Kolkata based Hospital Company GPT Healthcare files DRHP with SEBI for the proposed IPO; Key Details here

GPT Healthcare is into Healthcare & Pharmaceuticals Hospital and is looking raise funds through Fresh Issue and Offer for Sale

GPT HealthcareIPO: Fresh Issue of Equity shares aggregating up to Rs.40 crores. Offer of Sale of 26,082,786 Equity Shares through public issue IPO

GPT Healthcare IPO: GPT Healthcare Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Promoters of GPT Healthcare are GPT Sons Private Limited, Dwarika Prasad Tantia, Dr. Om Tantia and Gopal Tantia and holds 67.34% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 40 crores and an Offer for Sale up to 26,082,786 Equity Shares..
• JM Financial have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 40 Crs and offer-for-sale (OFS) of up to 26,082,786 equity shares by BanyanTree Growth Capital II, LLC (Investor selling shareholder) who is offloading 26,082,786 equity shares...

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Objects of the issue:
1) Repayment of debt - Rs30 crs, and 2) General corporate purposes.

About Company:
GPT Healthcare is one of the key regional corporate healthcare companies in Eastern India in terms of number of beds and hospitals as of Fiscal Year 2023. It 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. As of September 30, 2023, it operates four multispecialty hospitals in Dum Dum, Salt Lake and Howrah in West Bengal and Agartala in Tripura, with a total capacity of 561 beds, offering a comprehensive range of healthcare services across over 35 specialties and super specialties

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About Industry:
The healthcare delivery market in India is expected to grow at a CAGR of 9%-11% between Fiscal Years 2024 and 2028 and reach ₹ 9.2-9.3 trillion in Fiscal Year 2028. The share of treatments (in value terms) by private players is expected to increase from 64% in Fiscal Year 2018 to nearly 70% in Fiscal Year 2028. The East and North-East region of India also contributed ~15.3% to India’s GDP in Fiscal Year 2022 and has witnessed GSDP growth at a CAGR of 5.1% from Fiscal Year 2012 to Fiscal Year 2022. North-eastern states have ranked lower on Niti Ayog health index indicating under penetration of healthcare facilities. CRISIL Research expects healthcare in North-East to witness higher growth potential. Healthcare delivery industry in India faces many challenges, mainly: inadequate health infrastructure and unequal quality of services provided based on affordability and healthcare financing.

Source: SEBI, BSE, NSE, DRHP, GPT Healthcare, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.