GPT Healthcare IPO: The initial public offering (IPO) of GPT Healthcare Ltd, which owns and operates mid-sized multi-speciality hospitals under the ILS Hospitals brand, will open on February 22. The subscription for the offering will end on February 26.
According to the Red Herring Prospectus (RHP), bidding for anchor investors will be open on February 21. The IPO is a combination of an offer for the sale of R 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II with and fresh issue of up to 40 crore shares.
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BanyanTree holds 2.6 crore shares or 32.64 per cent stake in Kolkata-based GPT Healthcare and will sell its entire stake in the company. The proceeds of the IPO will be used to repay debt and for general corporate purposes.
About GPT Healthcare
Started in 2000 with an eight-bed hospital in Kolkata, GPT Healthcare operates four full-service multi-speciality hospitals with a full capacity of 561 beds.
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The company competes with listed players including Global Health Ltd, Krishna Institute of Medical Sciences Ltd, Jupiter Life Line Hospitals Ltd, Yatharth Hospital & Trauma Care Services Ltd and Shalby Ltd.
Its total revenue in FY23 was Rs 342.40 crores in FY23 up 7.11 per cent to Rs.366.73 crores. The company’s net profit decreased to Rs 39.01 crore from Rs 41.66 crore in the previous financial year.
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JM Financial is the sole lead book-running manager for this issue. Equity shares are proposed to be listed on BSE and NSE.
