GPT Healthcare Makes Strong Debut, Listing at Over 15% Premium on Stock Exchanges

29 Feb 2024 , 09:51 AM

GPT Healthcare made a robust debut on the D-Street, with its stock listing at a significant premium. On the NSE, the stock opened at ₹215, marking a 15.59% increase from the issue price of ₹186. Similarly, on the BSE, it debuted at ₹216.15, reflecting a premium of 16.21%.

During the IPO, which concluded on February 26th, the price band was set between ₹177 and ₹186 per share. Through a combination of a fresh issue of 21.5 lakh shares worth ₹40 Crore and an offer-for-sale of 2.6 Crore shares worth ₹485.14 Crore, the company successfully raised approximately ₹525.14 Crore.

The public response to the offering was robust, with the subscription rate reaching 8.5 times overall. Notably, retail investors subscribed 2.4 times, while non-institutional investors bid 11 times, and qualified institutional buyers oversubscribed their allotted quota by 17 times.

GPT Healthcare, also known as ILS Hospitals, holds a prominent position as one of the leading regional corporate healthcare entities in Eastern India, based on the number of beds and hospitals as of fiscal year 2023. Specializing in integrated healthcare services, particularly secondary and tertiary care, the company operates a chain of mid-sized full-service hospitals under its brand.