1Closing Bell: GPT Healthcare IPO Wraps Up Subscription with Promising Demand

  • GPT Healthcare IPO closes with ₹525.14 crore valuation.
  • Subscription rate at 0.85 times; retail investors lead.
  • Funds for debt repayment, corporate objectives.
  • Diverse medical services in 35+ specialties.
  • Anchor investors include Kotak, Axis Mutual Funds.
  • JM Financial leads the IPO; BSE, NSE listing planned.

Introduction :

GPT Healthcare’s initial public offering (IPO) has concluded its public subscription period today. The IPO, valued at ₹525.14 crores and priced at ₹177-186, received a subscription rate of 0.85 times. Here’s a complete overview of the IPO’s details and subscription status.

IPO Composition :

The IPO includes a fresh issue of ₹40 crores and an offer for sale (OFS) of up to 2.608 crore shares, totaling ₹485.14 crores from selling shareholders and investors.

Subscription Status :

The IPO got bids for 1.68 crore shares in response to its offer of 1.97 crore shares (excluding the anchor component). BanyanTree, which owns a 32.64% stake in GPT Healthcare, is selling its entire stake in this IPO.

Offering Process :

The offering uses the Book Building Process, with up to 50% reserved for Qualified Institutional Buyers (QIBs), 15% for non-institutional bids, and 35% for retail investors.

Subscription breakdown :

1.Retail investors subscribed 1.25 times.
2.High-net-worth individuals (NIIs) bid 0.79 times.
3.The QIB component was subscribed 0.19 times.

Anchor Investors’ Participation :

GPT Healthcare received ₹157.54 crores from anchor investors and issued over 84.70 lakh shares at ₹186 each. Key anchor investors include Kotak Mutual Fund, Axis Mutual Fund, and Aditya Birla Life Insurance, among others.

Utilisation of funds :

The cash will be used to repay or prepay outstanding borrowings from banks and financial institutions, as well as for general corporate reasons.

Services offered by GPT Healthcare :

GPT Healthcare provides a wide range of medical treatments in over 35 disciplines and super specialties. Internal medicine, diabetology, nephrology, general and laparoscopic surgery, obstetrics and gynaecology, critical care, gastroenterology, orthopaedics, interventional cardiology, neurology, neurosurgery, paediatrics, and neonatology are among the specialties.

Key facilitators :

JM Financial Ltd is the sole book-running lead manager for the issue, with Link Intime India Private Limited acting as the offer’s registrar. The equity shares are proposed for listing on both the BSE and NSE.

Finally, the completion of the GPT Healthcare IPO represents an important milestone for the firm as it seeks to grow its presence in the healthcare industry.

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