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Business News/ Markets / Stock Markets/  GPT Healthcare IPO subscribed 36% till now on Day 1; check GMP and other details
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GPT Healthcare IPO subscribed 36% till now on Day 1; check GMP and other details

The initial public offering (IPO) of GPT Healthcare received a tepid response from the investors during the first day of bidding. The issue was subscribed just 36 percent till now on day one (February 22). It received bids worth 71.94 lakh shares as against 1.97 crore shares on offer.

The initial public offering (IPO) of GPT Healthcare received a tepid response from the investors during the first day of bidding. The issue was subscribed just 36 percent till now on day one (February 22). It received bids worth 71.94 lakh shares as against 1.97 crore shares on offer. (PTI)Premium
The initial public offering (IPO) of GPT Healthcare received a tepid response from the investors during the first day of bidding. The issue was subscribed just 36 percent till now on day one (February 22). It received bids worth 71.94 lakh shares as against 1.97 crore shares on offer. (PTI)

The initial public offering (IPO) of GPT Healthcare received a tepid response from the investors during the first day of bidding. The issue was subscribed just 36 percent till now on day one (February 22). It received bids worth 71.94 lakh shares as against 1.97 crore shares on offer.

The retail investors' category was bid the most at 65 percent followed by the non-institutional investors portion, which was subscribed just 18 percent till now. However, the quota set aside for qualified institutional bidders (QIBs) was yet to attract any bids as of the same time.

The issue opened for subscription today, February 22 and the three-day bidding process will close on Monday, February 26. The mid-sized multi-specialty hospital has fixed the price band of its public issue at 177 to 186 per equity share.

Read here: Platinum Industries sets price band at 162-171 for its 235 crore IPO

GPT Healthcare IPO Details

The IPO is looking to raise 525.14 crore, which includes a fresh share sale of 40 crore and offer-for-sale (OFS) of up to 2.60 crore equity shares worth 485.14 crore by BanyanTree Growth Capital II.

The public offer garnered 157.54 crore from anchor investors ahead of its IPO. The company informed the bourses that it allocated 84,69,996 equity shares at 186 per share on Wednesday, February 21, 2024, to anchor investors.

The offer is being made through the Book Building Process, wherein not more than 50 percent of the offer shall be available for allocation to Qualified Institutional Buyers, not less than 15 percent of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35 percent of the Offer shall be available for allocation to Retail Individual Bidders.

Read here: GPT Healthcare IPO: GMP, review, subscription, other details. Apply or not?

A bidder will be able to apply in lots and one lot of the public issue comprises 80 shares. The minimum amount of investment required by retail investors is 14,880.

Link Intime India Private Limited has been appointed as the official registrar of the book build issue.

The tentative date for share allocation is 27th February 2024 i.e. on Tuesday next week and it is likely to be listed on BSE and NSE on Thursday, February 29.

About GPT Healthcare

Incorporated in 1989, GPT Healthcare Limited operates a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand, providing integrated healthcare services focusing on secondary and tertiary care. It has four hospitals of which two are located in Kolkata, one in Howrah and one in Agartala (Tripura).

Read here: Stock Check: JSW Infra jumps 100% from IPO price in 5 months; should you buy?

Based in Kolkata, West Bengal, the company offers a range of healthcare services in over 35 specialties and super-specialties, including internal medicine and diabetology, nephrology (including kidney transplant), laparoscopic and general surgery, gynaecology and obstetrics, intensive care, gastroenterology, orthopaedics and joint replacement, interventional cardiology, neurology, neurosurgery, paediatrics, and neonatology. It also offers integrated diagnostic services and pharmacies.

GPT Healthcare GMP Today

The grey market premium of GTL Healthcare has jumped to 24 from 0 in the previous session. This implies a 12.9 percent premium in its listing price. At his GMP, the stock is estimated to list at 210 versus its IPO price of 186.

However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

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Published: 22 Feb 2024, 05:14 PM IST
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