Gujarat Kidney IPO GMP: Rs 250-cr issue opens for subscription; check price band, lot size, more

The share sale window of Gujarat Kidney and Super Speciality Ltd (GKASSL) opened for subscription on December 22 and will close on December 24. The healthcare company launched the public issue, aimed raising Rs 250.80 crore, which is entirely a fresh issue of 2.20 crore equity shares. The company has fixed the price band the range of Rs 108 to Rs 114 per share.

At the upper end of the price band, retail investors will need to invest a minimum of Rs 14,592 for one lot of 128 shares.

Ahead of the IPO opening, Gujarat Kidney raised Rs 100 crore from anchor investors. According to the BSE, the anchor book saw participation from 10 entities, including Venus Investments, Khandelwal Finance Pvt Ltd, Nexus Global Opportunities Fund, and Sunrise Investment Opportunities Fund.

The company allocated 87.73 lakh equity shares to anchor investors at Rs 114 per share, taking the total anchor investment to Rs 100.01 crore.

Gujarat Kidney and Super Speciality’s IPO is commanding a grey market premium (GMP) of Rs 7 per share on its opening day, December 22/, indicating modest investor interest. With the IPO priced at the upper band of Rs 114, the stock is estimated to list around Rs 121, implying a potential listing gain of about 6 per cent, according to the website that track unlisted market data.

Who are BRLM and registrar?

Nirbhay Capital Services Pvt Ltd is the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd is the registrar.

GKASSL's financial performance

The company has reported strong growth in recent years. Here is how the the healthcare firm's earnings fared:

Listed peers of Gujarat Kidney include Yatharth Hospital & Trauma Care Services, GPT Healthcare, and KMC Speciality Hospitals (India).

All you need to know about Gujarat Kidney

Gujarat Kidney & Super Speciality Ltd operates a network of seven multispeciality hospitals and four in-house pharmacies across central Gujarat. The company currently has a total bed capacity of 490 beds, of which 340 beds are operational.It provides a mix of secondary care and tertiary care services, including super-speciality surgical treatments. As part of its growth plans, the company intends to use IPO proceeds to acquire Parekhs Hospital in Ahmedabad, which has a capacity of 49 beds.

With a workforce of around 670 employees, including 89 full-time consultants and 238 visiting consultants, the company aims to cater to the underpenetrated healthcare demand in regional Gujarat.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)