GPT Healthcare Ltd IPO
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GPT Healthcare Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 282.33 L | ₹ 260.83 L | ₹ 98.82 L | ₹ 538.06 L | BSE | ₹ 525.14 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 22 Feb, 24 | 26 Feb, 24 | 80 | ₹ 14,160 | Book Building | 29 Feb, 24 |
GPT Healthcare Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Healthcare |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 6.92x | 14116662 | 97684000 |
| NII | 11.02x | 4234999 | 46658640 |
| Retail | 2.44x | 9881663 | 24129600 |
| Employee | 0x | 0 | 0 |
| Total | 5.97x | 28233323 | 168472240 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
GPT Healthcare Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 86.03 | 70.88 | 337.42 |
| EBITDA | 104.01 | 85.79 | 81.26 |
| PAT | 47.77 | 39.01 | 41.66 |
| Total Assets | 85.40 | 98.10 | 112.58 |
| Share Capital | 82.05 | 79.90 | 79.90 |
| Total Borrowings | 56.25 | 124.32 | 159.04 |
| Operating Activities (Net Cash) | 65.75 | 53.92 | 55.25 |
| Investing Activities (Net Cash) | 23.95 | 10.83 | 9.67 |
| Financing Activities (Net Cash) | 56.25 | 124.32 | 159.04 |
| Net Cashflow | 9.13 | 8.85 | 8.71 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About GPT Healthcare Ltd
GPT Healthcare Limited was originally incorporated as Jibansatya Printing House Private Limited, a private limited company under the Companies Act, 1956 on August 17, 1989 at Kolkata, West Bengal. The name of the Company was subsequently changed to GPT Healthcare Private Limited so that the name of the Company is in consonance with the main objects of the Memorandum of Association in relation to the proposed business activities to be carried out by the Company. A fresh certificate of incorporation was issued by the Registrar of Companies, West Bengal at Kolkata (RoC) on March 31, 2005. Thereafter pursuant to a special resolution passed by its Shareholders on September 3, 2021, the Company was converted to a public limited company and its name was changed to GPT Healthcare Limited. A fresh certificate of incorporation consequent to change of name was issued by the RoC on September 15, 2021.
The healthcare delivery market in India is expected to grow at a CAGR of 9%-11% between Fiscal Years 2024 and 2028 and reach Rs. 9.2-9.3 trillion in Fiscal Year 2028. The share of treatments (in value terms) by private players is expected to increase from 64% in Fiscal Year 2018 to nearly 70% in Fiscal Year 2028. The East and North-East region of India also contributed ~ 15.3% to India's GDP in Fiscal Year 2022 and has witnessed GSDP growth at a CAGR of 5.1% from Fiscal Year 2012 to Fiscal Year 2022. North-eastern states have ranked lower on Niti Ayog health index indicating under penetration of healthcare facilities. CRISIL Research expects healthcare in North-East to witness higher growth potential. Healthcare delivery industry in India faces many challenges, mainly: inadequate health infrastructure and unequal quality of services provided based on affordability and healthcare financing.
GPT Healthcare Limited operates a chain of mid-sized full service hospitals under the ILS Hospitals brand and provide integrated healthcare services, with a focus on secondary and tertiary care. As of September 30, 2023, the company operates four multispecialty hospitals in Dum Dum, Salt Lake and Howrah in West Bengal and Agartala in Tripura, with a total capacity of 561 beds, offering a comprehensive range of healthcare services across over 35 specialties and super specialties. Each of its hospitals also provides integrated diagnostic services and pharmacies catering to its patients.
Peer Comparison:
- Global Health Ltd
- Krishna Institute of Medical Sciences Ltd
- Jupiter Life Line Hospitals Ltd
- Yatharth Hospital & Trauma Care Services Ltd
- Kovai Medical Center & Hospital Ltd
- Shalby Ltd
GPT Healthcare Ltd IPO Key Points
Strengths
- 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
Risk
- 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.
Strategy
- 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
- 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
How To Apply for GPT Healthcare Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.