Market Performance: A Soft Start on Listing Day
The Hannah Joseph IPO listing didn’t bring cheer for investors on debut day. On Monday, February 2, the stock entered the market on a cautious note, reflecting the subdued sentiment seen during the IPO phase.
Hannah Joseph shares were listed on the BSE SME platform at ₹65, marking a 7.6% discount to the IPO price of ₹70. For investors who received allotment, the listing translated into an immediate paper loss of ₹5 per share.
The debut stayed closely aligned with pre-listing signals, as the stock opened without any premium and slipped below the issue price right at the start. The listing highlighted muted demand rather than aggressive buying interest.
Main News: How the IPO Unfolded?
The Hannah Joseph IPO opened for subscription on January 22 and closed on January 27, with allotment finalized on January 28.
Overall response to the public issue remained modest:
- Total subscription: 1.41 times
- Retail investors: 1.47 times
- Non-Institutional Investors (NII): 1.84 times
- Qualified Institutional Buyers (QIB): 0.95 times
In numbers, bids were received for 56.12 lakh shares, against 39.94 lakh shares on offer.
The IPO size stood at ₹42 crore, and the issue consisted entirely of a fresh issue of 0.60 crore shares. There was no offer-for-sale (OFS) component, meaning all funds raised will go directly to the company.
IPO Structure and Fund Utilisation
The Hannah Joseph IPO listing was structured as an SME issue with the following key details:
- Issue size: ₹42 crore
- Fresh issue: 0.60 crore shares
- Lot size: 2,000 shares
- Minimum retail application: 2 lots (4,000 shares)
- Minimum investment: ₹2.80 lakh
- Anchor investment: ₹11.94 crore raised on January 21
Use of proceeds was clearly defined:
- ₹34.98 crore allocated towards capital expenditure
- Purpose: Setting up a Radiation Oncology Centre
- Remaining funds earmarked for general corporate purposes
Company Details: What Hannah Joseph Does?
Founded in 2011, Hannah Joseph Hospital Limited operates in the healthcare services space. The company runs a 150-bed multi-speciality hospital in Madurai, Tamil Nadu.
Key operational highlights include:
- Located on a 2-acre campus
- Fully central air-conditioned infrastructure
- Integrated water heating system
- Treatment offered across multiple medical specialities
The hospital focuses on organised healthcare services with infrastructure aimed at catering to a wide patient base.
Issue Management and Key Participants
Several entities supported the IPO process:
- Book-running lead manager: Capital Square Advisors Pvt. Ltd.
- Registrar: Bigshare Services Pvt. Ltd.
- Market maker: CapitalSquare Financial Services Private Limited
These parties managed the execution and post-listing liquidity framework for the SME issue.
Summary: What the Listing Signals?
The Hannah Joseph IPO listing delivered a subdued debut, with the stock opening below its IPO price on the BSE SME platform. Despite steady subscription figures and clear utilisation plans, the listing reflected restrained market participation.
- Listed at ₹65 vs ₹70 IPO price
- Discount of 7.6% on debut
- Subscription remained just above full coverage
- Entire issue was a fresh capital raise
The debut performance underscores cautious investor sentiment surrounding SME healthcare listings, even when fundraising objectives and business operations are clearly laid out.
Source: Livemint
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