Gujarat Kidney and Super Speciality IPO GMP rises as subscription begins on Monday; check key details

Gujarat Kidney and Super Speciality IPO GMP rises.

Gujarat Kidney and Super Speciality IPO GMP rose marginally on Friday as the Rs 250.80 crore issue is set to open for public subscription in the primary market.

Healthcare company Gujarat Kidney and Super Speciality Ltd fixed a price band of Rs 108-114 per share for its IPO. The company's maiden public offering will open for subscription on December 22 and conclude on December 24, according to its statement.

According to platforms tracking the grey market activities, the shares of Gujarat Kidney and Super Speciality are commanding a GMP between 7-9 percent. Investorgain quoted a GMP of Rs 8 for the shares of the company, indicating a listing gain of 7 percent, while IPO Watch quoted a GMP of 9 percent.

Proceeds from the fresh issue will be used for proposed acquisition of Parekhs Hospital at Ahmedabad and part-payment of purchase consideration for the already acquired "Ashwini Medical Centre".

Also, funds will be used for setting up a new hospital in Vadodara; buying robotics equipment for the hospital at Vadodara; debt repayment; funding inorganic growth through unidentified acquisitions & general corporate purposes.

Gujarat Kidney and Super Speciality is one of the regional healthcare companies located in the central region of Gujarat and operates a chain of mid-sized multi-speciality hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care.

It operates seven multispeciality hospitals with a total capacity of 490 beds, approved bed capacity of 445 beds and operational bed capacity of 340 beds.

Gujarat Kidney and Super Speciality IPO share allotment is expected by December 26, while shares are proposed to be listed on December 30.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.