The initial public offering (IPO) of Hannah Joseph Hospital, a prominent multi-specialty healthcare provider based in Madurai, reached its conclusion on Tuesday, January 27. The bidding process, which commenced on Thursday, January 22, marked a significant milestone for the hospital as it sought to raise capital through the public markets.
IPO Details and Investment Requirements
This ₹42 crore book-built issue consists entirely of a fresh share sale, offering 0.60 crore shares within a price band of ₹67 to ₹70 per share. Investors had the opportunity to apply for the Hannah Joseph Hospital IPO in lots of 2000 shares. For retail investors, the minimum investment requirement stood at ₹2,80,000, calculated at the upper end of the price band, as they needed to apply for at least two lots.
Utilization of IPO Proceeds
The funds raised from this public offering are earmarked for specific purposes. The company plans to allocate a portion towards funding capital expenditure for establishing a radiation oncology centre. Additionally, the remaining proceeds will be utilized for general corporate purposes, supporting the hospital's operational and expansion activities.
Subscription Status and Allotment Timeline
As of 11:40 am on the final day of bidding, the Hannah Joseph Hospital IPO demonstrated a subscription rate of 79%. The non-institutional investor (NII) portion emerged as the most subscribed segment, being booked 1.42 times. Meanwhile, the qualified institutional buyer (QIB) segment garnered 63% bids, and the retail portion saw a subscription of 0.62%.
In aggregate, the IPO received bids for 31,66,000 shares against the total offer of 39,94,000 shares. The allotment for the Hannah Joseph Hospital IPO is anticipated to be finalized on January 28, with the listing scheduled to take place on the BSE SME platform on January 30.
Grey Market Premium Analysis
Data from investorgain.com indicates that the grey market premium (GMP) for the Hannah Joseph Hospital IPO remains tepid. Currently, the GMP stands at nil, suggesting that shares of the hospital operator are trading at par with the offer price of ₹70 per share. Consequently, at the current GMP and offer price, the SME IPO is expected to list at neither a discount nor a premium, reflecting a neutral market sentiment.
About Hannah Joseph Hospital
Hannah Joseph Hospital operates as a multi-specialty healthcare provider situated in Madurai. The hospital is located on a two-acre campus and features a centrally air-conditioned facility with a combined bed capacity of 150 beds. Its primary focus areas include Neurology, Cardiology, Psychiatry, and Trauma healthcare.
The hospital leverages its understanding of global nuances, customer culture, and the mindset of medical professionals in these specialized segments. There exists a significant demand for quality and affordable healthcare services in these areas, positioning Hannah Joseph Hospital to address critical healthcare needs in the region.
Disclaimer: This article is intended for educational purposes only. Investors are advised to consult with certified experts before making any investment decisions.
