GPT Healthcare IPO: The preliminary public providing of GPT Healthcare Ltd has been opened on Thursday, February 22. The worth band of the IPO has been fastened at Rs 177-186 per share. Till 3:37 pm on the primary day of bidding on Thursday, the Rs 525.14-crore IPO obtained 0.32 instances subscription, garnering bids for 63,28,560 shares as in opposition to 1,97,63,327 shares on provide.
The IPO might be closed on Monday, February 26, 2024.
The retail class has obtained 0.59 instances subscription and the non-institutional quota received 0.13 instances 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-specialty 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 16 larger within the gray market as in contrast with its challenge worth. The Rs 16 gray market premium or GMP means the gray market is anticipating a 8.6 per cent itemizing acquire from the general public challenge. The GMP is predicated on market sentiments and retains altering.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the problem worth.
GPT Healthcare IPO: Should You Subscribe?
Assigning the ‘subscribe long-term’ score, brokerage Anand Rathi in a be aware 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 components of India. The mattress occupancy charges want to enhance to replicate 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 be aware 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 recent challenge of fairness shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of as much as 2.6 crore fairness shares by non-public 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 whole shareholding within the firm.
Proceeds from the recent challenge to the tune of Rs 30 crore might be used for fee 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 business 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 problem 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 no less than 80 fairness shares and in multiples of 80 fairness shares thereafter.
Its complete 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 ebook-working lead supervisor to the problem. 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 3:37 pm)
