Hannah Joseph Hospital Ltd. IPO
Hannah Joseph Hospital IPO is a book building SME issue of Rs. 42.00 crore, comprising a fresh issue of 0.60 crore equity shares aggregating to Rs. 42.00 crore and an offer for sale of 0.00 crore equity shares aggregating to Rs. 0.00 crore. The IPO opens for subscription on Thursday, January 22, 2026 and closes on Tuesday, January 27, 2026. The allotment is expected to be finalised on Wednesday, January 28, 2026, and the shares are proposed to be listed on the BSE SME platform with a tentative listing date of Friday, January 30, 2026.
The IPO is offered in a price band of Rs. 67 to Rs. 70 per share with a lot size of 1,500 shares. At the upper price band, the minimum investment for retail investors works out to Rs. 2,10,000 for 2 lots (3,000 shares), while HNI investors are required to apply for a minimum of 3 lots (4,500 shares), amounting to Rs. 3,15,000. Capital Square Advisors Pvt. Ltd. is the Book Running Lead Manager to the issue, Bigshare Services Pvt. Ltd. is the Registrar, and CapitalSquare Financial Services Private Limited is the Market Maker for the IPO.
đź•— Last Update: 19 January 2026, 6.00 AM
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IPO Snapshot
| Particulars | Details |
|---|---|
| IPO Type | Book Building SME IPO |
| Issue Size | Rs. 42.00 Cr |
| Fresh Issue | 57,00,000 shares (Ex Market Maker) (agg. up to Rs. 40.00 Cr) |
| Offer for Sale | — |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 67 to Rs. 70 |
| Lot Size | 1,500 shares |
| Listing Platform | BSE SME |
| Market Cap (Pre-IPO) | Rs. 158.89 Cr |
| Total Issue Size | 60,00,000 shares (agg. up to Rs. 42.00 Cr) |
| Market Maker Reservation | 3,00,000 shares (agg. up to Rs. 2.00 Cr) |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Thu, Jan 22, 2026 |
| IPO Closes | Tue, Jan 27, 2026 |
| Allotment | Wed, Jan 28, 2026 |
| Refunds | Thu, Jan 29, 2026 |
| Credit of Shares | Thu, Jan 29, 2026 |
| Listing | Fri, Jan 30, 2026 |
IPO Reservation Structure
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 3,00,000 | — |
| QIB | 28,50,000 | — |
| NII (HNI) | 8,55,000 | 14.25% |
| Retail (RII) | 19,95,000 | 33.25% |
IPO Lot Size & Investment Amount
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min & Max) | 2 | 3,000 | 2,10,000 |
| S-HNI (Min) | 3 | 4,500 | 3,15,000 |
| S-HNI (Max) | 9 | 13,500 | 9,45,000 |
| B-HNI (Min) | 10 | 15,000 | 10,50,000 |
Issue Management
| Role | Name |
|---|---|
| Registrar | Bigshare Services Pvt. Ltd. |
| Market Maker | CapitalSquare Financial Services Private Limited |
| Hannah Joseph Hospital Ltd. Address | 134, Lake View Road, K.K. Nagar, Madurai, Tamil Nadu, 625020 |
| Phone / Email | +91 9524729594 | cs@hannahjosephhospital.com |
| Lead Manager | Capital Square Advisors Pvt. Ltd. |
About the business
Hannah Joseph Hospital Limited was incorporated in 2011 and is a healthcare provider offering medical services across multiple specialties.
The company is a multi-specialty healthcare provider in Madurai, situated on a 2-acre campus with central air-conditioning and a water heating system, offering a combined capacity of 150 beds.
The company focuses on Neurology, Cardiology, Psychiatry, and Trauma healthcare, and addresses the demand for quality and affordable healthcare services.
Services
Department of Neurosciences: Neurology, Neurosurgery
Department of Cardio Sciences: Cardiology
Department of Trauma Care: Orthopaedics, Oral & Maxillofacial Surgery
Department of Psychiatry: Psychiatry
As of November 30, 2025, the company has 364 employees.
Competitive Strengths
| Key Strength | Commentary |
|---|---|
| Excellence in Neurosciences | Specialised clinical capability in neuro care |
| Advanced Cardiac Sciences | Strong focus on cardiac care services |
| Expertise in Orthopaedics and Traumatology | Established trauma and orthopaedics treatment set-up |
| Robust Emergency and Critical Care | Emergency response and critical care infrastructure |
| Commitment to Patient-Cantered Care | Patient-centric processes and service delivery |
| Community Engagement and Outreach | Local presence and outreach initiatives |
Company Financials (Restated – Rs. Cr.)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Total Assets | 104.58 | 99.29 | 89.97 | 92.14 |
| Total Income | 42.75 | 77.90 | 63.63 | 54.90 |
| EBITDA | 11.65 | 20.52 | 17.98 | 16.38 |
| PAT | 5.12 | 7.21 | 4.07 | 1.01 |
| Net Worth | 53.22 | 48.93 | 43.93 | 34.15 |
| Reserves & Surplus | 40.36 | 35.24 | 29.02 | 18.20 |
| Total Borrowings | 31.64 | 33.58 | 31.39 | 42.95 |
Key Performance Indicators (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 9.39% | 14.77% |
| ROCE | 10.41% | 17.03% |
| Debt / Equity | 0.55 | 0.65 |
| RoNW | 9.62% | 14.74% |
| PAT Margin | 12.03% | 9.30% |
| EBITDA Margin | 27.38% | 26.47% |
| Price to Book Value | 2.20 | 2.66 |
Valuation Snapshot
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (Rs.) | 4.32 | 4.51 |
| P/E (x) | 16.21 | 15.52 |
| Promoter Holding | 93.57% | 68.83% |
Objects of the Issue
| No. | Object | Amount (Rs. Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure for establishing Radiation Oncology Centre | 34.98 |
| 2 | General corporate purpose | Balance |
Promoters
The promoters of the company are Mr. Mosesjoseph Arunkumar, Mrs. Fenn Kavitha Fenn Arunkumar, Mr. Arunkumar Nalina, and Mr. Noyel Arunkumar.
IPO Registrar
Bigshare Services Pvt. Ltd.
+91-22-6263 8200
ipo@bigshareonline.com
Visit Website
IPO Lead Manager(s)
Capital Square Advisors Pvt. Ltd.
Contact Details
Hannah Joseph Hospital Ltd. Address
134,
Lake View Road,
K.K. Nagar,
Madurai, Tamil Nadu, 625020
+91 9524729594
cs@hannahjosephhospital.com
Hannah Joseph Hospital IPO Review (SME)
Hannah Joseph Hospital Ltd is a multi-specialty hospital in Madurai with a 150-bed capacity and focus on Neurology, Cardiology, Psychiatry and Trauma care. Financially, the business has shown steady improvement—FY25 PAT stood at Rs. 7.21 Cr, while the latest period (Sep 30, 2025) PAT is Rs. 5.12 Cr, indicating continued traction. For FY25, the monthly revenue run-rate is healthy at around Rs. 6.46 Cr. Trade receivables at Rs. 8.97 Cr appear elevated, but cash & equivalents at Rs. 7.62 Cr provide near-term comfort on liquidity.
Importantly, the company has entered into MoU arrangements with MDIndia Healthcare Services (TPA) Pvt. Ltd. and United India Insurance Co. Ltd. to participate in Tamil Nadu’s CMCHIS scheme (cashless health cover up to Rs. 5 lakh per family per year). If executed well, this can boost patient volumes and bed utilisation; however, government/TPA billing can also elongate claim cycles—making higher receivables understandable but still a key monitorable.
Valuation looks reasonable for a profitable hospital (post-IPO P/E around mid-teens), but investors must track receivable ageing, claim settlement timelines, and working-capital discipline as scale rises. Overall, it is a fundamentally profitable healthcare SME with visible demand drivers, suited for investors comfortable with healthcare execution and receivable-cycle risks.
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
