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Business EconomyPosted at: Oct 18 2021 1:01PM


Kolkata based GPT Healthcare files IPO papers with Sebi

Kolkata, Oct 18 (UNI) Eastern India focused GPT Healthcare Limited,
which operates and manages mid-sized multispecialty hospitals
under the ILS Hospitals brand, has filed preliminary papers with
capital market regulator Sebi to raise funds through an initial
share-sale.
As per market sources, fund raise could be anywhere between 450-500 crore.
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
29.89 million
equity shares, according to the draft red herring prospectus (DRHP).
As a part of the OFS, BanyanTree Growth Capital II, LLC, a
Mauritius-based structured private equity, will sell up to 26.08
million equity shares
and GPT Sons Pvt Ltd, promoter will offload up to 3.80 million equity
shares. The private equity will be fully exiting its shareholding via
the IPO.
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.
Proceeds from the fresh issue will be used to purchase medical
equipment amounting to Rs 13.2 crs over the next 2 years besides
general corporate purposes.
GPT Healthcare, founded by Dwarika Prasad Tantia and Dr Om Tantia
started as an 8 bed hospital at Salt Lake,
Kolkata in 2000. Today it operates a network of 3 hospitals under the
ILS Hospital brand in West Bengal and 1 in Tripura with a total
capacity
of 556 beds and attends to over 35 specialties and super specialties
such as internal medicine, diabetology, gastroenterology,
orthopaedics and joint replacements, interventional cardiology,
neurology, neurosurgery, paediatrics and neonatology.
Dr. Om Tantia, has over 4 decades of experience as a surgeon and is a
specialist in the field of laparoscopic surgery. He has been the
president of the Association of Minimal Access Surgeons of India along
with multiple accolades to his credit, including the honorary
professorship bestowed by the Indian Medical Association.
Its total income increased 15.17 percent 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, majorly from private
patients; 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.
In FY 21 its EBITDA margin was at 22.14 percent compared with 18.53
percent in 2020. Additionally, its net operating profit margin
was 8.69 pc, highest amongst key listed players such as Apollo
Hospitals Enterprise Limited, Narayana Health Limited, Max Healthcare
Institute Limited, Fortis Healthcare
Limited and Shalby Limited, according to a CRISIL report.
It intends to grow the urology, neurology, interventional cardiology
and oncology specialties and expand its network of hospitals into
markets in eastern India and adjacent regions via greenfield and
brownfield projects where quality healthcare is still under
penetrated.
Owing to its focus towards developing an asset light model, It has
recently signed an MOU and long term lease agreement for a hospital
with 140 beds in Ranchi at an estimated investment of Rs 500 mn. Its
Ranchi Hospital is expected to commence operations in 2025.Other
locations it is considering to expand are Lucknow, Varanasi, Patna,
Guwahati, Cuttack and Raipur
The healthcare delivery market in India is expected to grow at a CAGR
of 15pc - 17% between fiscal Years 2021 and 2025 driven by pent up
demand coming back onto the pc system, strong fundamentals, increasing
affordability and Ayushman Bharat Yojana, to reach Rs 7.67 trillion in
fiscal Year 2025. The share of treatments (in value terms) by private
players is expected to increase from 58% in Fiscal Year 2021 to nearly
73% in Fiscal Year 2025.
Dam Capital Advisors Limited, and SBI Capital Market Limited are the
book running lead managers to the IPO.
UNI PC KK
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