GPT Healthcare Ltd, which runs the chain of ILS Hospitals, has filed draft papers to seek Securities and Exchange Board of India’s approval for raising funds via an initial public offering.
The IPO consists of a fresh issue of Rs 17.50 crore and an offer for sale (OFS) of up to 29.89 million shares by shareholders and promoters.
The OFS comprises up to 3.80 million shares by GPT Sons Pvt and up to 26.08 million by BanyanTree Growth Capital II LLC.
In 2014, GPT Healthcare had raised an undisclosed amount in private equity funding from BanyanTree Growth Capital.
The proceeds from the issue will be used for purchase of medical equipment.
DAM Capital and SBI Capital Markets are the lead managers to the issue.
GPT Healthcare operates a chain of mid-sized multispeciality hospitals in eastern India under the ILS Hospitals brand and provides integrated healthcare services with a focus on secondary and tertiary care.
As of September 2021, the firm had four multispeciality hospitals with a total capacity of 556 beds.
It offers a comprehensive range of healthcare services including internal medicine and diabetology, nephrology (including renal transplants), laparoscopic and general surgery, gynaecology and obstetrics, critical care, gastroenterology, orthopaedics and joint replacements, interventional cardiology, neurology, neurosurgery, paediatrics and neonatology.
Each of its hospitals also provides integrated diagnostic services and pharmacies. It also provides outpatient services, including consultation for a range of ailments and preventive health screenings.
Dr Om Tantia is the founder of ILS Hospital and one of its promoters. Tantia, who has 40 years of experience in minimal access surgery, established ILS Hospitals in 2000.
For fiscal year 2021, total income stood at Rs 248.86 crore against Rs 216.08 crore a year ago. Net profit for the period stood at Rs 21.09 crore versus Rs 10.96 crore a year ago. As on September 2021, total borrowings stood at Rs 113.25 crore.
