The company operates four full-service multi-specialty hospitals, with a total capacity of 561 beds
The initial share sale of GPT Healthcare Ltd, which operates and manages mid-sized multi-specialty hospitals under the brand name ILS Hospitals, was subscribed 8.52 times on the last day of the offer on Monday.
GPT Healthcare’s initial public offering (IPO) received 16,84,27,600 bids against 1,97,63,327 shares on offer, according to NSE data.
The qualified institutional buyers (QIBs) category was subscribed 17.30 times, while the non-institutional investor quota was subscribed 11.02 times. The portion for Retail Individual Investors (RIIs) was subscribed 2.44 times.
On February 21, GPT Healthcare Ltd said it had collected Rs 157.54 crore from major investors.
The Rs 525 crore IPO is a combination of a fresh issue of shares aggregating Rs 40 crore and an Offer For Sale (OFS) of up to 2.6 crore shares by private equity firm BanyanTree Growth Capital II.
BanyanTree, which owns 2.6 crore shares, or a 32.64 per cent stake, in Calcutta-based GPT Healthcare, is divesting its entire equity stake in the company.
Price range for the offer is Rs 177-186 per piece.
Proceeds from the new issue will be used for debt payments and general corporate purposes.
GPT Healthcare, founded by Dwarika Prasad Tantia, Om Tantia and Shree Gopal Tantia, started in 2000 with an eight-bed hospital in Kolkata.
The company operates four full-service multi-specialty hospitals, with a total capacity of 561 beds.
JM Financial is the sole lead manager of the issue.
It is proposed to list the shares on the BSE and NSE.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: February 26, 2024 | 8:02 PM IST