GPT Healthcare IPO Limited is coming up with its Initial public offering. The IPO will be open for subscription on February 22, 2024
GPT Healthcare IPO details
| IPO Dates | 22 – 26 February 2024 |
| Issue Price | INR 177 – 186 per share |
| Fresh issue | INR 40 crore |
| Offer For Sale | 26,082,786 shares |
| Total IPO size | INR 525.14 crore |
| Minimum bid (lot size) | 80 shares (INR 14,928) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Listing On | BSE, NSE |
GPT Healthcare IPO – Date Schedule
| IPO Opening Date | 22 February 2024 |
| IPO Closing Date | 26 February 2024 |
| Finalization of Basis of Allotment | 27 February 2024 |
| Refunds Initiation | 28 February 2024 |
| Transfer of shares to demat accounts | 28 February 2024 |
| Listing Date of IPO | 29 February 2024 |
GPT Healthcare IPO – About Company
GPT Healthcare Limited manages a network of mid-sized, multi-specialty hospitals in Eastern India branded as ILS Hospitals, delivering integrated healthcare services with a focus on secondary and tertiary care.
Offering a wide spectrum of healthcare services across 35 specialties and super-specialties, including internal medicine, nephrology, surgery, obstetrics, and cardiology, along with integrated diagnostic services and pharmacies.
With hospitals situated in Salt Lake, Kolkata; Agartala; Dum Dum, Kolkata; and Howrah, the company boasts a total capacity of 561 beds across these locations as of June 30, 2023.
The workforce comprises 1,855 employees, including 85 full-time consultants and 465 visiting consultants as of the same date.
GPT Healthcare IPO – Industry Overview
An estimated Rs. 892 billion has been allocated to the ministry of health and family welfare for the fiscal year 2024 from Rs. 764 billion revised National Health Mission saw an increase of 9.1% for fiscal 2024 with an allocation of Rs 368 billion from Rs 337 billion as per revised estimates in fiscal 2023.
Government schemes accounted for 34% of the Indian healthcare expenditure in 2021, with PMJAY’s contribution being less than 5%. Insurance accounted for 15-16%, while the major chunk came from cash/out of pocket expenses.
Barring the momentary hiccup in fiscal 2021, CRISIL MI&A estimates the Indian healthcare delivery industry to post healthy 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.
CRISIL MI&A Research estimates the Indian healthcare delivery market to reach ~ Rs 6.3 trillion in value terms by end of fiscal 2024. The healthcare delivery market is expected to reach a market size of ~Rs 7 – 7.2 trillion in fiscal 2025 on back of the fundamental strengths of the sector & inherent structural strengths of the sector in the country.
GPT Healthcare IPO – Financial Performance
| FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 337.42 | 361.04 | 204.18 |
| Expenses | 288.32 | 310.76 | 173.05 |
| Net income | 41.66 | 39.01 | 23.49 |
| Margin (%) | 12.35 | 10.80 | 11.50 |
Figures in INR Crores
GPT Healthcare IPO – Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.64 | 5.21 | 4.88 |
| PE ratio | – | – | 36.27 – 38.11 |
| RONW (%) | 15.90 | 26.54 | 23.77 |
| NAV | 16.60 | 19.64 | 20.54 |
| ROCE (%) | 14.48 | 25.04 | 26.09 |
| EBITDA (%) | 22.14 | 23.02 | 21.83 |
| Debt/Equity | 0.92 | 0.60 | 0.39 |
GPT Healthcare IPO – Competitive Strengths
- Key regional corporate healthcare company with a strong foothold in under-penetrated and densely populated healthcare delivery markets.
- ‘Right-sized’, full service and strategically located hospitals leading to high return on capital.
- Well diversified specialty mix and location mix.
- Ability to attract, train and retain quality medical professionals.
- Track record of operating and financial performance and growth.
- Professional management and experienced leadership.
- Investment in infrastructure, processes and clinical excellence driving affordability, and a strong value proposition for stakeholders.
Object Of The Issue
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company from banks and financial institutions; and
- General corporate purposes.
GPT Healthcare IPO GMP
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 23 feb | 15 | – | – |
GPT Healthcare IPO – Allotment Status
GPT Healthcare IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
GPT Healthcare IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Min) | 1 | 80 | 14,880 |
| Retail (Max) | 13 | 1,040 | 1,93,440 |
| S-HNI (Min) | 14 | 1,120 | 2,08,320 |
| S-HNI(Max) | 67 | 5,360 | 9,96,960 |
| B-HNI(Min) | 68 | 5,440 | 10,11,840 |
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