Hannah Joseph Hospital, a multi-specialty tertiary care hospital in Madurai with focus on Neurosciences and Trauma, plans to raise ₹42 crore through initial public offering on BSE SME.
The company will issue fresh 60 lakh equity shares in a price band of ₹67-₹70 per share.
The issue will open for subscription on January 22.
The net proceeds from the IPO will be used for establishing Radiation Oncology Centre and general corporate purposes.
Capital Square Advisors will be the Book Running Lead Manager while Bigshare Services will be the registrar to the issue.
Dr Mosesjoseph Arunkumar, Chairman and Managing Director, Hannah Joseph Hospital said it has evolved from a single-specialty focus to a multi-specialty tertiary care hospital with continuous investments in clinical excellence, technolo and skilled medical professionals.
Being a regional referral centre for complex neurological, neurosurgical, cardiac and trauma care, the hospital has consistently strengthened its infrastructure and clinical capabilities to meet the growing healthcare needs of South Tamil Nadu, he said.
The proposed IPO is expected to support the company’s planned capacity and service expansion initiatives, enabling it to strengthen its clinical offerings and deliver more integrated, end-to-end care.
The expansion is also expected to drive incremental inpatient and outpatient volumes and support sustainable growth in revenues over the medium to long term, he added.
Sunil Kumar Manocha, Founder & Director, Capital Square Advisors said supported by accredited operations and participation in government insurance schemes, the hospital is positioned to deploy incremental capital towards capacity enhancement and service integration initiatives.
These initiatives are expected to expand clinical offerings, improve patient throughput and case mix, and support growth in inpatient and outpatient revenues, he said.