a year ago.
JM Financial is the sole bookkeeping senior manager on the issue.
The shares are proposed to be listed on BSE and NSE.
(including PTI input)