GPT Healthcare's Stock Exchange Debut: Modest Increases Signal Positive Launch
Today marked the debut of GPT Healthcare on the stock exchanges, with its share price opening at Rs. 215 on the NSE and Rs. 216.15 on the BSE. These figures represent a modest increase of 15.6% and 16.21%, respectively, compared to the issue price of Rs. 186. While this performance was not as exhilarating as some had anticipated, it nonetheless signifies a positive start for the company in the public markets.
Subscription and Pricing
Experts had initially predicted a listing range of Rs. 190 to Rs. 195 for GPT Healthcare. However, the actual subscription numbers during the IPO period exceeded expectations.
Throughout the three-day subscription period, the IPO garnered significant interest, with subscription levels reaching 8.52 times by the final day. This robust subscription rate indicates strong investor confidence in the company's prospects.
The IPO, which ran from February 22 to February 26, had a price band set between Rs. 177 and Rs. 186 per equity share, with a lot size of 80 shares and multiples thereof.
The allocation of shares in the public issue was structured to reserve 50% for qualified institutional buyers (QIBs), 15% for non-institutional institutional investors (NIIs), and 35% for retail investors.
About GPT Healthcare
GPT Healthcare Ltd. manages a chain of mid-sized comprehensive medical facilities known as 'ILS Hospitals', delivering integrated healthcare solutions primarily oriented towards secondary and tertiary care. The company's initial public offering (IPO) was valued at Rs. 525.14 crore, consisting of a newly issued capital of Rs. 40 crore and the sale of 26,082,786 equity shares, worth Rs. 485.14 crore, through an offer-for-sale (OFS) by the selling shareholder, BanyanTree Growth Capital II, LLC.
The funds raised through the IPO will be utilized for general corporate objectives and the repayment of existing loans obtained from banks and financial institutions, among other purposes.
Grey Market Premium (GMP)
The grey market premium (GMP) for GPT Healthcare's IPO has been fluctuating, with a current premium of +17, indicating a trading premium of Rs.17 in the grey market. This suggests a favorable sentiment among investors, as they are willing to pay more than the issue price for shares in the secondary market.
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Based on recent trends in the grey market, analysts expect a strong listing for GPT Healthcare, with the IPO GMP trending upwards. The range of GMP has varied between Rs. 0 and Rs. 19 over the last 14 sessions, highlighting the dynamic nature of investor sentiment in the pre-listing phase.
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