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Business News/ Markets / Ipo/  GPT Healthcare IPO last day: Check latest GMP, subscription status, review, key dates, more. Apply or not?
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GPT Healthcare IPO last day: Check latest GMP, subscription status, review, key dates, more. Apply or not?

GPT Healthcare IPO comprises fresh issue of ₹40 crore and OFS of 26,082,786 equity shares worth ₹485.14 crore. Net proceeds will be used for corporate objectives and loan repayment. GPT IPO GMP is +9, indicating a listing price of ₹195 apiece.

GPT Healthcare IPO opened for subscription on Thursday, February 22, and will close today (Monday, February 26). (https://ilshospitals.com/)Premium
GPT Healthcare IPO opened for subscription on Thursday, February 22, and will close today (Monday, February 26). (https://ilshospitals.com/)

GPT Healthcare IPO opened for subscription on Thursday, February 22, and will close today (Monday, February 26). GPT Healthcare IPO has managed to sail through on the last day as its been fully booked. Non Institutional Investors followed by Qualified Institutional Buyers stole the show on the last day. 

GPT Healthcare IPO's retail portion was completely booked on the second day, but the total subscription numbers struggled to reach 100%. GPT Healthcare IPO subscription status was 85% on day 2.

GPT Healthcare IPO's retail portion was booked 1.25 times, as per BSE data. The Non Institutional Investors (NII) portion was booked 79%, and Qualified Institutional Buyers (QIB) portion was booked 19%, as per BSE data.

On the first day, GPT Healthcare IPO subscription status was 37%. The issue's retail portion was subscribed 66%, NII portion was booked 18%, and QIBs portion is yet to receive bids.

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GPT Healthcare IPO price band has been fixed in the range of 177 to 186 per equity share of face value of 10. GPT IPO lot size is 80 equity shares and in multiples of 80 equity shares thereafter.

GPT Healthcare IPO raised 157.54 crores from anchor investors on Thursday, February 22. The company notified the exchanges that it allocated 84,69,996 equity shares at 186 apiece.

Also Read: GPT Healthcare IPO retail portion fully booked on second day of bidding

GPT Healthcare IPO details
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GPT Healthcare IPO details

GPT Healthcare IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

GPT Healthcare Ltd operates a chain of mid-sized full service hospitals under the ‘ILS Hospitals’ brand and provide integrated healthcare services, with a focus on secondary and tertiary care.

Between March 31, 2022, and March 31, 2023, GPT Healthcare Limited's profit after tax (PAT) dropped by -6.37% while its revenue climbed by 7.11%.

GPT Healthcare IPO Subscription Status today

On the third day, GPT Healthcare IPO has been subscribed 8.52 times, as per BSE data.

GPT Healthcare IPO's retail portion has been booked 2.44 times, NII portion is booked 11.02 times, and QIB portion is booked 17.30 times, as per BSE data.

GPT Healthcare IPO has received bids for 16,84,72,240 shares against 1,97,63,327 shares on offer, according to data from the BSE.

GPT Healthcare IPO details

GPT Healthcare IPO, which is worth 525.14 crore, comprises a fresh issue of 40 crore, and an offer-for-sale (OFS) of 26,082,786 equity shares of 10 aggregating up to 485.14 crore by the investor selling shareholder, BanyanTree Growth Capital II, LLC.

The company intends to use the net proceeds to finance the following goals: general corporate objectives; full or partial repayment or payback of some existing loans obtained by the company from banks and financial institutions.

GPT Healthcare IPO's book running lead manager is JM Financial Limited, and the issue's registrar is Link Intime India Private Ltd.

Also Read: GPT Healthcare IPO: From financials to key risks, here are 10 things to know from RHP before investing

GPT Healthcare IPO GMP today

GPT IPO GMP or grey market premium is + 9. This indicates GPT Healthcare share price was trading at a premium of 9 in the grey market, as per investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the GPT Healthcare IPO expected listing price is indicated at 195 apiece, which is 4.84% higher than the IPO price of 186.

Based on last 11 sessions grey market activities, the current GMP ( 9) is showing signals towards the lower side. The lowest GMP is 0, while the highest GMP is 19, according to investorgain.com analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: GPT Healthcare IPO: GMP, review to subscription status. Apply or not?

GPT Healthcare IPO Review

Swastika Investmart Ltd.

According to the brokerage's analysis, GPT Healthcare Ltd. is a well-known regional corporate healthcare provider in Eastern India in terms of the number of hospitals and beds. More than 35 specialisations and super specialties are covered, offering a broad spectrum of medical therapies.

Operating in three locations in Eastern India, the organisation has deliberately focused on the relatively untouched healthcare sector. The speciality mixtures and location of the firm are quite varied. However, the company's low occupancy rate and competition from other healthcare service providers pose challenges.

“The issue is coming at a PE valuation of 38.1x which seems fairly priced. But considering all the other factors we suggest Investors to carefully evaluate their risk tolerance and conduct further due diligence before making an investment decision," the brokerage said.

Mehta Equities Ltd.

According to the brokerage, GPT Healthcare offers investors a beneficial chance to participate in a well-known, regionally specialised healthcare provider in Eastern India. The brokerage house supports the company's strategic emphasis on the healthcare sector in eastern India, where it operates in three densely populated areas that have seen robust business and service growth.

Analysing the financial statements, it can be seen that while the company's profit after taxes decreased somewhat by -6.37% during the same period, its operations revenue increased by a modest 7%. In terms of valuation, the issue seeks a market capitalization of Rs. 1526/-cr at the upper band of Rs. 186/-. A fully priced offer, with a P/E ratio of 32.5x, is what the business is requesting based on fully diluted post-IPO paid-up capital and annualised FY 2024 profits.

“Given its healthy regional presence in Eastern India and strategically situated hospitals offering a comprehensive array of medical specialties, GPT Healthcare is positioned to seize opportunities in underserved healthcare markets and strategically growing in the adjacent markets with asset-light business models like Ranchi.

Investors should also look at IPO offers which come with 100% OFS issue which is an area of concern for new investors. Hence, considering all parameters we recommend investors to “SUBSCRIBE" with risk in this IPO for long term perspective only while conservative investors can wait and watch the space post listing," said Rajan Shinde, Research Analyst at Mehta Equities Ltd.

Also Read: GPT Healthcare IPO Day 2: Check latest GMP, subscription status, other details; should you subscribe?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 26 Feb 2024, 09:26 AM IST
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