GPT Healthcare files draft IPO papers with Sebi
- ByManjeet Singh | October 19, 2021
ILS Hospitals owner GPT Healthcare has filed preliminary paperwork with the capital markets regulator Sebi to raise Rs 450-500 crore through an initial share sale.
The initial public offering (IPO) entails the issuance of equity shares worth Rs 17.5 crore and the sale of up to 2.98 crore equity shares by the promoter entity and an investor, as described in the draft red herring prospectus (DRHP).
The OFS consists of up to 38.05 lakh equity shares by GPT Sons and up to 2.61 crore equity shares by private equity firm BanyanTree Growth Capital II LLC.
Through the IPO, the private equity firm will fully exit its shareholding.
Currently, GPT Sons holds a 67.34 per cent stake in GPT Healthcare, while BanyanTree Growth Capital II, LLC owns 32.64 per cent.
Based on market sources, the initial public offering is expected to fetch between Rs 450 crore and Rs 500 crore.
Funds from the new issuance of shares will be used to purchase medical equipment and conduct general corporate business.
Follow Startup Story
Related Posts
