GPT Healthcare IPO Opens Feb 22, 2024, Price Band Rs.177-186

Kolkata-based GPT Healthcare, which manages and operates multi-specialty hospitals under the ILS Hospitals brand, has fixed the pay band at Rs. 177- ~ Rs. 186 per share capital with a face value of Rs. 10/- each for initial public offering.

The Company's initial public offering (IPO or offering) will open for subscription on Thursday, February 22, 2024 and close on Monday, February 26, 2024. Investors may apply for at least 80 shares or more after 80 weeks.

This number includes new equity shares worth Rs. $40 million and an offer for sale (OFS) of up to 26.08 million shares through selling investors.Under DRHP, from new issues up to Rs. 30 million will be used to advance or repay all or part of certain loans the Company operates, in addition to general corporate purposes.

Founded by Dwarika Prasad Tantia, Dr. Om Tantia and Shree Gopal Tantia, GPT Healthcare started as an 8-bed hospital in Salt Lake City, Kolkata, in the year 2000. We currently operate multi-service and multi-specialty hospitals. A total of 561 beds. More than 35 specialties, including internal medicine, diabetes, gastroenterology, orthopedics and joint replacement, interventional cardiology, neurology, neurosurgery, pediatrics and neonatology.

According to a company statement, revenue rose 7.3% to Rs. 3,610.37 crore in FY2023 to Rs. $3,374.15 billion in fiscal year 2022, due to increased revenue from hospital services due to increased patient numbers. Revenue from pharmaceutical sales increased. For the six months ending September 30, 2023, its operating income was Rs. 2,041,760,000, and the net profit was Rs. 234.85 million.

.