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Business News/ Markets / Ipo/  GPT Healthcare IPO: Price band set at 177-186 per share; check issue size, key dates, more
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GPT Healthcare IPO: Price band set at ₹177-186 per share; check issue size, key dates, more

GPT Healthcare IPO price band has been fixed in the range of ₹177 to ₹186 per equity share.

GPT Healthcare IPO price band has been fixed in the range of ₹177 to ₹186 per equity share of the face value of ₹10. (https://ilshospitals.com/)Premium
GPT Healthcare IPO price band has been fixed in the range of 177 to 186 per equity share of the face value of 10. (https://ilshospitals.com/)

GPT Healthcare IPO price band: The GPT Healthcare IPO price band has been fixed in the range of 177 to 186 per equity share of the face value of 10. The GPT Healthcare IPO date of subscription is scheduled for Thursday, February 22, and will close on Monday, February 26. The allocation to anchor investors for the GPT Healthcare IPO is scheduled to take place on Wednesday, February 21.

The floor price is 17.7 times the face value of the equity shares and the cap price is 18.6 times the face value of the equity shares. The price/earnings ratio based on diluted EPS for fiscal 2023 at the floor price is 36.27 times and at the cap price is 38.11 times. As compared to the average industry peer group P/E ratio of 56.36. 

The GPT Healthcare IPO lot size is 80 equity shares and in multiples of 80 equity shares thereafter.

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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.

The GPT Healthcare IPO hopes to raise around 40 crore through the fresh issue. It also intends to issue up to 2.61 crore shares as part of an offer-for-sale (OFS) to raise funds.

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 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. 

According to the Red Herring Prospectus (RHP), the organisation provides a wide range of medical services in more than 35 specialties and super specialties, including internal medicine and diabetology, nephrology (including renal transplants), general and laparoscopic surgery, obstetrics and gynaecology, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, and neurosurgery, paediatrics, and neonatology.

As of September 30, 2023, the company managed four multispecialty hospitals with a combined bed capacity of 561 in West Bengal's Howrah, Dum Dum, Salt Lake, and Agartala.

As per the RHP, the company's listed peers are Global Health Limited (with a P/E of 90.29), Krishna Institute of Medical Sciences Limited (with a P/E of 49.51), Jupiter Life Line Hospitals Limited (with a P/E of 81.73), Yatharth Hospital & Trauma Care Services Limited (with a P/E of 37.66), Kovai Medical Center & Hospital Limited (with a P/E of 29.93), and Shalby Limited (with a P/E of 49.01).

Tentatively, GPT Healthcare IPO basis of allotment of shares will be finalised on Tuesday, February 27, and the company will initiate refunds on Wednesday, February 28, while the shares will be credited to the demat account of allottees on the same day following refund. GPT Healthcare share price is likely to be listed on BSE and NSE on Thursday, February 29.

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%.

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 decisions.

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Published: 19 Feb 2024, 08:33 AM IST
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