GPT Healthcare is into Healthcare & Pharmaceuticals Hospital and is looking raise funds through Fresh Issue and Offer for Sale
GPT Healthcare IPO is a public offering of shares by GPT Sons Private Limited, Dwarika Prasad Tantia, Dr. Om Tantia and Gopal Tantia. The IPO will open on February 22 and will close on February 26. The price band is ₹177 to ₹186 per share and the lot size is 80 shares. The issue size is ₹525.14 crore. The shares are expected to be listed on NSE, BSE on February 29 (^). Some additional information that you may find useful are:
1) BanyanTree Growth Capital invested in 2014 and holds 32.64% of pre-offer shareholding in the company.
2) 91 full time consultants and 481 visiting consultants
3) 561 beds across 4 hospitals
4) Occupancy of around 59.7% in 9MFY24 and 58.9% in FY23 and expect to improve further
5) Expect to become debt free post this issue: (**) - based on higher price band (^) indicative date
Key Pointers of GPT Healthcare IPO:
Promoters of the company are GPT Sons Private Limited, Dwarika Prasad Tantia, Dr. Om Tantia and Gopal Tantia Currently promoters hold 67.34% stake in the company. While post-equity promoters stake will be 65.57%
Company has not undertaken Pre-IPO placement.
- Company aims to raise between Rs 502 to 525 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Repayment of debt - Rs30 crs and 2) General corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 21-Feb-24.
- Price band for the IPO has been fixed at Rs 177 to 186 per share and bid lot are in multiple of 80 shares. The implied market cap post-issue at Rs 1,454 to 1,526 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on February 27 and share are expected to be listed on NSE, BSE on February 29.
- Company has direct peer competition in India'a Hospital sector. In Listed space peers include Global Healthcare, KIMS, Jupiter Life Line Hospitals among others.
- JM Financial has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
About GPT Healthcare Limited
GPT Healthcare LimitedGPT 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
1) BanyanTree Growth Capital invested in 2014 and holds 32.64% of pre-offer shareholding in the company.
2) 91 full time consultants and 481 visiting consultants
3) 561 beds across 4 hospitals
4) Occupancy of around 59.7% in 9MFY24 and 58.9% in FY23 and expect to improve further
5) Expect to become debt free post this issue
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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, IPO Status, Industry Data |
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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.
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