India's GPT Healthcare rises 11% in debut trade

GPT Healthcare

29/02/2024 05:50

** Shares of GPT Healthcare  GPTH.NS  up 11.2% at 206.75
rupees in trading debut vs IPO price of 186 rupees
    ** GPTH opens at 215 rupees, has stayed above IPO price so
far in the session
    ** GPTH operates multispeciality tertiary care hospitals,
under ILS Hospitals brand
    ** At session high, stock up 18.2% at 219.9 rupees with
18.04 bln rupees ($217.64 mln) valuation 
    ** IPO of 5.25 bln rupees had fresh shares issue worth 400
mln rupees, offer for sale of shares worth 4.85 bln rupees from
shareholders - prospectus
    ** IPO oversubscribed 8.52x last week - exchange data
    ** Co's profit for the six months ended Sept. 30 rose 38.3%
YoY, while revenue climbed 18.7%  

($1 = 82.8875 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))