GPT Healthcare to debut tomorrow. Here's what GMP indicates ahead of listing
GPT Healthcare will debut on the exchanges on Thursday. Ahead of the listing, the company's shares are trading with a premium of Rs 17 in the unlisted market.
Considering the upper price band of Rs 186, the stock is expected to list at a premium of 9-10%.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of GPT Healthcare sailed through on the last day of the bidding process with an overall subscription of 8.5 times at close.
The proceeds from the fresh issue will be used for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company besides general corporate purposes.
Also Read: GPT Healthcare IPO allotment: Check status, GMP and other details
GPT Healthcare operates four full-service multispecialty hospitals, with a total capacity of 561 beds and attends to over 35 specialties and super specialties such as internal medicine, diabetology, gastroenterology, orthopedics and joint replacements, interventional cardiology, neurology, neurosurgery, pediatrics and neonatology.
The company competes with listed industry peers such as Global Health, Krishna Institute of Medical Sciences, Jupiter LifeLine Hospitals, and Yatharth Hospital among others.
Its total income increased 7% year-on-year to Rs 367 crore in fiscal 2023, primarily due to a rise in income from hospital services. Net profit for the same period, however, fell to Rs 39
