Hannah Joseph Hospital's Growth Surge: IPO to Propel Expansion

Hannah Joseph Hospital has raised Rs 12 crore from anchor investors in anticipation of its initial public offering (IPO) set to commence. The Madurai-based hospital will focus on expanding its services by establishing a new radiation oncology center, aiming for sustainable growth in the healthcare sector.

Hannah Joseph Hospital, a premier multi-specialty tertiary care institution, announced it has secured nearly Rs 12 crore from anchor investors prior to its IPO launch. This financial milestone paves the way for an expansion set to bolster its service capacity.

The Madurai-founded hospital allocated 17.06 lakh equity shares to seven strategic investors, including known entities such as Venturex Fund I and Saint Capital Fund, at Rs 70 per share. This allocation was confirmed in a formal disclosure on the BSE.

The hospital's Rs 42-crore IPO, introducing fresh equity shares priced at Rs 67-70 each, aims to finance a state-of-the-art radiation oncology center. Chairman Mosesjoseph Arunkumar emphasizes that the IPO will underpin the hospital's strategic growth, driving increased patient intake and facilitating sustained revenue expansion.

(With inputs from agencies.)