GPT Healthcare IPO on its inaugural day of bidding on Thursday saw an 11 per cent subscription, with retail investors contributing 21 per cent and high net-worth individuals securing 0.04 times the allotted quota. The IPO, slated to conclude on February 26, features a price band set at Rs 177-186 per share. The company's objective is to generate about Rs 525.14 crore. This will be accomplished through a fresh issue of 21.5 lakh shares valued at Rs 40 crore and an offer-for-sale of 2.6 crore shares valued at Rs 485.14 crore.
BanyanTree Growth Capital II LLC will divest its entire holding of over 2.60 crore equity shares, constituting 32.64 per cent of the paid-up equity, marking the exit of the Mauritius-based private equity fund from the company.
Preceding the IPO, the company secured Rs 157.54 crore from various anchor investors on February 21. Notable foreign and domestic institutional investors in the anchor book included Societe Generale, Kotak Mutual Fund, Axis Mutual Fund, Bandhan Duro One Investments, Copthall Mauritius, Kotal Mutual Fund, Aditya Birla Life Insurance, LC Pharos Multi Strategy Fund, and DE Shaw Valence International.
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The net proceeds from the IPO will be allocated towards the repayment or prepayment of specific outstanding borrowings from banks and financial institutions, with the remainder dedicated to general corporate objectives.
GPT Healthcare on Wednesday collected Rs 157.54 crore from anchor investors a day before its IPO.
JM Financial serves as the book-running lead manager for the GPT Healthcare IPO, while Link Intime India assumes the role of registrar for the issue.
GPT Healthcare operates medium-sized, full-service hospitals in Eastern India under the ILS Hospitals brand. Headquartered in Kolkata, the company specializes in providing integrated healthcare services, emphasizing secondary and tertiary care.