GPT Healthcare IPO Details, Timeline, Price, GMP, FAQs

22/02/2024 MarketInsiderz

GPT Healthcare Limited

GPT Healthcare IPO Details

IPO Open

22 Feb 2024

IPO Close

26 Feb 2024

Price Band

₹177 – ₹186

Issue Size

₹525 Cr

Listing on

BSE, NSE

Min. Lot Size

80 Face value

₹10

GMP

₹0

GPT Healthcare IPO Timeline

IPO Open

22 Feb 2024

IPO Close

26 Feb 2024

Allotment

27 Feb 2024

Refund initiation

28 Feb 2024

Demat transfer

28 Feb 2024

Listing

29 Feb 2024

Key Performance Indicators

Debt/Equity

0.39 P/E

38.1 EPS

4.88 ROE

23.59%

ROCE

26.09%

Sector

Medical

Table of Contents

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About GPT Healthcare Limited

GPT Healthcare Limited was established in 2000 by Dr. Om Tantia, a respected surgeon, under the ILS Hospitals brand. Part of the GPT Group, a larger company involved in real estate, education, and infrastructure.

Currently operates 4 multispecialty hospitals in Eastern India, with plans to expand to 1000+ beds within 3 years.

Hospital Locations and Services:

Salt Lake (Kolkata): 85 beds, focusing on Cardiology, Gastroenterology, Neurology, Oncology, Orthopedics, Urology, and more.
Agartala (Tripura): 205 beds, known for Oncology, Nephrology, Urology, General Surgery, and Pediatrics, also hosting a nursing program.
Dum Dum (Kolkata): 155 beds, specializing in Cardiology, Pulmonology, Nephrology, Gastroenterology, and Oncology.
Howrah: 116 beds, offering services in Orthopedics, General Surgery, Urology, Gynecology, and Pediatrics.

GPT Healthcare Limited focuses on integrated healthcare, providing a wide range of secondary and tertiary care, including advanced diagnostics, surgeries, and treatment for various specialties. They aim to deliver quality healthcare at affordable prices, making it accessible to a wider population.

Recognized for its patient-centric approach and commitment to ethical medical practices. GPT Healthcare Limited Awarded the “Most Trusted Multispecialty Hospital in West Bengal” by Times Accent in February 2023.

Looking Ahead:

Plans for expansion include more hospitals and increased bed capacity.
Continued focus on providing specialized services and affordable healthcare in Eastern India.
Investment in research and development to improve medical care and treatment options.

About GPT Healthcare IPO

GPT Healthcare is gearing up for its IPO, opening for subscription on February 22nd, 2024. The book-built issue aims to raise ₹525.14 crore, with a share price band of ₹177-₹186. The minimum investment amount of ₹14,880 and minimum lot size of 80 shares. Subscription closes on February 26th, with tentative listing on BSE and NSE set for February 29th.

Issue Details:

Issue Size: ₹525.14 Crore
Price Band: ₹177 – ₹186 per equity share
Face Value: ₹10 per share
Market Cap (Based on Upper Price Band): ₹1526.22 Crore
Fresh Issue: ₹40 Crore
Offer for Sale: ₹485.14 Crore
Minimum Order Quantity: 80 Shares
Listing: BSE & NSE

Timeline:

Subscription Opens: February 22, 2024
Subscription Closes: February 26, 2024
Allotment Finalization: February 27, 2024 (expected)
Tentative Listing Date: February 29, 2024

Other Key Points:

Market Segment: Main Board
Book Built Issue: Yes
Lead Manager: ICICI Securities Limited, Edelweiss Financial Services Limited, SBI Capital Markets Limited
Registrar: Link Intime India Private Ltd

Industry Overview

GPT Healthcare operates within a dynamic and growing sector of the Indian healthcare industry: hospital management and multi-specialty healthcare. Here is few key trends and factors:

Market Growth:

The Indian hospital industry is expected to reach USD 372 billion by 2026, growing at a CAGR of 16-17%.
This growth is driven by factors like rising disposable incomes, increasing health awareness, aging population, and expanding medical insurance coverage.

Shift towards Multi-Specialty:

There’s a growing demand for multi-specialty hospitals offering a wider range of services under one roof. This provides convenience and comprehensive care for patients.
GPT Healthcare, with its 4 multi-specialty hospitals, aligns with this trend.

Technological Advancements:

Hospitals are increasingly adopting technologies like telemedicine, robotic surgery, and electronic health records (EHRs) to improve efficiency, accuracy, and patient experience.
GPT Healthcare’s commitment to investing in R&D suggests their potential to adapt to this trend.

Competition:

The hospital management sector is becoming increasingly competitive, with both domestic and international players vying for market share.
This highlights the importance of strategic expansion, service differentiation, and cost-effectiveness for success, areas where GPT Healthcare could focus.

Challenges:

Despite the growth, the industry faces challenges like rising healthcare costs, regulatory complexities, and manpower shortages.
Navigating these challenges will be crucial for GPT Healthcare’s long-term success.

Opportunities:

The sector offers opportunities for expansion into Tier-2 and Tier-3 cities, where access to quality healthcare is often limited.
GPT Healthcare’s existing presence in Eastern India positions them to capitalize on this potential.

Overall, the hospital management and multi-specialty healthcare sector in India presents a promising landscape for growth. However, understanding the market dynamics, competition, and challenges is crucial for players like GPT Healthcare to navigate the environment and achieve sustainable success.

Peer Analysis

Here’s a comparative peer analysis of GPT Healthcare against some of its listed peers in the hospital management and multi-specialty healthcare sector in India:

Financials:

GPT Healthcare:
- Revenue: 361 Cr (lower)
- Profit: 39 Cr (lower)
- ROE: 23.77%
- Market Cap: 1,526.22 Cr (estimated)
- P/E Ratio: N/A (upcoming IPO)
Global Health:
- Revenue: 1,030 Cr (highest)
- Profit: 188 Cr (highest)
- ROE: 24.53%
- Market Cap: 12,923 Cr
- P/E Ratio: 68.73
Krishna Institute:
- Revenue: 731 Cr
- Profit: 176 Cr
- ROE: 23.61%
- Market Cap: 9,164 Cr
- P/E Ratio: 52.06
Jupiter Life Line:
- Revenue: 292 Cr
- Profit: 63 Cr
- ROE: 21.74%
- Market Cap: 12,879 Cr
- P/E Ratio: 204.75
Yatharth Hospital:
- Revenue: 297 Cr
- Profit: 57 Cr
- ROE: 44.20% (highest)
- Market Cap: 3,905 Cr
- P/E Ratio: 68.50

Hospitals & Beds:

GPT Healthcare:
- Hospitals: 4 (lowest)
- Beds: 561 (lower)
Global Health:
- Hospitals: 13 (highest)
- Beds: 2,200+
Krishna Institute:
- Hospitals: 5
- Beds: 1,100+
Jupiter Life Line:
- Hospitals: 3
- Beds: 450+
Yatharth Hospital:
- Hospitals: 8
- Beds: 800+

Core Specialties:

All offer Cardiology, Oncology, and Orthopedics.
GPT Healthcare: Additional specialties include Gastroenterology and Nephrology.
Krishna Institute: Additional specialties include Neurosurgery and Joint Replacement.
Jupiter Life Line: Additional specialties include Cardiac Care, Spine Surgery, and Neuro Sciences.
Yatharth Hospital: Additional specialties include Urology.

Geographic Reach:

GPT Healthcare: Strong presence in Eastern India, limited national reach.
Global Health: Pan-India presence, strongest in South and West.
Krishna Institute: Primarily South India, expanding nationally.
Jupiter Life Line: Mainly Western India, focused on metros.
Yatharth Hospital: Central India focus, expanding to other regions.

Specific Specialty Strengths:

GPT Healthcare: Affordable care, focus on secondary and tertiary care.
Global Health: Oncology, pediatrics, neurology.
Krishna Institute: Cardiac care, neurosurgery, joint replacement.
Jupiter Life Line: Cardiac care, spine surgery, joint replacement.
Yatharth Hospital: Urology, oncology, cardiology.

Technology Adoption:

GPT Healthcare: Invests heavily in AI, self-service platforms, and telemedicine.
Global Health: Implementing digital initiatives, but not as advanced as GPT.
Krishna Institute: Focus on research and education, technology adoption in select areas.
Jupiter Life Line: Implementing electronic health records and patient engagement tools.
Yatharth Hospital: Investing in digital infrastructure and patient portals.

Brand Reputation:

GPT Healthcare: Strong regional brand in Eastern India, growing national recognition.
Global Health: Established national brand, but perceived as expensive.
Krishna Institute: Strong brand in South India, known for medical education.
Jupiter Life Line: Growing brand in Western India, known for specialized services.
Yatharth Hospital: Strong brand in Central India, building national presence.

GPT Healthcare IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50.00% of the Net offer
Retail	Not less than 35.00% of the Offer
HNI	Not less than 15.00% of the Offer

GPT Healthcare IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	80	₹14,880
Retail (Max)	13	1040	₹193,440
S-HNI (Min)	14	1,120	₹208,320
S-HNI (Max)	67	5,360	₹996,960
B-HNI (Min)	68	5,440	₹1,011,840

Financials of GPT Healthcare Limited

	Mar 2023	Mar 2022	Mar 2021
Assets	326.76	323.22	317.21
Revenue	366.73	342.4	248.86
Profit After Tax	39.01	41.66	21.09
Net Worth	164.14	156.96	132.68
Reserves and Surplus	85.46	78.28	75.96
Total Borrowing	64.67	95.52	122.93

Assets: Up 1.1% in Mar 2023, indicating steady growth.
Revenue: Up 7% in Mar 2023, demonstrating positive business momentum.
Profit After Tax (PAT): Down 6.6% in Mar 2023, needs investigation into the cause.
Net Worth: Up 4.5% in Mar 2023, suggesting strengthening financial position.
Reserves & Surplus: Up 9.2% in Mar 2023, indicating healthy internal reserves.
Total Borrowing: Significant jump of 47.7% in Mar 2023, warrants closer examination.

Objective of GPT Healthcare IPO

The company intends to repay or prepay, in full or in part, outstanding borrowings obtained from banks and financial institutions.
General corporate purposes.

Promoter Share Holding Pattern

As of September 30, 2023, the promoter shareholding in GPT Healthcare is 65.58%. This is down from 67.34% before the company’s initial public offering (IPO) in July 2023.

Here’s the breakdown of the promoter shareholding: