GPT Healthcare IPO Details
Issue Date
22 Feb - 26 Feb'24
Price Range
₹177 - ₹186
Lot Size
80
IPO Size
₹525.14 Cr
GPT Healthcare IPO Listing Details
Listing On
29 Feb'24
Issue Price
₹186
Listed Price
₹ 215
Retail Gain/Listing Gain
▲15.59%
Schedule of GPT Healthcare IPO
Start date
22/02/2024
End date
26/02/2024
Allotment of bids
Refund Initiation
28/02/2024
Listing on exchange
29/02/2024
Company Background
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 FY23 (Source: CRISIL Report).
The company operates a chain of mid-sized full-service hospitals under the ILS brand and provides integrated healthcare services, with a focus on secondary and tertiary care.
With that, let's take a look at the competitive strength and risk factors for GPT Healthcare Limited:
Competitive Strengths
Strong foothold in under-penetrated and densely populated healthcare delivery markets
As of September 30, 2023, the company operates four full-service hospitals under the ILS brand, with an aggregate bed capacity of 561. The company’s growth in Eastern India is driven by the company’s prominent presence in densely populated areas of West Bengal, which have underpenetrated markets owing to a low number of private hospitals.
‘Right-sized’, full service and strategically located hospitals leading to high returns on capital
The company right-sizes its hospitals according to the needs of each sub-region in which it operates. For example, the company has entered into long-term leases for some hospitals and utilises land on long-term, low-cost terms to avoid high fixed rental costs, such as the land for its Salt Lake Hospital and Agartala Hospital, which hold leases of 999 years and 99 years, respectively. Accordingly, the company has been able to minimise lease expenses and lease renewal risks that would have otherwise driven up the cost of operations. Mid-sized hospitals also enable the company to incur lower capital expenditure per bed in comparison to other secondary care hospitals in India.
Track record of operating and financial performance and growth
The company has a consistent track record of expanding operations and has increased the bed capacity of hospitals from eight beds in July 2000 to 561 beds as of September 30, 2023. Its EBITDA margins were 22.14% for FY23, and 18.87% for the six months ended September 30, 2023.
Risk Factors
- Approximately 70% of revenue from operations is from hospitals situated in West Bengal.
- The company faces severe competition from other healthcare service providers.
- The bed occupancy rate of the company is lower than some of its peers.
Key Strategies
- Strengthen existing hospitals and their offerings and add new capabilities and specialties.
- Strategically grow presence in adjacent markets.
- Focus on flexible and asset-light expansion for quick break-even.
GPT Healthcare Ltd Key Financials
Here are the key financials for GPT Healthcare Limited:
How to apply for IPO through ASBA
Kotak Neo
•4m 01s
How To Apply for GPT Healthcare Ltd IPO?
Here are the steps to apply for GPT Healthcare Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
GPT Healthcare IPO FAQs
The GPT Healthcare IPO opens for subscription from 22-02-2024 to 26-02-2024, with a total issue size of ₹525.14 Cr. The IPO price band is ₹177 to ₹186 per share with a lot size of 80. The company aims to list the shares on BSE & NSE on 29-02-2024.
The GPT Healthcare IPO will open for subscription on 22-02-2024 and will close on 26-02-2024 for investors.
The minimum lot size for the GPT Healthcare IPO is 80 equity shares, requiring a minimum investment of ₹14880 for retail investors applying in the IPO.
The price band of the GPT Healthcare IPO has been fixed at ₹177 to ₹186 per equity share.
You can apply for the GPT Healthcare IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
GPT Healthcare IPO allotment will take place on [-].
You can check the GPT Healthcare IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
GPT Healthcare shares will list on the stock exchanges on 29-02-2024.
You can find detailed information about the GPT Healthcare IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
The GPT Healthcare Limited IPO has an issue size of Rs. 525 crores. The IPO opens for subscription on 22nd February 2024 and closes on 26th February 2024.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about GPT Healthcare Limited and its IPO from the company’s draft red herring prospectus (RHP) here:
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
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