Hannah Joseph Hospital Raises Rs 12 Crore from Anchor Investors Ahead of IPO Launch, ETHealthworld
New Delhi: Hannah Joseph Hospital, a multi-speciality tertiary care hospital, on Wednesday said it has raised nearly Rs 12 crore from anchor investors ahead of its initial share sale, which will open for subscription on Thursday.
The Madurai-based company has allocated 17.06 lakh equity shares to seven entities, including Venturex Fund I, Saint Capital Fund, Aarth AIF Growth Fund, and Negen Undiscovered Value Fund, according to a circular uploaded on BSE’s website.
The shares were allotted for Rs 70 per equity share, aggregating to Rs 11.94 crore, as per the circular.
The Rs 42-crore initial public offering (IPO) will open for subscription on January 22 and conclude on January 27. The shares of the company will be listed on the BSE SME platform with a tentative listing date fixed on January 30.
The IPO is entirely a fresh issue of 60 lakh equity shares at a price band of Rs 67-70 per share, aggregating to Rs 42 crore.
The net proceeds from the IPO will be utilised for funding the capital expenditure for establishing a radiation oncology centre and general corporate purposes.
“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,” Mosesjoseph Arunkumar, Chairman and MD of Hannah Joseph Hospital Ltd, said.
Incorporated in 2011, Hannah Joseph Hospital is a multi-speciality Neurosciences and Trauma Center. It operates 133-bed tertiary hospital with allied specialities of cardiac sciences, orthopedics, oral and maxillofacial surgery.
Capital Square Advisors is the sole book-running lead manager for the IPO.
