GPT Healthcare IPO made its debut on the bourses with a premium of 15.6% at Rs 215. The book-built IPO raised Rs 525.14 crores from the investors. The company opened the IPO for bidding to offer 28.3 million shares on February 22 and closed it on February 26.
The stocks of the company were seeing a premium of 9.14% in the grey market. It is an unofficial market where shares trade illegally before listing. The market participants track the grey market to take cues.
The shares of the company got listed on both exchanges – BSE and NSE.
GPT Healthcare set the IPO price band at Rs177 to 186 per equity share. In which, a retail investor had to bid for a minimum of 80 shares summing to Rs 14,880 if multiplied by the upper price band.
The collected money will be utilised to pay the debt, which the company availed from banks and other financial institutions. The company will also use the raised money for general corporate purposes.
The company operates a chain of hospitals in Eastern India with the name of ILS Hospitals.
JM Financial was the book-running lead manager for the issue, while Link Intime India was the registrar.