The share price of GPT Healthcare debuted on the market with little fanfare today. GPT Healthcare’s share price opened on the NSE at ₹215, 15.6% more than the ₹186 issue price. GPT Healthcare’s share price opened on the BSE today at ₹216.15, up 16.21% from the issue price.
Analysts predicted that the listing price of GPT Healthcare’s shares would be between ₹190 and ₹195.
The three-day subscription period for the GPT Healthcare IPO was successfully completed. According to data from the BSE, the GPT Healthcare IPO was subscribed to 8.52 times on its third day. 37% of subscribers had purchased the issue on the first day of the GPT IPO, with 85% of subscribers on day 2.
On Thursday, February 22, the GPT Healthcare IPO went live for subscriptions, and on Monday, February 26, it closed. A price band of ₹177 to ₹186 per equity share with a face value of ₹10 was set for the GPT Healthcare IPO. Eighty equity shares made up each lot during the GPT IPO, and thereafter, additional lots of eighty equity shares.
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In the GPT Healthcare Initial Public Offering (IPO), a minimum of 35% of the shares were set aside for retail investors, a maximum of 50% of the shares were reserved for qualified institutional buyers (QIB), and a minimum of 15% for non-institutional institutional investors (NII).
GPT Healthcare Ltd is a provider of integrated healthcare services, emphasizing secondary and tertiary care, and runs a chain of mid-sized full service hospitals under the “ILS Hospitals” brand.
Details of GPT Healthcare’s IPO
The ₹525.14 crore GPT Healthcare IPO consists of an offer-for-sale (OFS) of 26,082,786 equity shares of ₹10, totaling ₹485.14 crore, made by the investor selling shareholder, BanyanTree Growth Capital II, LLC, and a new issue of ₹40 crore.
The company plans to use the net proceeds to finance the following objectives: general corporate objectives; repayment of some of its outstanding loans from banks and financial institutions, either fully or partially.
JM Financial Limited is the book running lead manager for the GPT Healthcare IPO, and Link Intime India Private Ltd. is the issue registrar.
GPT Healthcare’s current IPO GMP
The grey market premium, or GPT IPO GMP, is +17. According to investorgain.com, this shows that the price of GPT Healthcare shares was trading at a premium of ₹17 on the black market.
Based on the upper end of the IPO price range and the current premium in the grey market, the expected listing price for the GPT Healthcare IPO is ₹203 per share, which represents a 9.14% increase over the IPO price of ₹186.
Grey market activity over the past 14 sessions indicates that the IPO GMP is trending upward and that a strong listing is anticipated. The analysts at investorgain.com estimate that the lowest GMP is ₹0 and the highest GMP is ₹19.
The “grey market premium” reflects investors’ willingness to pay a price higher than the initial offering price.
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