GPT Healthcare Ltd. launched its initial public offering on Thursday and it was subscribed 85% on day two. On day 1, it was subscribed 0.37 times.
The IPO worth Rs 525 crore comprises fresh issue of Rs 40 crore and an offer for sale of 2.61 crore shares, which would be around Rs 485 crore. The price band is set at Rs 177–186 per share, with a minimum application lot size of 80 shares.
Out of the total issue size, 50% is reserved for qualified institutional buyers, 35% for retail individual investors, and the remaining 15% is to be allotted to non-institutional investors.
Issue Details
Issue opens: Feb. 22.
Issue closes: Feb. 26.
Total issue size: Rs 525 crore.
Face value: Rs 10 apiece.
Fixed price band: Rs 177–186 per share.
Minimum lot size: 80 shares.
Listing: NSE and BSE.
Use Of Proceeds
The net proceeds from the issue will be utilised towards:
Repayment or prepayment, in part or full, of certain borrowings worth Rs 30 crore. The company has a debt of Rs 46.3 crore as on December 31, 2023.
General corporate purposes.
Subscription Status: Day 2
The IPO was subscribed 0.85 times, or 85%, as of 5 p.m. on Friday.
Institutional investors: 0.19 or 19%.
Non-institutional investors: 0.79 times or 79%.
Retail investors: 1.25 times.
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