IPO Details
Bidding Dates
21 Feb '24 - 25 Feb '24
Minimum Investment
₹14,880 / 1 Lot ( 80 Shares )
Price Range
₹177 - ₹186
Maximum Investment
₹193,440 / 13 Lots ( 1040 Shares )
Retail Discount
Not Applicable
Issue Size
₹525.14 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Feb 21, 2024
Closing Date
Feb 25, 2024
Basis of Allotment
Feb 26, 2024
Initiation of Refunds
Feb 27, 2024
Credit of Shares to Demat
Feb 27, 2024
Listing Date
Feb 28, 2024
Cut-off time for UPI mandate confirmation
Feb 25, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Feb 21, 2024 |
0.00x | 0.18x | 0.64x | 0.36x |
Day 2Feb 22, 2024 |
0.19x | 0.79X | 1.25x | 0.85X |
Day 3Feb 25, 2024 |
17.30x | 10.97x | 2.42x | 8.50x |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers | 17.30x |
| Non-Institutional Buyers | 10.97x |
| Retail Investors | 2.42x |
| Total | 8.50x |
About GPT Healthcare Ltd
GPT Healthcare is one of the key regional corporate healthcare companies in Eastern India in terms of the number of beds and hospitals as of Fiscal Year 2023. They operate a chain of mid-sized full-service hospitals where they provide integrated healthcare services with a focus on secondary and tertiary healthcare. As of September 30, 2023, they operate 4 multispeciality hospitals located in Dum Dum, Salt Lake and Howrah in West Bengal as well as Agartala in Tripura, with an overall capacity of 561 beds.
They offer a comprehensive set of healthcare services across over 35 specialities and super specialities. These areas include internal medicine and diabetology, nephrology (including renal transplants), gynaecology and obstetrics, laparoscopic and general surgery, critical care, gastroenterology, orthopaedics and joint replacements, neurology, interventional cardiology, neurosurgery, paediatrics, and neonatology. Each of their hospitals also provides diagnostic services and pharmacies.
It is estimated that the Indian healthcare delivery industry will grow at a 9-11% compound annual growth rate between fiscals 2024 and 2028, driven by long-term structural factors, strong fundamentals, increasing affordability and potential of the Ayushman Bharat scheme. An organised player in such a growing industry has great growth potential.
GPT Healthcare Ltd IPO Details
GPT Healthcare Ltd IPO Dates
The dates for bidding for the GPT Healthcare IPO are February 22, 2024, to February 26, 2024.
GPT Healthcare Ltd IPO Price Band
GPT Healthcare is a book-built IPO. The exact price range is ₹73 to ₹77 per share.
GPT Healthcare Ltd IPO Lot Size
The GPT Healthcare Ltd IPO lot size is 80 shares per lot.
GPT Healthcare Ltd IPO Objectives
The net proceeds from the fresh issue portion of the IPO are proposed to be utilised towards the following objectives:
- Repayment, fully or partially, of certain outstanding borrowings of the company taken from banks and financial institutions.
- General corporate purposes.
Peer Details
The following are the listed peer companies of GPT Healthcare in India:
- Global Health Limited
- Krishna Institute of Medical Sciences Limited
- Jupiter Life Line Hospitals Limited
- Yatharth Hospital & Trauma Care Services Limited
- Kovai Medical Center & Hospital Limited
- Shalby Limited
How To Check the Allotment Status of the GPT Healthcare Ltd IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of GPT Healthcare Ltd
Registered office: GPT Centre, JC-25, Sector III, Salt Lake, Kolkata – 700106, West Bengal
Phone: + (91) 33 4050 7000
E-mail: ghl.cosec@gptgroup.co.in
IPO Financials
| Particulars | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Revenue | 3,667.31 | 3,424.03 | 2,488.63 |
| Net Profit | 390.08 | 416.63 | 210.93 |
| Inventory Turnover Ratio | 8.50 | 12.00 | 8.91 |
| Debt Service Coverage Ratio | 1.70 | 1.72 | 1.93 |
Know before investing
Strengths
3-
The company’s operations are strategically located in Eastern India where there is a high unmet demand for organised healthcare services. The company has over 20 years of expertise in providing healthcare services in Eastern India since 2000. This puts it at an advantage in serving a major market.
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Their services are highly diversified, with multiple healthcare delivery verticals that serve multiple economic segments. Their operations encompass primary to tertiary services and position them to be a one-stop destination for patient needs. They offer a comprehensive set of healthcare services across over 35 specialities and super specialities. This increases their opportunities for revenue as well as reduces concentration risk.
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In FY 2023, FY 2022, and FY 2021, 94.74%, 94.63%, and 87.90% respectively, of their revenue from operations was from private insurance patients or walk-in cash patients. This leads to a shorter receivables cycle and largely uninterrupted cash flow for the company.
Risks
3-
They derive approximately 70% of their revenue from operations from the West Bengal hospitals, serving a significant percentage of their patients. This represents a significant geographical concentration and can be counted as a risk to their operations.
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Having a diversified set of offerings puts GPT Healthcare in competition against various hospitals, clinics, diagnostic chains, and dispensaries of varying sizes and specialities. Too much competition can limit their long-term growth potential.
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The bed occupancy rate of the company is lower than some of their listed peers. This shows a significant issue for the company in a competitive environment.
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GPT Healthcare Ltd IPO FAQs
GPT Healthcare IPO is a book-built IPO. The dates for the IPO are February 22, 2024, to February 26, 2024.
The basis of allotment will be finalised on Tuesday, February 27, 2024. The shares will be credited to the demat accounts on Wednesday, February 28, 2024.
The IPO subscription window is from February 22, 2024, to February 26, 2024.
The lot size for the IPO will be 80 shares per lot.
GPT Healthcare Ltd will be listed on the NSE and BSE on Thursday, February 29, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Thursday, February 29, 2024.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
