Discover the frenzy surrounding the GPT Healthcare IPO as subscription numbers soar to unprecedented levels! Find out why investors are rushing to get a piece of the action and what this means for the future of healthcare investments. Don’t miss out on this exclusive insight into one of the most talked-about IPOs of the year!
GPT Healthcare IPO Subscription: A Recap
The GPT Healthcare IPO opened for subscription on Thursday, February 22, and it’s set to close today, Monday, February 26. Impressively, the IPO saw full booking on its final day, with a notable surge in interest from Non-Institutional Investors and Qualified Institutional Buyers.
Initially, the retail portion of the IPO was completely booked by the second day, although the overall subscription numbers struggled to reach 100%, standing at 85% on day 2. By the third day, however, the subscription status skyrocketed, reaching 8.52 times the offered shares.
According to data from the BSE, the retail portion was booked 2.44 times, the Non-Institutional Investors (NII) portion was booked 11.02 times, and the Qualified Institutional Buyers (QIB) portion was booked 17.30 times. This indicates a substantial interest from various investor categories.
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The price band for the GPT Healthcare IPO was set at ₹177 to ₹186 per equity share, with a lot size of 80 equity shares and multiples thereafter. This pricing structure aimed to attract a wide range of investors.
Allocation and Reserved Shares
During the initial phase, the IPO raised ₹157.54 crores from anchor investors. The company allocated a significant portion of shares to qualified institutional buyers (QIB), non-institutional investors (NII), and retail investors, in line with regulatory requirements.
GPT Healthcare Ltd operates a chain of mid-sized full-service hospitals under the ‘ILS Hospitals’ brand, focusing on secondary and tertiary care. While the company’s profit after tax (PAT) experienced a slight decline of -6.37% between March 2022 and March 2023, its revenue witnessed a healthy growth of 7.11%.
The net proceeds from the IPO are intended to be used for general corporate objectives and the repayment of existing loans obtained from banks and financial institutions, among other purposes.
The book-running lead manager for the GPT Healthcare IPO is JM Financial Limited, with Link Intime India Private Ltd serving as the issue’s registrar. This team aims to ensure a smooth and successful IPO process.
The GPT IPO GMP, or grey market premium, currently stands at +9, indicating a premium of ₹9 in the grey market. This suggests investor optimism and potential for a listing price of around ₹195 per share, representing a 4.84% increase from the IPO price.
The GPT Healthcare IPO has garnered significant attention from investors across different categories, reflecting confidence in the company’s business prospects. With strong subscription numbers and a positive grey market premium, all indicators point towards a successful listing and a promising future for GPT Healthcare Ltd.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and BSE/NSE have contributed to the above report
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