GPT IPO Day 2: Check GMP, subscription status, key details; Apply or not?

Also Read: GPT Healthcare IPO opens today. GMP, review, subscription status, other details. Apply or not?

GPT Healthcare IPO price band has been fixed in the range of 177 to 186 per equity share of face value of 10. GPT IPO lot size is 80 equity shares and in multiples of 80 equity shares thereafter.

GPT Healthcare IPO raised 157.54 crores from anchor investors on Thursday, February 22. The company notified the exchanges that it allocated 84,69,996 equity shares at 186 apiece.

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GPT Healthcare IPO details.

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GPT Healthcare IPO details.

GPT Healthcare IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Also Read: GPT Healthcare IPO opens today: GMP, issue details, 10 key things to know before investing in 525-crore issue

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 Limited’s profit after tax (PAT) dropped by -6.37% while its revenue climbed by 7.11%.

GPT Healthcare IPO details

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.

GPT Healthcare IPO’s book running lead manager is JM Financial Limited, and the issue’s registrar is Link Intime India Private Ltd.

Also Read: GPT Healthcare IPO: 10 key risks from the RHP you should know before subscribing

GPT Healthcare IPO GMP today

GPT IPO GMP or grey market premium is + 19. This indicates GPT Healthcare share price was trading at a premium of 19 in the grey market, as per

Considering the upper end of the IPO price band and the current premium in the grey market, the GPT Healthcare IPO expected listing price is indicated at 205 apiece, which is 10.22% higher than the IPO price of 186.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: GPT Healthcare IPO subscribed 36% till now on Day 1; check GMP and other details

GPT Healthcare IPO Review 

Anand Rathi Share and Stock Brokers Ltd

The brokerage stated that GPT Healthcare offers comprehensive healthcare services, emphasising secondary and tertiary care, and runs a chain of mid-sized full-service hospitals under the same brand.

In the future, the firm hopes to fortify its current hospitals by introducing additional services and specialisations, strengthening its competence in a few chosen areas, and further balancing the specialist mix.

“At the upper price band, company is valuing at P/E of 39.1x with a market cap of 15,262 million post issue of equity shares and return on net worth of 23.7% in FY23. On the valuation front, we believe that the company is fairly priced. Thus, we recommend an “Subscribe – Long Term” rating to the IPO,” the brokerage said. 

Hensex Securities

The brokerage states that GPT Healthcare is a significant regional corporate healthcare organisation with a solid presence in the underdeveloped and highly populated healthcare delivery market. It also has a well-diversified specialty mix and location mix, as well as the capacity to draw in, develop, and hold on to top-notch medical professionals. 

“However, the healthcare delivery market in India is expected to grow at a CAGR of 9%–11% between fiscal years 2024 and 2028 and reach 9.2-9.3 trillion in fiscal year 2028. We suggest a ‘Subscribe’ to the issue with long-term investment perspective,” the brokerage said. 

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 23 Feb 2024, 09:04 AM IST

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