GPT Healthcare, which operates and manages hospitals under the ILS Hospitals brand, has received approval from markets regulator Sebi to launch its initial public offering (IPO).
The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs. 17.5 crore, and an offer for sale of up to 29,887,486 equity shares, according to the draft red herring prospectus (DRHP).
At present, GPT Sons Private Limited holds 67.34 percent stake in GPT Healthcare and BanyanTree Growth Capital II, LLC owns 32.64 percent stake in the company.
The proceeds from the fresh issue will be used to purchase medical equipment aggregating to Rs 13.2 crore and general corporate purposes.
Kolkata-based Healthcare operates a chain of mid-sized hospitals in eastern India under the 'ILS Hospitals' brand and provide integrated healthcare services, with a focus on secondary and tertiary care. As of September 30, 2021, it operates four multi-specialty hospitals, with a total capacity of 556 beds.
GPT Healthcare's multispeciality hospitals are specialized in advanced surgical procedures, gynaecology and maternity services, paediatrics, orthopaedics, neuro and cardiac sciences, psychiatry and others.
Its total income increased 15.17% from Rs 216.08 crore in fiscal year 2020 to Rs 248.86 crore in fiscal year 2021, primarily due to the increases in income from hospital services, income from pharmacy sales, as well as non-operating income and the net profit stood at Rs 21.09 crore for fiscal 2021 versus Rs 10.96 crore a year ago.
