Kolkata-based GPT Healthcare is set to launch its initial public offering (IPO), marking the 13th IPO of the year. The IPO is scheduled to open for subscription on February 22, offering an exit opportunity for private equity firm Banyan Tree. The offering comprises a fresh issuance of shares worth Rs 40 crore and an offer-for-sale (OFS) of 2.6 crore equity shares by existing shareholders. The IPO will conclude on February 26, with the price band expected to be disclosed soon. The anchor book for the IPO will open on February 21.
Banyan Tree Growth Capital II LLC intends to divest its entire shareholding of over 2.60 crore equity shares, equivalent to 32.64 percent of the paid-up equity, marking its exit from the company. Meanwhile, GPT Sons and the Tantia family, who are the promoters, collectively hold 67.34 percent shares in the healthcare services provider.
Proceeds from the fresh issue, amounting to Rs 30 crore, will be allocated towards debt repayment, while the remaining funds will be utilized for general corporate purposes. GPT Healthcare operates four multispecialty hospitals located in Dum Dum, Salt Lake, and Howrah in West Bengal, as well as in Agartala, Tripura, boasting a combined capacity of 561 beds.