The GPT Healthcare IPO has set its price band between Rs 177 to Rs 186 per equity share with a face value of Rs 10. The subscription period for the IPO is scheduled from Thursday, February 22, to Monday, February 26, while the allocation to anchor investors will take place on Wednesday, February 21.
The floor price of the IPO stands at 17.7 times the face value, and the cap price is 18.6 times the face value. Based on diluted EPS for fiscal 2023, the price/earnings ratio at the floor price is 36.27 times and at the cap price is 38.11 times, compared to the average industry peer group P/E ratio of 56.36.
The IPO lot size is set at 80 equity shares, with multiples of 80 equity shares thereafter. The allocation for the public issue reserves not more than 50 per cent of shares for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional investors (NII), and not less than 35 per cent for retail investors.
GPT Healthcare aims to raise approximately Rs 40 crore through a fresh issue and plans to issue up to 2.61 crore shares as part of an offer-for-sale (OFS) to raise additional funds. The net proceeds will be utilized for general corporate purposes and for full or partial repayment of existing loans obtained from banks and financial institutions.
Operating under the 'ILS Hospitals' brand, GPT Healthcare manages a chain of mid-sized full-service hospitals, providing integrated healthcare services with a focus on secondary and tertiary care. Offering a wide range of medical services in over 35 specialties and super specialties, the company operates four multispecialty hospitals in West Bengal's Howrah, Dum Dum, Salt Lake, and Agartala, with a combined bed capacity of 561 as of September 30, 2023.
