GPT Healthcare IPO Day 2: The preliminary public providing of GPT Healthcare Ltd, which was opened for public subscription on February 22, couldn’t be absolutely subscribed even on the second day. Till 6:05 pm on the second day of bidding on Friday, February 23, the Rs 525.14-crore IPO acquired 0.85 occasions subscription, garnering bids for 1,68,50,320 shares as towards 1,97,63,327 shares on supply.
The IPO can be closed on Monday, February 26, 2024. The value band of the IPO has been fastened at Rs 177-186 per share.
The retail class has acquired 1.25 occasions subscription and the non-institutional quota obtained 0.79 occasions subscription. The QIB quota acquired 0.19 occasions subscription.
The allotment of the GPT Healthcare IPO will happen on February 27, whereas its itemizing will happen on each NSE and BSE on February 29, 2024.
GPT Healthcare, which operates and manages mid-sized multi-speciality hospitals beneath the ILS Hospitals model, on Wednesday collected Rs 157.54 crore from anchor buyers a day earlier than the IPO.
GPT Healthcare IPO GMP Today
According to market observers, unlisted shares of GPT Healthcare Ltd are buying and selling Rs 12 greater within the gray market as in contrast with its difficulty value. The Rs 12 gray market premium or GMP means the gray market is anticipating a 6.45 per cent itemizing acquire from the general public difficulty. The GMP is predicated on market sentiments and retains altering.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the difficulty value.
GPT Healthcare IPO: Should You Subscribe?
Assigning the ‘subscribe long-term’ score, brokerage Anand Rathi in a word stated, “At the upper price band, the company is valuing at P/E of 39.1 times with a market cap of Rs 1,526.2 crore post issue of equity shares and return on net worth of 23.7 per cent in FY23. On the valuation front, we believe that the company is fairly priced. Thus, we recommend an ‘subscribe for long term’ rating to the IPO.”
Another brokerage StoxBox, nevertheless, has given the ‘Avoid’ score to the IPO. It stated the corporate is but to increase its operations efficiently to different elements of India. The mattress occupancy charges want to enhance to mirror higher monetary efficiency. “We recommend an ‘avoid’ rating for the issue. However, we would reassess the company on improvement in financial metrics over a sustained period.”
Giving a ‘subscribe’ score, Mehta Equities in its word stated, “Investors should also look at IPO offer, which come with a 100 per cent OFS issue, which is an area of concern for new investors. Hence, considering all parameters we recommend only high risk investors can ‘subscribe’ to the IPO for the long term while conservative investors can wait and watch the stock post listing.”
GPT Healthcare IPO Details
The IPO is a mixture of a contemporary difficulty of fairness shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of as much as 2.6 crore fairness shares by personal fairness agency 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 total shareholding within the firm.
Proceeds from the contemporary difficulty to the tune of Rs 30 crore can be used for cost of debt and common company functions.
The IPO will mobilise Rs 501.67 crore on the decrease finish of the value band and Rs 525.14 crore on the higher finish.
GPT Healthcare, based by Dwarika Prasad Tantia, Dr Om Tantia and Shree Gopal Tantia, began with an eight-mattress hospital in Kolkata in 2000. Today it operates 4 full-service multi-specialty hospitals, with a complete capability of 561 beds.
The firm competes with listed trade friends, together with Global Health Ltd, Krishna Institute of Medical Sciences Ltd, Jupiter Life Line Hospitals Ltd, Yatharth Hospital & Trauma Care Services Ltd and Shalby Ltd.
Half of the difficulty has been reserved for certified institutional consumers, 35 per cent for non-institutional buyers and the remaining 15 per cent for retail buyers. Investors can bid for at least 80 fairness shares and in multiples of 80 fairness shares thereafter.
Its whole earnings elevated 7.3 per cent to Rs 361.03 crore in FY23 from Rs 337.41 crore in FY22.
JM Financial is the only guide-working lead supervisor to the difficulty. The fairness shares are proposed to be listed on the BSE and the NSE.
(The story has been up to date with the most recent subscription and GMP knowledge until 6:05 pm)
