GPT Healthcare IPO: Share Allotment To Be Finalized Soon; GMP Hints Muted Listing, Check Subscription Status

Investors who participated in the GPT Healthcare IPO bidding, held from February 22 to February 26, are now turning their attention to the finalization of allotment. The IPO, valued at Rs 525.14 crore, witnessed robust interest from the market, with oversubscription in the retail category. As the allocation process unfolds today, investors can check their allotment status on the registrar, Link Intime India Private Limited, and the BSE website.

For those who secured an allotment, GPT Healthcare will credit the shares to their demat accounts on the same day as the refund process kicks off, set for February 28, 2024. The Main Board IPO is scheduled to be listed on both the BSE and NSE, with the tentative listing date slated for February 29, 2024.

Investors can follow these steps to check their GPT Healthcare IPO allotment status:

Registrar's Website (Link Intime India):
Visit Link Intime India's website: https://linkintime.co.in/initial_offer/public-issues.html
Select the IPO from the dropdown list.
Choose the 'Selection Type' (application number, beneficiary ID, or PAN ID).
Specify the application type (ASBA or non-ASBA) and provide the necessary information.
Fill out the captcha and click submit.

BSE Website:

Visit BSE's official website: https://www.bseindia.com/investors/appli_check.aspx
Under 'Issue Type,' select 'Equity.'
Choose the IPO from the dropdown list under 'Issue Name.'
Enter PAN or application number.
Confirm identity and submit.

The GPT Healthcare IPO, valued at Rs 525.14 crore, consists of a fresh issue of Rs 40 crore and an offer-for-sale (OFS) of 26,082,786 equity shares of Rs 10 each, aggregating up to Rs 485.14 crore by the investor-selling shareholder, BanyanTree Growth Capital II, LLC. Priced in the range of Rs 177-186 per share, the net proceeds will be utilized for general corporate purposes and the repayment of existing loans from banks and financial institutions.

The IPO garnered significant interest, receiving bids for 16,84,72,240 shares against the available 1,97,63,327 shares, resulting in a subscription rate of 8.52 times. The retail investor segment saw a subscription rate of 2.24 times, while non-institutional investors (NIIs) subscribed at an impressive rate of 11.02 times. Qualified Institutional Buyers (QIBs) showed a strong demand with a subscription rate of 17.3 times, according to Trendlyne data.

As of today, the Grey Market Premium (GMP) for GPT Healthcare stands at Rs 10 per share, indicating investors' willingness to pay more than the issue price. Considering the upper end of the IPO price band at Rs 186 and the current grey market premium, the estimated listing price of GPT Healthcare's shares is projected to be Rs 196 apiece, representing a 5.37% increase over the issue price.

Investors are anticipating the listing date, with hopes that the positive response in the grey market will translate into a successful market debut for GPT Healthcare. As the healthcare sector continues to attract investor interest, the IPO's performance on the listing day will be closely watched by market participants and industry enthusiasts alike.

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