GPT operates four multispecialty hospitals, with a total capacity of 561 beds
MUMBAI, Feb 19 (The CONNECT) – Eastern India focused GPT Healthcare, which operates and manages mid-sized multispecialty hospitals under the ILS Hospitals brand, will launch its IPO on Thursday with the price band of ₹177- to ₹186 per Equity Share of face value ₹10.
Investors can bid for a minimum of 80Equity Shares and in multiples of 80 Equity Shares thereafter for the issue that will close on Monday.
The offering consists of a fresh issue of equity shares worth ₹ 40 crore and an offer for sale (OFS) of up to 26.08 million shares by investors.
About Rs 30 crore from the fresh issue will be used for settling some loans.
JM Financial is the sole book running lead manager and Link Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.
GPT Healthcare, founded by Dwarika Prasad Tantia, Dr Om Tantia and Shree Gopal Tantia started with an 8 bed hospital at Salt Lake, Kolkata in 2000. It 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, orthopaedics and joint replacements, interventional cardiology, neurology, neurology, neurosurgery, paediatrics and neonatology, said Anurag Tantia (pictured) Director, GPT Healthcare Limited
Dr. Om Tantia, has over four decades of experience as a surgeon and is a specialist in the field of laparoscopic surgery. He has been the president of the Association of Minimal Access Surgeons of India along with multiple accolades to his credit, including the honorary professorship bestowed by the Indian Medical Association.
GPT Healthcare’s total income increased 7.3% to Rs 3610.37 million in fiscal year 2023 from ₹3374.15 million in fiscal year 2022, primarily due to the increases in income from hospital services, aided by increase in patient volume; increase in income from pharmacy sales. For the six months ended September 30, 2023, revenue from operations stood at ₹ 2,041.76 million and net profit at ₹ 234.85 million.
The size of the IPO based on the upper and lower end of the price band
Fresh | OFS (26,082,786 equity shares) | Total | |
Lower Band (@Rs 177) | Rs 40 crore | Rs 461.67 crore | Rs 501.67 crore |
Upper Band (@Rs 186) | Rs 40 crore | Rs 485.14 crore | Rs 525.14 crore |