GPT Healthcare Ltd IPO Timeline

GPT Healthcare Ltd IPO opens on 22-Feb-2024, and closes on 26-Feb-2024. The GPT Healthcare Ltd IPO bid date is from 22-Feb-2024 to 26-Feb-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
GPT Healthcare Ltd IPO Opening Date 22-Feb-2024
GPT Healthcare Ltd IPO Closing Date 26-Feb-2024
Basis of Allotment 27-Feb-2024
Initiation of Refunds 28-Feb-2024
Credit of Shares to Demat 28-Feb-2024
GPT Healthcare Ltd IPO Listing Date 29-Feb-2024

GPT Healthcare Ltd IPO Lot Size

GPT Healthcare Ltd IPO lot size is 80 shares. A retail-individual investor can apply for up to 13 lots (1040 shares or 193440).

Application Lots Shares Amount
Minimum 1 80 ₹14880
Maximum 13 1040 ₹193440

GPT Healthcare Ltd IPO Details

GPT Healthcare Ltd IPO Date 22-Feb-2024 to 26-Feb-2024
GPT Healthcare Ltd IPO Face Value Shares of ₹10 per share
GPT Healthcare Ltd IPO Price ₹177 to ₹186 per share
GPT Healthcare Ltd IPO Lot Size 80
Issue Size Shares of ₹10 (aggregating up to ₹525.14 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹40 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹485.14 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 5646664
Retail Shares Offered Not less than 9881664
NII (HNI) Shares Offered Not less than 4234999
Company Promoters GPT Sons Pvt Ltd, Dwarika Prasad Tantia, OM Tantia.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment or prepayment in full or in part of all or a portion of certain outstanding borrowings availed by the company from banks and financial institutions
  • 2 General corporate purposes

Company Financials

GPT Healthcare Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2021 317.21 248.86 21.09
03-2020 308.49 216.08 10.96
Amount in ₹ Crore
  • Key regional corporate healthcare company with a strong foothold in under-penetrated and densely populated healthcare delivery markets
  • ight-sized', full service and strategically located hospitals leading to high return on capital
  • Well diversified specialty mix and location mix
  • Ability to attract, train and retain quality medical professionals
  • Track record of operating and financial performance and growth
  • Professional management and experienced leadership
  • Investment in infrastructure, processes and clinical excellence driving affordability, and a strong value proposition for stakeholders
  • The hospital derives approximately 70% of its revenue from operations from its hospitals situated in West Bengal as these serve a significant percentage of its patients. Further, all the hospitals are located in the eastern region of India. Any impact on the revenue from these hospitals or any change in the economic or political conditions of West Bengal could materially affect its business, financial condition, results of operations and cash flows.
  • The name of Ishwari Prasad Tantia, one of the members of its Promoter Group was published in the list of Wilful Defaulters by certain financial institutions. Additionally, NSDL has frozen his demat account due to non-compliance with certain provisions of the Listing Regulations by Tantia Constructions Limited ("Tantia Constructions"), wherein he is a promoter. Any adverse order, direction, notice or penalty by any bank or the RBI, SEBI or any other regulatory authority in the future against any member of the Promoter Group or any entity with which any of its member of the Promoter Group is associated, could have an adverse effect on its reputation, consequently, affecting its business operations.
  • The hospital face competition from other healthcare service providers. If its unable to compete effectively, its business, results of operations and cash flows may be materially and adversely affected.
  • The Bed Occupancy Rate of the Company is lower than some of its listed peers. If its unable to maintain bed occupancy rates at sufficient levels, the hospital may not be able to generate adequate returns on its capital expenditure, which could materially and adversely affect its operating efficiencies and the hospital's profitability.
  • The hospital is dependent on its healthcare professionals, including its doctors that the hospital engage on a consultancy basis. Loss of or its inability to attract or retain such persons could adversely affect its business, financial condition, results of operations and cash flows.
  • The hospital is dependent on availability of nurses to provide quality healthcare services. A decline in the number of trained and available nurses may lead to a decline in its ability to provide required patient care and consequently adversely affect its operations and performance.
  • If the hospital does not receive payments on time from its patients, its financial condition, cash flows and results of operations may be materially and adversely affected.
  • The hospital, its Promoters and Directors are involved in certain legal proceedings, any adverse developments related to which could affect its operations. The hospital could suffer significant litigation expenses in defending these claims and could be subject to significant damage, compensation, or other remedies, which could adversely affect its reputation, business, results from operations, financial conditions and cash flows.
  • Its business is highly dependent on the strength of the hospital brand and reputation. Failure to maintain and enhance its brand and reputation, and any negative publicity and allegations in the media against it, may materially and adversely affect the level of market recognition, and trust in, its services, which could result in a material adverse impact on its business, financial condition, results of operations and prospects.
  • Its Promoter, Chairman and Whole-time Director, Dwarika Prasad Tantia, its Promoter Shree Gopal Tantia, and its Independent Director, Hari Modi are unable to trace their bachelor's degrees and the hospital has relied on affidavits furnished by them for such details of their profile.
  • The hospital is significantly dependent on certain specialties. Any impact on its revenue from such specialties could have a material adverse effect on its business, financial condition, results of operations and cash flows.
  • The hospital may experience delays in construction or commencement of operations of its proposed hospitals or the hospital may not be successful in expanding its operations to other parts of India, in a timely manner or at all, which could have an adverse effect on its business, financial condition, results of operations and cash flows.
  • If the hospital is unable to keep pace with technological changes, new equipment and service introductions, changes in patients' needs and evolving industry standards as well as failure or malfunction of its medical or other equipment, its business and financial condition may be adversely affected.
  • Its industry is highly regulated and requires it to obtain, renew and maintain statutory and regulatory permits, accreditations, licenses and comply with applicable safety, health, environmental, labour and other governmental regulations. Any regulatory changes or violations of such rules and regulations may adversely affect its business, financial condition and results of operations.
  • The Company has been involved in an instance of regulatory non-compliance in the past. Any such non-compliance in the future may have an impact on its business, financials and results of operations.
  • The hospital is dependent on a number of Key Personnel, including its Promoters, Senior Management. Loss of or its inability to attract or retain such persons could adversely affect its business, financial condition, results of operations and cash flows.
  • The hospital outsource some of its service functions to third-party contractors. Any lapse by such third-party service providers may have adverse consequences on its business and reputation.
  • Its Promoters, GPT Sons Private Limited, Dwarika Prasad Tantia and Om Tantia, have provided corporate/personal guarantees in relation to certain loan facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities and may adversely impact its cash flow, business and result of operations.
  • The hospital may fail to protect its intellectual property rights and may be exposed to misappropriation and infringement claims by third parties, either of which may have a material adverse effect on its business and reputation.
  • Its indebtedness and the conditions and restrictions imposed by its financing arrangements may limit its ability to grow its business and adversely impact the hospital's business.
  • Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised by any bank or financial institution or any other independent agency and may be subject to change based on various factors, some of which are beyond its control. Any variation in the utilization of the Net Proceeds or in the terms of the conditions as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including prior shareholders' approval, and its business, financial condition and results of operations may be adversely affected.
  • Certain lands on which two of its hospital buildings are operating are not owned by it but are leased on a long term basis. Further, its Registered Office is located on land owned by GPT Estate Private Limited and held by it on a short-term lease basis. Any adverse impact on the title or ownership rights of the owner or breach of the terms or non-renewal of the lease agreement on commercially favourable terms or at all may lead to disruptions and may materially and adversely impact its business, financial condition, results of operations and cashflows.
  • Its insurance coverage may not adequately cover all damages arising out of the claims against its hospitals. This may have an adverse effect on the hospital's financial condition, results of operations, reputation, cash flows and prospects.
  • Lack of health insurance in India may adversely affect its business, cash flows, financial condition and results of operations.
  • The hospital's has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • Its Statutory Auditor has included emphasis of matter paragraphs in their reports on its Restated Financial Information and its Restated Consolidated Financial Information.
  • The hospital has certain commitments and contingent liabilities that may adversely affect its financial condition.
  • Its ability to pay dividends in the future will depend on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
  • The hospital may requires additional funding to finance its operations, which may not be available on terms acceptable to it, or at all, and if the hospital is unable to raise funds, the value of your investment in it may be negatively impacted.
  • The hospital relies on third party suppliers and manufacturers for its supplies and equipment. Failure of such third parties to meet their obligations could adversely affect its business, results of operations and cash flows.
  • If the hospital fail to achieve favourable pricing on medical consumables, pharmacy items, drugs, and surgical instruments from its suppliers or are unable to pass on any cost increases to its payers, its profitability could be materially and adversely affected.
  • If the hospital is unable to establish and maintain an effective internal control, its business and reputation could be adversely affected.
  • The hospital and its Promoters are exposed to legal claims and regulatory actions arising from the provision of healthcare services and may be subject to liabilities arising from claims of unfair trade practices and medical negligence which could materially and adversely affect its reputation and prospects.
  • The hospital is required to handle personal information, including medical data, as a result of which its could face breach or theft of confidential and other sensitive information of its patients or procedures or any kind of data leakage in the past, any breach of its confidentiality obligations to the hospital patients, including due to data leakages or improper use of such medical information. This could expose it to fines, potential liabilities and legal proceedings, such as litigation or regulatory proceedings, which would adversely impact its reputation.
  • Its Promoters and certain members of its Promoter Group hold Equity Shares in the Company and therefore, are interested in its performance in addition to their remuneration and reimbursement of expenses. Pursuant to their shareholding they will continue to retain control over the Company after completion of the Offer, which will allow them to influence the outcome of matters submitted for approval of its shareholders. Such a concentration of ownership may also have the effect of delaying, preventing, or deterring a change in control.
  • This Red Herring Prospectus contains industry information that has been extracted or derived from an industry report prepared by CRISIL Research, which was commissioned and paid for by the Company exclusively for the purpose of the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
  • The Company will not receive the proceeds from the Offer for Sale. One of its Shareholder is selling shares in the Offer and will receive proceeds as part of the Offer for Sale.
  • This Red Herring Prospectus contains certain non-GAAP measures related to its operations and financial performance that may vary from any standard methodology that is applicable across the industry.
  • The hospital is vulnerable to failures of its information technology system, which could adversely affect its business.
  • Its hospitals are susceptible to risks arising on account of fire and other incidents. Pursuant to the nature of the Company's business any slowdown or shutdown of any unit of its hospitals could interfere with its operations. This may materially and adversely affect its business, cash flows, financial condition, and results of operations.
  • The hospital's may be subject to worker unrests and increased wage expenses which could materially and adversely affect its business, financial condition, results of operations and cash flows.
  • Strengthen its existing hospitals and its offerings and add new capabilities and specialties
  • Strategically grow its presence in adjacent markets
  • Focus on flexible and asset-light expansion for quick break-even
  • Implementation of initiatives to improve existing operational efficiencies
  • Leverage technology to enhance patient and attendant experience through digitalisation, and to grow its operations

GPT Healthcare Ltd IPO Promoter Holding

Pre Issue Share Holding 67.34%
Post Issue Share Holding 65.57%

GPT Healthcare Ltd IPO Subscription Status (Bidding Detail)

The GPT Healthcare Ltd IPO is subscribed 8.52 times on Feb 26, 2024 05:00:00 PM. The public issue subscribed 2.44 times in the retail category, 17.3 times in the QIB category, and 11.02 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 17.3 11.02 2.44 - 8.52

GPT Healthcare Ltd IPO Prospectus

GPT Healthcare Ltd IPO Listing Date

Listing Date 29 Feb 24
BSE Script 544131
NSE Symbol GPTHEALTH
Listing In BSE, NSE
ISIN INE486R01017
IPO Price ₹186
Face Value ₹10

GPT Healthcare Ltd IPO Registrar

Link Intime India Pvt Ltd

Phone: +91 22 810 811 4949
Email: gpthealthcare.ipo@linkintime.co.in
Website: www.linkintime.co.in

GPT Healthcare Ltd IPO Lead Manager(s)

  1. JM Financial Ltd

FAQs on GPT Healthcare Ltd IPO

GPT Healthcare Ltd IPO, which opens for subscription from 22-Feb-2024 to 26-Feb-2024 has an issue size of ₹525.14 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for GPT Healthcare Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

GPT Healthcare Ltd IPO Opens for subscription from 22-Feb-2024 to 26-Feb-2024.

The lot size of GPT Healthcare Ltd is 80 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14880 and ₹193440 respectively.

Allotment date for GPT Healthcare Ltd is 27-Feb-2024 and refund of application amount (in case allotment is not received) will begin from 28-Feb-2024. If your allotment goes through, then shares will be credited in your Demat account by 28-Feb-2024.

The registrar for GPT Healthcare Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of GPT Healthcare Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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