GPT Healthcare raises Rs 157 crore from anchor investors ahead of IPO

Eastern India focused GPT Healthcare, which operates and manages mid-sized multispecialty hospitals under the ILS Hospitals brand, has garnered Rs. 157.54 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, February 22, 2024. The company informed the bourses that it allocated 84,69,996 equity shares at Rs. 186 per share on Wednesday, February 21, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Kotak Mutal Fund, Axis Mutual Fund, Bandhan Mutual Fund, Aditya Birla Life Insurance, Societe Generale, Duro One Investments Limited, India Capital Growth Fund, Copthall Mauritius, LC Pharos Multi Strategy Fund, Subhkam Ventures and DE Shaw.

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Out of the total allocation of 84,69,996 equity shares to the anchor investors, 38,09,760 equity shares were allocated to 3 domestic mutual funds through a total of 7 schemes amounting to Rs. 70.86 crore (approx.) i.e. 44.98% of the Total Anchor Book Size.

The issue consists of a fresh issue of equity shares worth ₹ 40 crore and an offer for sale (OFS) of up to 26.08 million equity shares by investor selling shareholders.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, February 22, 2024, and closes on Monday, February 26, 2024. The price band for the Offer has been determined at Rs 177 – Rs 186 per equity share.

The IPO will fetch Rs 525.14 crore at the upper end of the price band.