Kolkata-based GPT Healthcare announces IPO dates. Check details
The company filed its draft red herring prospectus (DRHP) with market regulator Sebi last year.
The IPO, with a face value of Rs 10, consists 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 BanyanTree Growth Capital II, LLC, a Mauritius-based structured private equity.
The price band for the public offer will be announced soon.
The offer is being made through the book-building process, wherein 50% will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional bidders, and 35% for retail investors.
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.
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 (YoY) 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
