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GPT Healthcare Limited raises Rs. 157.54 crore from Anchor Investors

Mumbai, February 21, 2024: Eastern India focused GPT Healthcare, which operates and manages mid-sized multispecialty hospitals under the ILS Hospitals brand, has garnered Rs. 157.54 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, February 22, 2024. The company informed the bourses that it allocated 84,69,996 equity shares at Rs. 186 per share on Wednesday, February 21, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Kotak Mutal Fund, Axis Mutual Fund, Bandhan Mutual Fund, Aditya Birla Life Insurance, Societe Generale, Duro One Investments Limited, India Capital Growth Fund, Copthall Mauritius, LC Pharos Multi Strategy Fund, SubhkamVentures and DE Shaw.

Out of the total allocation of 84,69,996 equity shares to the anchor investors, 38,09,760 equity shares were allocated to 3domestic mutual funds through a total of 7 schemes amounting to Rs. 70.86 crore (approx.) i.e. 44.98% of the Total Anchor Book Size.

JM Financial Limited is the sole book-running lead manager to the Issue and Link Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

IPO Details

The issue consists of a fresh issue of equity shares worth 40 crore and an offer for sale (OFS) of up to 26.08 million equity shares by investor selling shareholders.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, February 22, 2024, and closes on Monday, February 26, 2024. The price band for the Offer has been determined at Rs 177 – Rs 186 per equity share.

The IPO will fetch Rs 525.14 crore at the upper end of the price band.

Investors can bid for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

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