GPT Healthcare is likely to finalise its basis of allotment for its recent public issue on Tuesday, February 27. IPO bidders are likely to receive messages, alerts or emails regarding debit of funds or revocations of IPO mandate by Wednesday, February 28. The multi-specialty hospital chain based in Eastern India had received a decent response to its IPO. GPT Healthcare sold its IPO in the price band of Rs 177-186 per share. The issue ran from February 22 and February 26. The company raised Rs 525.14 crore through its primary offering, which included a fresh share sale of Rs 40 crore and offer-for-sale of up to 2.60 crore equity shares. The issue was overall subscribed 8.52 times, thanks to buying interest from qualified institutional bidders (QIBs) and non-institutional investors (NIIs), whose quota saw a subscription of 17.30 times and 11.02 times, respectively. The quota reserved for retail investors was subscribed 2.44 times during the three day bidding process. Grey market premium (GMP) of GPT Healthcare has seen a mild recovery. Last heard, the company was commanding a premium of Rs 12-15 per share, suggesting a mild listing pop of 6-8 per cent for the investors. The GMP stood in single digits over the weekend. The Kolkata-based GPT Healthcare was incorporated in 1989. It operates a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand, providing integrated healthcare services focusing on secondary and tertiary care. It has four hospitals of which two are located in Kolkata, one in Howrah and one in Agartala (Tripura). Brokerage firms largely suggested a ‘subscribe’ to the issue for the long term, citing strong foothold in the Eastern market, healthy operational performance and decent financials. That said, a few brokerages were concerned over valuations and had cited concentration of revenue, lower bed occupancy and attrition of healthcare professionals as some of the concerns. JM Financial is the solebook running lead manager of the GPT Healthcare IPO, while Link Intime India is the registrar for the issue. Shares of the company are set to be listed at both BSE and NSE with Thursday, February 29 as the tentative date of listing of the shares. Investors, who had bid for the issue of GPT Healthcare, can check the allotment status on the Bombay Stock Exchange (BSE) website: 1) Visit https://www.bseinrs/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select GPT Healthcare Limited in the dropbox 4) Write the application number 5) Add the PAN card IDdia.com/investo 6) Click on 'I am not a Robot' and hit submit Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue. 1) Go to the web portal of Link Intime Limited 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Stock recommendations by analyst for February 27: IRCON, JSW Energy and HUDCO
Also read: Tata Steel, HDFC Bank, Asian Paints: Trading strategies for these buzzing blue-chip stocks