GPT Healthcare files draft papers with SEBI for IPO
GPT Healthcare recently filed its preliminary papers with the Securities and Exchange Board of India (SEBI) for its initial sale of shares.
As per the company’s draft red herring proposal (DRHP), the initial public offering (IPO) will be conducted through the issuance of equity shares valued at about Rs. 17.5 crore and the offer of sale (OFS) of up to 2.98 crore equity shares by promoter and investor. The OFS will consist of around 38.05 lakh equity shares by GPT Sons and 2.61 crore equity shares by BanyanTree Growth Capital II LLC.
GPT Healthcare, reportedly, plans on using the capital raised for the purchase of medical equipment and general corporate purposes.
The company runs a chain of mid-sized hospitals- ILS Hospitals, in the eastern part of the country and focuses on secondary and tertiary care. It operates four multi-specialty hospitals, with a capacity of 556 beds in total. ILS Hospitals are specialized in advanced surgical procedures, paediatrics, psychiatry, gynaecology and maternity services, orthopaedics, among other fields.
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