Sunday, October 17, 2021

GPT Healthcare files draft papers with SEBI to raise funds via IPO

GPT Healthcare Ltd, which runs the chain of ILS Hospitals, has filed a draft paper to seek Securities Exchange Board of India (SEBI) approval for raising funds via an initial public offering (IPO).

The IPO consists of a fresh issue of ₹17.50 crore and an offer for sale (OFS) of up to 29.89 million shares by its existing shareholders and promoters.

The OFS comprises up to 3.80 million shares by GPT Sons Pvt. and up to 26.08 million by Banyantree Growth Capital II LLC. The proceeds from the issue will be used for purchase of medical equipment.

DAM Capital and SBI Capital Markets are the lead managers to the issue.

GPT Healthcare operates a chain of mid-sized multispecialty hospitals in Eastern India under the ILS Hospitals brand and provides integrated healthcare services, with a focus on secondary and tertiary care.

As of September 2021, the firm has four multispecialty hospitals with a total capacity of 556 beds.

It offers a comprehensive range of healthcare services including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general surgery, gynaecology and obstetrics, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, neurosurgery, paediatrics and neonatology.

Dr Om Tantia, founder of ILS Hospital and one of its promoters is an established name in the field of laparoscopic surgery. Dr Tantia has 40 years of experience in minimal access surgery and established ILS Hospitals in 2000.

For fiscal year 2021, total income stood at ₹248.86 crore against ₹216.08 crore a year ago. Net profit for the period stood at ₹21.09 crore versus ₹10.96 crore a year ago. As of September 2021, its total borrowings stood at ₹113.25 crore.

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