GPT Healthcare, which runs the chain of ILS Hospitals, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 17.5 crore and an offer of sale (OFS) of up to 2.98 crore equity shares by a promoter entity and an investor, according to the draft red herring prospectus (DRHP).
The OFS consists of up to 38.05 lakh equity shares by GPT Sons and up to 2.61 crore equity shares by BanyanTree Growth Capital II LLC. Proceeds from the fresh issuance of shares will be used to purchase medical equipment and general corporate purposes. GPT 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 dciences, psychiatry and others. DAM Capital and SBI Capital Markets are the lead managers to the issue.