GPT Healthcare IPO is a book-built issue of Rs 525.14 crores. The issue is a combination of a fresh issue of 0.22 crore shares aggregating to Rs 40.00 crores and an offer for sale of 2.61 crore shares aggregating to Rs 485.14 crores.
GPT Healthcare IPO opens for subscription on February 22, 2024, and closes on February 26, 2024, and the price band is set at ₹177 to ₹186 per share. The minimum lot size for an application is 80 Shares
Company Summary
This company is one of the key regional corporate healthcare companies in Eastern India regarding the number of beds and hospitals as of the Fiscal Year 2023. They operate a chain of mid-sized full-service hospitals under the brand and provide integrated healthcare services, focusing on secondary and tertiary care.
Furthermore, they offer a comprehensive range of healthcare services across over 35 specialties and super specialties, including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general surgery, gynecology and obstetrics, critical care, gastroenterology, orthopedics and joint replacements, interventional cardiology, neurology, neurosurgery, pediatrics, and neonatology. Each of their hospitals also provides integrated diagnostic services and pharmacies that cater to their patients.
As of September 30, 2023, they operate four multi-specialty hospitals in Dum Dum, Salt Lake, and Howrah in West Bengal and Agartala in Tripura with a total capacity of 561 beds. As of June 30, 2023, the company had 1,855 employees, 85 full-time consultants, and 465 visiting consultants.
Company Strengths
The Hospital company strategically focuses on the relatively under-penetrated healthcare market in Eastern India where they have a presence in three cities which they believe has provided them an understanding of regional nuances, patient culture, and the mindset of medical professionals and where there is under-penetration of quality and affordable healthcare services. This has enabled their revenue from operations (ex-COVID) to grow at a CAGR of 53.87% over Fiscal Year 2021 to Fiscal Year 2023 and ROCE being 26.09% for Fiscal Year 2023.
Each of their hospitals is managed by a Chief Operating Officer, who is responsible for supervising day-to-day functioning. This structure gives them greater control over their hospitals and helps us deliver quality healthcare services.
Their hospitals are equipped with quality medical equipment and employ practices and policies that help them provide quality healthcare services to their patients. They continue to invest in improving their technological capabilities, training their doctors and other healthcare professionals, increasing day-to-day operational efficiencies, and finding new ways to engage and retain patients.
Company Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 332.09 | 326.76 | 323.22 | 317.21 |
| Revenue | 206.70 | 366.73 | 342.40 | 248.86 |
| Profit After Tax | 23.49 | 39.01 | 41.66 | 21.09 |
| Net Worth | 171.43 | 164.14 | 156.96 | 132.68 |
| Reserves and Surplus | 92.75 | 85.46 | 78.28 | 75.96 |
| Total Borrowing | 55.57 | 64.67 | 95.52 | 122.93 |
Amount in ₹ Crore
Objectives of the IPO
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company from banks and financial institutions
- General corporate purposes
Promoters of the Company: GPT Sons Private Limited, Dwarika Prasad Tantia, Dr. Om Tantia, and Shree Gopal Tantia are the Promoters of the Company.
IPO details
| IPO Date | February 22, 2024 to February 26, 2024 |
| Listing Date | Thursday, February 29, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹177 to ₹186 per share |
| Lot Size | 80 Shares |
| Total Issue Size | 28,233,323 shares (aggregating up to ₹525.14 Cr) |
| Fresh Issue | 2,150,537 shares (aggregating up to ₹40.00 Cr) |
| Offer for Sale | 26,082,786 shares of ₹10 (aggregating up to ₹485.14 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 80 | ₹14,880 |
| Retail (Max) | 13 | 1040 | ₹193,440 |
| Small-HNI(Min) | 14 | 1,120 | ₹208,320 |
| small-HNI(Max) | 67 | 5,360 | ₹996,960 |
| Large-HNI (Min) | 68 | 5,440 | ₹1,011,840 |
Allotment Schedule
| Basis of Allotment | Tuesday, February 27, 2024 |
| Initiation of Refunds | Wednesday, February 28, 2024 |
| The credit of Shares to Demat | Wednesday, February 28, 2024 |
| Listing Date | Thursday, February 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 26, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
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