Shares Of Gujarat Kidney & Super Speciality In Focus; GMP Indicates Flat-To-Discounted Dalal Street Debut?

Gujarat Kidney and Super Speciality Ltd. is set to make its market debut today, Tuesday, December 30, following the successful subscription of its Rs 250.8-crore initial public offering (IPO).

The mainboard issue, which was open from December 22 to December 24, was overall subscribed 5.21 times. The IPO received bids for 6,89,69,088 shares against 1,32,26,880 shares on offer.    

The company finalised the share allotment status for its IPO on December 26. Shares of Gujarat Kidney and Super Speciality Ltd. are scheduled to be listed on the BSE and NSE on December 30.

Ahead of the listing of Gujarat Kidney and Super Speciality shares, here is a look at the latest grey market premium (GMP).

The latest grey market premium (GMP) for the Gujarat Kidney and Super Speciality IPO stood at Rs 1.5 as of 8:30 a.m. on December 30, according to InvestorGain. With the upper limit of the price band of Rs 114, the stock is expected to be listed at Rs 115.5. This means that the shares of Gujarat Kidney and Super Speciality are likely to get listed on the BSE and NSE with 1.32% premium.

Note: GMP does not represent official data and is based on speculation.

The Gujarat Kidney and Super Speciality IPO was a book-built issue worth Rs 250.8 crore. The IPO comprised entirely a fresh issue of 2.2 crore shares, with no offer-for-sale (OFS) component. The price band for the IPO was fixed between Rs 108 and Rs 114 per share, while the IPO lot size comprised 128 shares each.

For retail investors, the minimum application size was a single lot of  128 shares, amounting to an investment of Rs 14,592 at the upper limit of the issue price.

Qualified Institutional Buyers (QIBs) booked the issue 1.06 times, while the Non-Institutional Investors’ (NIIs) category was subscribed 5.73 times. Retail investors booked their quota 19.04 times.

Nirbhay Capital Services Pvt. Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. has been appointed as the issue registrar.

The company is planning to use net proceeds from the issue toward the proposed acquisition of Parekhs Hospital in Ahmedabad. A portion of the funds will also be used to make payment for the purchase of shares of the already acquired Ashwini Medical Centre and capital expenditure requirements toward setting up a new hospital in Vadodara.

Gujarat Kidney and Super Speciality Ltd., incorporated in 2019, specialises in providing multi-speciality healthcare services in Gujarat. It operates seven multi-speciality hospitals with a total capacity of 490 beds.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.