Public Market

IPO

GPT Healthcare files draft papers with SEBI to raise funds via IPO

Mint  

GPT Healthcare Ltd, which owns the ILS Hospitals chain, has filed draft papers for its initial public offering (IPO) with the Securities and Exchange Board of India. The IPO comprises a fresh issue worth INR 17.50 crore and an offer for sale (OFS) of up to 29.89 million shares by its shareholders and promoters. While 3.80 million shares will be put on sale by GPT Sons Pvt. Ltd, Banyantree Growth Capital II LLC will put up 26.08 million shares in the IPO. The primary proceeds will be used to purchase medical equipment. DAM Capital and SBI Capital Markets are the lead managers to the issue. GPT operates a chain of mid-sized multi-specialty hospitals in eastern India under the ILS Hospitals brand. It offers integrated healthcare services, focusing on secondary and tertiary care.