GPT Healthcare files DRHP, plans to raise up to Rs 500 cr via IPO

By: |
October 19, 2021 2:30 AM

SBI Capital Markets and DAM Capital Advisors (formerly IDFC Securities) are the book running lead managers to the IPO.

GPT Healthcare ipoGPT Healthcare currently operates a network of three hospitals under the ILS Hospital brand in West Bengal and one in Tripura

GPT Healthcare, which operates mid-sized ILS Hospitals, has filed preliminary papers with Sebi to raise Rs 450-500 crore through an initial public offering (IPO).

The issue includes a fresh issue of equity shares aggregating up to Rs 17.5 crore and an offer for sale (OFS) of up to around 2.99 crore equity shares, according to the draft red herring prospectus (DRHP).

As part of the OFS, promoter GPT Sons will offload up to 38 lakh equity shares and existing investor BanyanTree Growth Capital II, LLC, a Mauritius-based structured private equity, will sell up to 2.61 crore equity shares. The PE firm will be fully exiting via the IPO.

The Kolkata-based company proposes to utilise the net proceeds towards purchasing of medical equipment and funding general corporate purposes.

The company’s promoters are GPT Sons, Dwarika Prasad Tantia, Om Tantia and Shree Gopal Tantia. As on October 14, 2021, GPT Sons held 5.38 crore shares or a 67.34% stake on a fully diluted basis, post compulsorily convertible preference shares conversion. BanyanTree Growth Capital II, LLC held a 32.64% stake in the company.

According to the DRHP, the company is not contemplating a pre-IPO placement.

SBI Capital Markets and DAM Capital Advisors (formerly IDFC Securities) are the book running lead managers to the IPO.

GPT Healthcare currently operates a network of three hospitals under the ILS Hospital brand in West Bengal and one in Tripura. Its revenue from operations increased to Rs 242.75 crore last fiscal from Rs 211.84 crore in the previous fiscal. Profit rose to Rs 21.09 crore in FY21 from Rs 10.96 crore in FY20.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Two IPOs to hit market next week to raise Rs 7,868 crore
2Tega Industries sets price band at Rs 443-453 for Rs 619-crore IPO
3Tega Industries sets IPO price band at Rs 443-453/share