GPT Healthcare shares make D-Street debut at 16% premium over issue price

GPT Group healthcare arm GPT Healthcare’s shares made a decent debut in the secondary market on Thursday, February 29, entering the listed universe at a premium of around 16 per cent over the upper end of the issue price band. The stock began trading on bourses NSE and BSE at Rs 215 and Rs 216.2 apiece, respectively.

The listing was in line with market wizard and Zee Business Managing Editor Anil Singhvi's expectations. 

The Rs 525-crore IPO of GPT Healthcare, which owns and operates multispeciality neighborhood tertiary care hospitals, concluded this week with an overall subscription of 8.5 times the equity on offer.

The IPO received bids for as many as 16.8 crore shares as against the almost two crore shares on offer, according to provisional exchange data. Here's how the various categories of investors responded to the issue:  

The initial share sale, a combination of fresh issuance and an offer for sale (OFS), was open for subscription in a price band of Rs 177-186 apiece from February 22 to February 29. 

The company aims to utilise the proceeds from the issue towards repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company from banks and financial institutions and other general corporate purposes.

What does GPT Healthcare do?

Incorporated in 1989, GPT Healthcare is a regional corporate healthcare corporation based out of Kolkata.

(This story will be updated shortly)

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.