The initial offering (IPO) of GPT Healthcare opened Thursday on February 22, 2024, to raise INR 525 Cr from the public. The IPO shall remain open till 26th February and the Price band is INR 177 to INR 186 Per share. The Investors can bid for a minimum of 80 Equity shares in one lot and multiples thereof.
Category Allocation
Qualified Institutional Buyers (QIB) are allocated 50% of the total IPO issue size, Non-Institutional Investors (NIIs) are allocated 35% and the remaining is allocated 15%.
Composition of IPO
The IPO consisted of a Fresh Issue and an Offer for Sale (OFS) worth INR 40 Cr and INR 2.36 Cr respectively.
The shares are valued by private equity firm BanyanTree Growth Capital II The proceeds from the fresh issue, amounting to INR 30 Cr, will be utilized for debt repayment and general corporate purposes.
Exit of Investors
PE firm BanyanTree Growth Capital II, holding a 32.64% stake in GPT Healthcare, will divest its entire shareholding through the OFS, marking its exit from the company.
Lead Managers and Registrar to an Issue (RTA)
JM Financial Limited is the book-running lead manager for the IPO and Link Intime India Private Ltd is the registrar handling the IPO process.
Listing of Shares
The issuer company is set to be listed on both BSE and NSE with a tentative date of 29th Feb 2024.
Company Overview
The issuer company was founded in 2000 by Dwarika Prasad Tantia, Dr. Om Tantia, and Shree Gopal Tantia.
It started with an eight-bed hospital in Kolkata and now operates four full-service multi-speciality hospitals under the brand ILS Hospitals, totalling 561 beds.
The company’s Hospitals are located in West Bengal and Tripura, offering integrated healthcare across more than 35 specialities and super specialities.
Financials
The company has witnessed a Compound Annual Growth Rate (CAGR) of 36% in net profit, reaching INR 39 Cr, and a CAGR of 20.53% in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), amounting to INR 80 Cr for the fiscal year ended FY23.
