Shares of GPT Healthcare debuted on Dalal Street on Thursday, February 29, at a higher price than what the grey market and analysts had anticipated.
The 24-year-old mid-sized multispecialty hospital chain listed on the Bombay Stock Exchange (BSE) at ₹216.15, a premium of 16%, over its issue price of ₹186 per share. On the NSE, the listing gains were 15.59%.
Ahead of its debut, the shares of GPT Healthcare were trading with a premium of ₹17 in the grey market.
The grey market is an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the GMP to get an idea of the listing price.
GPT Healthcare listed at a better price than what analysts had estimated
By the time the subscription window closed, investors had bid for 168.4 million shares, more than 8.52 times the 19.7 million on offer for investors. This doesn't include the allotment made to anchor investors like Aditya Birla Sun Life Insurance, Kotak Small Cap Fund, and Societe Generale.
Analysts expected the shares to list at a 5% premium to its IPO price. That would have around ₹195 compared to the final listing price over ₹215.
Speaking to CNBC-TV18, Anurag Tantia of GPT Healthcare said the current occupency is at around 60% and he expects occupancy to move to 70% with the Howrah hospital ramping up.
Tantia now also expect margins to improve from current levels of 22%.
Company overview
Founded by Dwarika Prasad Tantia, Dr Om Tantia, and Shree Gopal Tantia, GPT Healthcare has gone from owning an eight-bed-hospital in Kolkata in the year 2000 to four full-service multispecialty centres, branded as ILS Hospitals, with a total capacity of 561 beds.
The company would be comparable to listed peers like Global Health, Krishna Institute of Medical Sciences, Jupiter Life Line Hospitals, Yatharth Hospital and Trauma Care Services and Shalby.
GPT Healthcare saw its net profit posted a CAGR of 36% to ₹39 crore and EBITDA 20.53% to ₹80 crore for the year ended FY23. CAGR stands for compounded annual growth rate. Its net profit during the six months ended FY24 rose 38% year-on-year to ₹23.5 crore and revenue in the same period surged 18.7% to ₹204.2 crore.
| Company | Value | Change | %Change |
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The 24-year-old mid-sized multispecialty hospital chain listed on the Bombay Stock Exchange (BSE) at ₹216.15, a premium of 16%, over its issue price of ₹186 per share. On the NSE, the listing gains were 15.59%.
Ahead of its debut, the shares of GPT Healthcare were trading with a premium of ₹17 in the grey market.
The grey market is an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the GMP to get an idea of the listing price.
GPT Healthcare listed at a better price than what analysts had estimated
By the time the subscription window closed, investors had bid for 168.4 million shares, more than 8.52 times the 19.7 million on offer for investors. This doesn't include the allotment made to anchor investors like Aditya Birla Sun Life Insurance, Kotak Small Cap Fund, and Societe Generale.
Analysts expected the shares to list at a 5% premium to its IPO price. That would have around ₹195 compared to the final listing price over ₹215.
Speaking to CNBC-TV18, Anurag Tantia of GPT Healthcare said the current occupency is at around 60% and he expects occupancy to move to 70% with the Howrah hospital ramping up.
Tantia now also expect margins to improve from current levels of 22%.
Company overview
Founded by Dwarika Prasad Tantia, Dr Om Tantia, and Shree Gopal Tantia, GPT Healthcare has gone from owning an eight-bed-hospital in Kolkata in the year 2000 to four full-service multispecialty centres, branded as ILS Hospitals, with a total capacity of 561 beds.
The company would be comparable to listed peers like Global Health, Krishna Institute of Medical Sciences, Jupiter Life Line Hospitals, Yatharth Hospital and Trauma Care Services and Shalby.
Financials
| CAGR net profit | ₹39 crore |
| EBITDA CAGR | ₹80 crore |
| Net profit (1st 6 months of FY24) | ₹23.5 crore |
| Revenue | ₹204.2 crore |
GPT Healthcare saw its net profit posted a CAGR of 36% to ₹39 crore and EBITDA 20.53% to ₹80 crore for the year ended FY23. CAGR stands for compounded annual growth rate. Its net profit during the six months ended FY24 rose 38% year-on-year to ₹23.5 crore and revenue in the same period surged 18.7% to ₹204.2 crore.
First Published: Feb 29, 2024 10:05 AM IST
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