Anchor Investors Commit Nearly ₹12 Crore Ahead of Issue Opening
Hannah Joseph Hospital, a multi-speciality tertiary care hospital, has secured close to ₹12 crore from anchor investors ahead of its initial public offering, which opens for subscription today.The Madurai-based healthcare company allotted 17.06 lakh equity shares to seven anchor investors. The allocation included participation from Venturex Fund I, Saint Capital Fund, Aarth AIF Growth Fund, and Negen Undiscovered Value Fund, as disclosed in a filing uploaded on the BSE website.
The shares were allotted at ₹70 per equity share, taking the total anchor investment to ₹11.94 crore.
IPO Structure and Timeline
The ₹42 crore IPO opens today, January 22, and will remain open for subscription until January 27. The company is scheduled to make its market debut on January 30, with the equity shares proposed to be listed on the BSE SME platform.The issue is entirely a fresh offering of 60 lakh equity shares, priced in the range of ₹67 to ₹70 per share.
Use of IPO Proceeds
According to the company, the net proceeds from the public issue will be used primarily to fund capital expenditure for setting up a radiation oncology centre. A portion of the funds will also be allocated towards general corporate purposes.Commenting on the expansion plans, Mosesjoseph Arunkumar, Chairman and Managing Director of Hannah Joseph Hospital Ltd, said the IPO is expected to support the company’s capacity and service expansion initiatives. He added that the planned investments aim to strengthen clinical offerings, enable integrated end-to-end care, and drive higher inpatient and outpatient volumes, supporting sustainable revenue growth over the medium to long term.
Company Profile and IPO Management
Incorporated in 2011, Hannah Joseph Hospital operates a 133-bed tertiary care facility and is positioned as a multi-speciality neurosciences and trauma centre. Its allied specialities include cardiac sciences, orthopedics, and oral and maxillofacial surgery.Capital Square Advisors is acting as the sole book-running lead manager for the IPO.
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