GPT Healthcare IPO retail portion subscribed 1.25 times on Friday, February 23. The issue received bids of 1,67,75,440 shares against the offered 1,97,63,327 equity shares
The initial public offering (IPO) of GPT Healthcare received a tepid response from the investors during the first day of bidding. The issue was subscribed just 36 percent till now on day one (February 22). It received bids worth 71.94 lakh shares as against 1.97 crore shares on offer.
GPT Healthcare has fixed a price band of Rs 177-186 per share for its Rs 525-crore IPO. The issue closes on February 26. Investors can make bids for 80 shares in one lot and multiples thereafter. The proceeds will be used for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and for general corporate purposes.