GPT Healthcare Shares End At 7.66% Premium Over IPO Price

Shares of GPT Healthcare Ltd. listed at Rs 216.15 apiece on Thursday on the BSE, a premium of 16.2% over the IPO price of Rs 186 apiece.

On the National Stock Exchange, the stock debuted at Rs 215 per share, a 15.6% premium.

The shares ended at a premium of 7.66% over the IPO price on the BSE, although it declined 7.36% from its listing price to end at Rs 200.25 apiece.

The Rs 525-crore IPO was subscribed 8.52 times on its third and final day. Bids were led by institutional investors (17.30 times), non-institutional investors (11.02 times), retail investors (2.44 times).

The margin trajectory aligns closely with the patterns observed in the first year, according to Chief Financial Officer Atul Tantia. He expects this trend to persist throughout the year.

The CFO also expressed confidence in the organisation's financial position. "By FY25, we aim to achieve a debt-free status, relieving ourselves of the existing debt burden."

The company owns a chain of mid-sized full-service hospitals under the brand name ILS Hospitals in eastern India.

As of Sept. 30, 2023, it operates four multispecialty hospitals in Dum Dum, Salt Lake and Howrah in West Bengal, and Agartala, with a total capacity of 561 beds.

It provides healthcare services across over 35 specialties and super specialties, with the hospitals having integrated diagnostic services and pharmacies.

The company's average revenue per occupied bed as of September 2023 was Rs 32,979, while the bed occupancy is at 59.92%.

The company is also planning to set up two greenfield projects in Raipur and Ranchi, with a bed capacity of 152 beds and 140 beds respectively.

The net proceeds from the issue will be utilised towards:

• Repayment or prepayment, in part or full, of certain borrowings worth Rs 30 crore. The company has a debt of Rs 46.3 crore as of Dec. 31, 2023.

• General corporate purposes.