GPT Healthcare IPO retail portion fully booked on second day of bidding
₹177-186, according to the data available on the stock exchanges. Overall, the issue was subscribed 0. 85 times at the end of the second day for subscription.
Also read: GPT Healthcare IPO Day 2: Check latest GMP, subscription status, other details; should you subscribe? Meanwhile, the Non-Institutional Investors portion was subscribed 0.79 times, Qualified Institutional Buyer portion was subscribed 0.19 times. The issue will close on Monday, February 26, 2024. On the first day, GPT Healthcare IPO subscription status was 37%.
The issue's retail portion was subscribed 66%, non-institutional investors (NIIs) portion was booked 18%, and Qualified Institutional Buyer (QIBs) portion is yet to receive bids. Brokerage firms like Reliance Securities, Nirmal Bang, AnandRathi and SMIFS have given a “Subscribe" rating to GPT Healthcare Ltd, given its strong positioning in underserved and populous healthcare delivery markets. GPT Healthcare IPO, which is worth ₹525.14 crore, comprises a fresh issue of ₹40 crore, and an offer-for-sale (OFS) of 26,082,786 equity shares of ₹10 aggregating up to ₹485.14 crore by the investor selling shareholder, BanyanTree Growth Capital II, LLC.
The company intends to use the net proceeds to finance the following goals: general corporate objectives; full or partial repayment or payback of some existing loans obtained by the company from banks and financial institutions. Also read: GPT Healthcare Limited garners ₹157 crore from anchor investors before IPO GPT Healthcare Ltd 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. Between March 31, 2022, and March 31, 2023, GPT Healthcare
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