GPT Healthcare IPO Subscribed 8.52 Times On Final Day

GPT Healthcare Ltd. launched its initial public offering on Thursday. It was subscribed 0.37 times on day 1 and subscribed 85% on day 2.

The IPO worth Rs 525 crore comprises a fresh issue of Rs 40 crore and an offer for sale of 2.61 crore shares, which would be approximately Rs 485 crore. The public issue closes on Monday.

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.

GPT Healthcare has raised Rs 157.5 crore from anchor investors ahead of its IPO.

• 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.

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 of Dec. 31, 2023.

• General corporate purposes.

The IPO was subscribed 8.52 times as of 7:00 p.m. on Monday.

• Institutional investors: 17.30 times.

• Non-institutional investors: 11.02 times.

• Retail investors: 2.44 times.