The much-anticipated allotment process for Gujarat Kidney Foundation's initial public offering (IPO) is now underway. The subscription window for the company's maiden share sale closed on Wednesday, December 25, setting the stage for the final allotment to investors.
How to Check Gujarat Kidney IPO Allotment Status
Investors who applied for the IPO can now check their allotment status online. The process is straightforward and can be done through the websites of the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE). Alternatively, applicants can also visit the portal of the IPO's registrar to find out if they have been allotted shares. The allotment date is today, December 26.
Strong Retail Demand Drives IPO Subscription
The public issue witnessed a healthy overall subscription of 5.21 times the shares on offer. A closer look at the category-wise data reveals where the strongest interest lay. The portion reserved for retail individual investors (RIIs) was booked a massive 19.04 times, indicating robust participation from the general public. The quota for non-institutional investors (NIIs) also saw solid demand, receiving 5.73 times subscription. The qualified institutional buyers (QIBs) portion was subscribed 1.06 times.
IPO Details and Use of Proceeds
The ₹251-crore IPO was a fresh issue of up to 2.2 crore equity shares, with a price band set between ₹108 to ₹114 per share. At the upper end of the band, the issue aggregates to ₹250.8 crore.
The company has outlined clear objectives for the capital raised. A significant portion will be used to acquire Parekhs Hospital located in Ahmedabad. Funds will also partially finance the purchase consideration for the already-acquired Ashwini Medical Centre.
The remaining proceeds are earmarked for several strategic initiatives:
- Setting up a new hospital in Vadodara.
- Purchasing robotic equipment for the Vadodara facility.
- Repaying certain debts.
- Supporting inorganic growth through future, yet-to-be-identified acquisitions.
- Meeting general corporate expenses.
Listing Expectations and Date
Market observers are noting that the Gujarat Kidney IPO grey market premium (GMP) is currently nil. This suggests that the shares are trading at par with the issue price in the unofficial market. Consequently, analysts anticipate a flat listing when the stock debuts on the bourses, meaning it may list neither at a premium nor a discount to the issue price. The shares are scheduled to be listed on Tuesday, December 30.
Investors are advised to monitor official channels for their allotment status and prepare for the upcoming listing day.
