GPT Healthcare Ltd, which operates and manages medium-sized multi-specialty hospitals under the ILS Hospitals brand, set a price range on Monday ₹177-186 per share for his ₹Initial Public Offering (IPO) worth 502 Crore.
GPT Healthcare IPO: Offering to anchor investors will open for one day on February 21, the company said. (File photo) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}
The first share sale will open for public subscription from February 22nd to 26th.
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The tender for anchor investors will be opened for one day on February 21, the company said.
The IPO is a combination of a new issue of equity shares ₹40 crore and an offer for sale (OFS) of up to 2.6 crore shares of private equity firm BanyanTree Growth Capital II.
BanyanTree, which holds 2.6 crore shares or 32.64 per cent stake in Kolkata-based GPT Healthcare, is divesting its entire stake in the company.
Proceeds from the new edition to the tune of ₹30 crore will be used for debt repayment and general corporate purposes.
At the upper end of the price, the IPO will mobilize ₹501.67 crore.
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GPT Healthcare was founded by Dwarika Prasad Tantia, Dr. Om Tantia and Shree Gopal Tantia and started with an eight-bed hospital in Kolkata in 2000.
Today, the company operates four full-service specialty hospitals with a total capacity of 561 beds.
The company competes with 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.
Investors can bid for a minimum of 80 shares and in multiples of 80 shares thereafter.
Total revenue increased by 7.3 percent ₹361.03 crore in FY23 of ₹337.41 crore in FY22.
JM Financial is the sole bookrunner of the issue. The shares are proposed to be listed on the BSE and NSE.
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