Hannah Joseph IPO listing: Shares debut at 7.6% discount to IPO price on BSE SME

Hannah Joseph IPO listing: Shares of Hannah Joseph made a weak debut in the Indian stock market on Monday, February 2, amid a muted response to its initial public offering (IPO).

Hannah Joseph share price was listed at a 7.6% discount to the IPO price of ₹70 on the BSE SME. Hannah Joseph share price opened at ₹65, suggesting that the IPO allottees incurred a 7.6% loss.

The listing was below stock market expectations, as ahead of the debut, Hannah Joseph IPO GMP today was nil, indicating a listing at par with the IPO price.

Hannah Joseph IPO details

The issue was available for subscription between January 22 and January 27, with the allotment of the Hannah Joseph Hospital IPO finalised on January 28.

By the close of Day 3, the SME IPO was subscribed 1.41 times. The retail category saw 1.47 times subscription, the NII segment was booked 1.84 times, while the QIB portion received bids amounting to 0.95 times. Overall, bids were received for 56.12 lakh shares against the 39.94 lakh shares on offer.

The ₹42-crore IPO consists solely of a fresh issue of 0.60 crore shares, with no offer-for-sale (OFS) component.

The company intends to primarily use the net proceeds to fund capital expenditure for setting up a Radiation Oncology Centre, allocating an estimated ₹34.98 crore for the project, while the balance will be used for general corporate purposes.

The SME IPO had a lot size of 2,000 shares. Retail investors were required to make a minimum investment of ₹2.80 lakh (two lots or 4,000 shares) at the upper end of the price band. Ahead of the issue opening, the company raised ₹11.94 crore from anchor investors on January 21.

Capital Square Advisors Pvt. Ltd. is the book-running lead manager, Bigshare Services Pvt. Ltd. is the registrar to the issue, and CapitalSquare Financial Services Private Limited is the market maker.

Incorporated in 2011, Hannah Joseph Hospital Limited is a healthcare services provider offering treatment across multiple specialities. The company operates a 150-bed multi-speciality hospital in Madurai, located on a 2-acre campus and equipped with central air-conditioning and an integrated water heating system.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.