GPT Healthcare Ltd is poised to make its debut on Dalal Street on February 29, and the company’s performance in the grey market suggests a promising start with decent listing gains. The Grey Market Premium (GMP) for GPT Healthcare has exhibited volatility since the bidding process, and recent indicators suggest a premium of Rs 17-18 per share, signaling a potential listing gain of around 10% for investors.
Key IPO Details: GPT Healthcare’s Initial Public Offering (IPO) was offered in the price band of Rs 177-186 per share, successfully raising Rs 525.14 crore. The IPO comprised a fresh share sale of Rs 40 crore and an offer-for-sale of up to 2.60 crore equity shares. The bidding window was open from February 22 to February 26, attracting strong interest from investors.
Subscription and Allocation: The IPO garnered an overall subscription of 8.52 times, with robust participation from qualified institutional bidders (QIBs) subscribing 17.30 times, non-institutional investors (NIIs) 11.02 times, and retail investors 2.44 times. The impressive subscription levels underscore the market’s confidence in GPT Healthcare’s prospects.
Grey Market Premium Insights: The Grey Market Premium, a key indicator of investor sentiment, has fluctuated but currently hovers around Rs 17-18 per share. This premium, observed in the unofficial market, suggests positive market expectations and a potential listing pop of around 10% for investors on the debut day.
GPT Healthcare’s Business Focus: Headquartered in Kolkata, GPT Healthcare operates a network of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand. The company prioritizes integrated healthcare services with a focus on secondary and tertiary care. Its hospital locations include two in Kolkata, one in Howrah, and another in Agartala, Tripura.
Brokerage Recommendations and Market Outlook: During the IPO bidding period, brokerage firms recommended a subscription to GPT Healthcare for long-term gains. The positive sentiment in the grey market aligns with this outlook, indicating that investors may witness favorable listing gains.
Lead Manager and Registrar: JM Financial serves as the sole book running lead manager for the GPT Healthcare IPO, while Link Intime India acts as the registrar for the issue.
As GPT Healthcare gears up for its market debut, investors are closely watching the grey market dynamics, anticipating a positive start for the healthcare company.
