The initial public offering (IPO) of Gujarat Kidney and Super Speciality is set to close for subscription today, December 24. The ₹251-crore issue has garnered robust investor interest, with the IPO subscribed over four times (410%) its offer size by Day 3.
As per NSE data available at 1:30 pm, the healthcare company received bids for nearly 5.43 crore shares against an offer size of 1.32 crore shares. Retail investors led the demand, subscribing to their reserved portion nearly 16 times (1,579%).
The Non-Institutional Investors (NII) category was subscribed around 4.5 times (455%), while Qualified Institutional Buyers (QIBs) subscribed 58% of their allocated portion.
Gujarat Kidney and Super Speciality IPO GMP:
Ahead of listing, the company’s shares were trading flat in the grey market, with a zero premium over the IPO price, according to Investorgain. This marks a sharp decline from the 8.77% grey market premium recorded on December 18.
IPO Watch, however, reported a modest grey market premium of about 2.63% over the issue price.
About the Gujarat Kidney and Super Speciality IPO:
The company aims to raise ₹250.80 crore through a completely fresh issue of up to 2.20 crore equity shares, with no offer-for-sale (OFS) component. As a result, the entire proceeds will be utilised by the company.
The IPO is priced in the range of ₹108–114 per share and opened for public subscription on December 22. The basis of allotment is expected to be finalised by December 29, while the shares are scheduled to list on both BSE and NSE on December 30.
Retail investors can apply for a minimum of 128 shares, translating to an investment of ₹14,592 at the upper end of the price band.
Anchor Investors:
Ahead of the IPO, Gujarat Kidney and Super Speciality raised over ₹100 crore from 10 anchor investors on December 19. The company allotted 87.73 lakh equity shares at the upper price band to anchor investors.
Craft Emerging Market Fund, through its Citadel Capital Fund and Elite Capital Fund, emerged as the largest anchor investor with an investment of ₹45 crore. Khandelwal Finance and Venus Investments followed with investments of ₹15 crore and ₹10 crore, respectively.
Use of IPO Proceeds:
The company plans to deploy the fresh issue proceeds across multiple growth initiatives, including:
- ₹77 crore for acquisition of Parekhs Hospital, Ahmedabad
- ₹12.4 crore for part payment towards Ashwini Medical Centre
- ₹10.78 crore for increasing stake in subsidiary Harmony Medicare
- ₹30.09 crore for setting up a new hospital in Vadodara
- ₹6.8 crore for procurement of robotic equipment
- ₹1.2 crore for partial debt repayment
- Remaining funds for inorganic growth and general corporate purposes
Gujarat Kidney and Super Speciality currently operates seven multi-speciality hospitals and four pharmacies in Gujarat, with a total capacity of 490 beds. Nirbhay Capital Services is the merchant banker to the issue.
Short Disclaimer:
This article is for informational purposes only and does not constitute investment advice.
