GPT Healthcare IPO Opens Feb 22, Price Band Rs 177-186

New Delhi, Feb 19 (PTI) GPT Healthcare Ltd, which operates and manages mid-sized multi-specialty hospitals under the ILS Hospitals brand, on Monday fixed a price band at Rs 177-186 per share for its initial public offering (IPO) that opens for subscription on February 22.
The initial share-sale will conclude on February 26 and the bidding for anchor investors will open for a day on February 21, the company said in a statement.
The IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm 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 entire shareholding in the company.
Proceeds from the fresh issue to the tune of Rs 30 crore will be used for payment of debt and general corporate purposes.
The IPO will mobilise Rs 501.67 crore at the lower end of the price band and Rs 525.14 crore at the upper end.
GPT Healthcare, founded by Dwarika Prasad Tantia, Dr Om Tantia and Shree Gopal Tantia, started with an eight-bed hospital in Kolkata in 2000. Today it operates four full service multi-specialty hospitals, with a total capacity of 561 beds.
The company competes with listed industry peers, including 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 issue has been reserved for qualified institutional buyers, 35 per cent for non-institutional investors and the remaining 15 per cent for retail investors.


Investors can bid for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter.
Its total income increased 7.3 per cent to Rs 361.03 crore in FY23 from Rs 337.41 crore in FY22.
JM Financial is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the BSE and the NSE.