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When Does GPT Healthcare’s IPO Open? Should You Apply? Check the Subscription Status and GMP Today

<p><strong>GPT Healthcare IPO:</strong> On Thursday, February 22, GPT Healthcare Ltd.’s first public offering was made available. The initial public offering’s price range is set at Rs 177–186 per share. The Rs 525.14-crore initial public offering (IPO) garnered 0.19 times subscription up till 12:07 pm on Thursday, the first day of bidding. Bids were received for 37,11,200 shares compared to the 1,97,63,327 shares that were on offer.</p>
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<p><strong>On February 26, 2024, a Monday, the IPO will end.</strong></p>
<p>The non-institutional quota garnered 0.05 subscriptions, while the retail sector earned 0.35 subscriptions.</p>
<p>The GPT Healthcare initial public offering (IPO) will be allotted on February 27 and listed on the NSE and BSE on February 29, 2024.</p>
<p>A day ahead of the IPO, on Wednesday, anchor investors contributed Rs 157.54 crore to GPT Healthcare, which runs and oversees mid-sized multispecialty hospitals under the ILS Hospitals brand.</p>
<p><strong>IPO GMP for GPT Healthcare Today</strong></p>
<p>Market watchers report that unlisted shares of GPT Healthcare Ltd. are being traded on the gray market for Rs 186 per share, or zero GMP. Because there is now no listing benefit anticipated by the gray market from the public issuance, there is no grey market premium. The GMP is dynamic and dependent on market mood.</p>
<p>The willingness of investors to pay above the issue price is shown by the “grey market premium.”</p>
<p><strong>Should You Subscribe to the GPT Healthcare IPO?</strong></p>
<p>“At the upper price band, the company is valuing at P/E of 39.1 times with a market cap of Rs 1,526.2 crore post issue of equity shares and return on net worth of 23.7% in FY23,” brokerage Anand Rathi said in a note, assigning the recommendation of “subscribe long-term.” Regarding value, we think the business is priced appropriately. Therefore, we advise the IPO to get a “subscribe for long term” grade.</p>
<p>However, another brokerage, StoxBox, has rated the IPO as “Avoid.” It said that the business has not yet effectively expanded to other regions of India. In order to demonstrate improved financial success, the bed occupancy rates must increase. “A ‘avoid’ rating is what we advise for this concern. But, we would reevaluate the business based on persistent improvements in financial indicators.</p>
<p>“Investors should also look at IPO offer, which come with a 100% OFS issue, which is an area of concern for new investors,” Mehta Equities said in a note indicating a “subscribe” rating. In light of all of the above, we advise cautious investors to hold off on buying shares until after it lists and only very risk-taking investors should “subscribe” to the IPO for the long term.</p>
<p><strong>Details about GPT Healthcare’s IPO</strong></p>
<p>The IPO consists of an offer for sale (OFS) by private equity company BanyanTree Growth Capital II of up to 2.6 crore equity shares and a new issuance of equity shares totaling Rs 40 crore.</p>
<p>BanyanTree is selling all of its shares in Kolkata-based GPT Healthcare, which it owns 2.6 crore shares in, or 32.64 percent of the firm.</p>
<p>The Rs 30 crore in new issue proceeds would be utilized for general company objectives and debt repayment.</p>
<p>At the lower end of the pricing range, the IPO is expected to raise Rs 501.67 crore, and at the top end, Rs 525.14 crore.</p>
<p>In 2000, Dwarika Prasad Tantia, Dr. Om Tantia, and Shree Gopal Tantia established GPT Healthcare, which began as an eight-bed hospital in Kolkata. With a bed capacity of 561, it now runs four full-service multispecialty hospitals.</p>
<p>Global Health Ltd., Krishna Institute of Medical Sciences Ltd., Jupiter Life Line Hospitals Ltd., Yatharth Hospital & Trauma Care Services Ltd., and Shalby Ltd. are some of the company’s stated industry competitors.</p>
<p>Retail investors will get 15% of the offer, non-institutional investors would receive 35%, and qualifying institutional purchasers will receive half of the issue. Following the minimum of 80 equity shares, investors may bid in multiples of 80 equity shares.</p>
<p>From Rs 337.41 crore in FY22 to Rs 361.03 crore in FY23, its total revenue climbed by 7.3%.</p>
<p>The issue’s lone book-running lead manager is JM Financial. It is suggested that the equity shares be listed on the NSE and BSE.</p>