GPT Healthcare (MAINBOARD)
Feb 22, 2024 - Feb 26, 2024
| Price | ₹177 - ₹186 |
| Premium | ₹18.5 |
|---|---|
| Lot size | 80 |
| Allotment | Feb 27, 2024 |
| Listing | Feb 29, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 80 | 14880 | 123521 |
| sHNI | 14 | 1120 | 208320 | 1260 |
| bHNI | 68 | 5440 | 1011840 | 2521 |
Last Updated as on 26-Feb-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 5646664 | 97684000 | 17.3 |
| HNIs | 4234999 | 46654160 | 11.02 |
| HNIs (10+L) | 2823333 | 33818720 | 11.98 |
| HNIs (2-10L) | 1411666 | 12835440 | 9.09 |
| Retail | 9881664 | 24089440 | 2.44 |
| Total | 19763327 | 168427600 | 8.52 |
| Total Application : 258,361 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹4.32 | @8% ₹4.94 | @9% ₹5.55 | @10% ₹6.17 | @11% ₹6.79 | @12% ₹7.41 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹4792 |
GPT Healthcare IPO Anchor
| Name of the Anchor Investor | No. of Equity Shares allocated | % of Anchor Investor Portion | Total Amount Allocated (Rs. in Crores) |
|---|---|---|---|
| ADITYA BIRLA SUN LIFE INSURANCE COMPANY LTD | 11,65,600 | 13.76% | 21.68 |
| KOTAK SMALL CAP FUND | 11,56,160 | 13.65% | 21.50 |
| SOCIETE GENERALE- ODI | 8,06,460 | 9.52% | 15.00 |
| Duro One Investments Limited | 8,06,448 | 9.52% | 14.99 |
| INDIA CAPITAL GROWTH FUND LIMITED | 8,06,448 | 9.52% | 14.99 |
| Bandhan Small Cap Fund | 6,28,000 | 7.41% | 11.68 |
| BANDHAN INFRASTRUCTURE FUND | 5,37,600 | 6.35% | 9.99 |
| AXIS MUTUAL FUND TRUSTEE LTD. A/C AXIS MUTUAL FUND A/C AXIS MULTI ASSET ALLOCATION FUND | 3,88,480 | 4.59% | 7.23 |
| AXIS MUTUAL FUND TRUSTEE LTD. A/C AXIS MUTUAL FUND A/C Axis Balanced Advantage Fund | 3,88,480 | 4.59% | 7.23 |
| AXIS MUTUAL FUND TRUSTEE LTD. A/C AXIS MUTUAL FUND A/C Axis Value Fund | 3,88,640 | 4.59% | 7.23 |
| KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK HEALTHCARE FUND | 3,22,400 | 3.81% | 5.99 |
| COPTHALL MAURITIUS INVESTMENT LIMITED - ODI ACCOUNT | 2,68,820 | 3.17% | 5.00 |
| LC Pharos Multi Strategy Fund VCC - LC Pharos Multi Strategy Fund SF 1 | 2,68,820 | 3.17% | 5.00 |
| SUBHKAM VENTURES (I) PRIVATE LTD. | 2,68,820 | 3.17% | 5.00 |
| D E SHAW VALENCE INTERNATIONAL (SPV) LLC | 2,68,820 | 3.17% | 5.00 |
| 84,69,996 | 100.00% | 157.54 |
Incorporated in 1989, GPT Healthcare Limited operates a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand, providing integrated healthcare services focusing on secondary and tertiary care.
Based in Kolkata, West Bengal, the company offers a range of healthcare services in over 35 specialties and super-specialties, including internal medicine and diabetology, nephrology (including kidney transplant), laparoscopic and general surgery, gynaecology and obstetrics, intensive care, gastroenterology, orthopaedics and joint replacement, interventional cardiology, neurology, neurosurgery, paediatrics, and neonatology. It also offers integrated diagnostic services and pharmacies.
GPT Healthcare's hospitals are located in four cities, namely
- Salt Lake, Kolkata (West Bengal) with a capacity of 85 beds, including 17 beds in various ICUs and HDUs (as of June 30, 2023)
- Agartala (Tripura) with a capacity of 205 beds (as of June 30, 2023), including 66 beds in various ICUs and HDUs
- Dum Dum, Kolkata (West Bengal) with a capacity of 155 beds, including 53 beds in various ICUs and HDUs as of June 30, 2023
- Howrah (West Bengal) with a capacity of 116 beds, including 43 beds in various ICUs and HDUs, as of June 30, 2023.
As at June 30, 2023, the company operates four multidisciplinary hospitals with a total capacity of 561 beds, offering a comprehensive range of healthcare services in over 35 specialties and super-specialties.
As at June 30, 2023, the company had 1,855 employees, 85 full-time consultants, and 465 visiting consultants.
GPT Healthcare IPO Details
| Issue Size | [28233323] shares (aggregating up to ₹[525.14] Cr) |
| Fresh Issue | [2150537] shares (aggregating up to ₹40.00 Cr) |
| Offer for Sale | 26,082,786 shares of ₹10 (aggregating up to ₹[485.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 79,904,286 |
| Share holding post issue | 82054823 |
GPT Healthcare 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 |
GPT Healthcare IPO Lead Manager(s)
- Jm Financial Limited
Key Performance Indicator
| KPI | 2023 | 2022 | 2021 |
|---|---|---|---|
| ROCE | 26.09% | 25.04% | 14.48% |
| ROE | 23.59% | 26.34% | 15.75% |
| D/E | 0.39 | 0.60 | 0.92 |
| EPS Basic & Diluted | 4.88 | 5.21 | 2.64 |
| RONW | 23.77% | 26.54% | 15.90% |
| P/E | 38.10 | ||
| P/BV | 9.06 |
Company Financials
GPT Healthcare Limited Financial Information (Restated Consolidated)
GPT Healthcare Limited's revenue increased by 7.11% and profit after tax (PAT) dropped by -6.37% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 30 Jun 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 325.13 | 326.76 | 323.22 | 317.21 |
| Revenue | 97.63 | 366.73 | 342.40 | 248.86 |
| Profit | 9.98 | 39.01 | 41.66 | 21.09 |
| Net Worth | 165.88 | 164.14 | 156.96 | 132.68 |
| Reserves | 87.20 | 85.46 | 78.28 | 75.96 |
| Borrowing | 57.60 | 64.67 | 95.52 | 122.93 |
| Amount in ₹ Crore | ||||
Strength Factors
Strategic Market Position: The company holds a significant presence in regional corporate healthcare, particularly in under-penetrated and densely populated markets, bolstering its market influence and potential for growth.
Optimized Hospital Infrastructure: With 'right-sized', full-service hospitals strategically situated, the company achieves notable returns on capital investment, reflecting its efficient operational model and financial stability.
Diversified Specialty and Location Mix: Its well-diversified portfolio of specialties and strategic location mix enhances resilience against market fluctuations, ensuring a balanced revenue stream and sustained performance.
Talent Magnetism: The company's ability to attract, train, and retain top-tier medical professionals underscores its commitment to quality patient care and operational excellence, contributing to its competitive edge and long-term success.
Risk Factors
Regional Economic and Political Conditions: The provider's heavy reliance on hospitals in West Bengal makes it vulnerable to economic and political shifts in the region, potentially disrupting operations and financial performance.
Specialty Dependency: Relying heavily on specific medical specialties exposes the provider to fluctuations in demand and services, posing risks to revenue streams and financial stability.
Dependency on Healthcare Professionals: The provider's operational dependence on healthcare professionals, especially consultancy-based doctors, threatens continuity of care and operational efficiency if key personnel are lost or difficult to attract.
Nurse Availability and Quality of Care: Dependence on the availability of trained nurses raises risks of care quality decline and regulatory issues if shortages occur, impacting operational effectiveness and reputation.
Regulatory and Compliance Risks: Compliance with stringent healthcare regulations is crucial; failure to do so can lead to legal consequences, financial penalties, and reputational harm, undermining long-term viability and stability.
GPT Healthcare IPO Lead Manager(s)
- Jm Financial Limited
CLICK HERE TO DOWNLOAD ANCHOR LIST
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gpthealthcare.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html