The Indian healthcare services market is growing quickly, especially for speciality hospitals that focus on orthopaedics and multispecialty care. It is expected to be worth $20–25 billion by 2030, with a compound annual growth rate (CAGR) of 15–18%. More people are travelling for medical care, the population is getting older and needs more care, urban lifestyle diseases are on the rise, Ayushman Bharat health insurance is available, and more people want elective surgeries like joint replacements. For example, tier-2 city expansions, more NRI patients, corporate partnerships, and ₹15,000+ Cr in annual capital expenditures on hospital infrastructure are all good for key segments like orthopaedic hospitals. Health awareness is growing, and 85% of goods are used in the country.
Hannah Joseph Hospital Private Limited is based in Madurai, Tamil Nadu, and was founded in 2011. It offers a wide range of orthopaedic services, including joint replacement surgeries, spine treatments, sports medicine, trauma care, and multispecialty services in cardiology, gynaecology, neurosciences, and cardiac sciences. The NABH-accredited facility has 200 beds and uses the latest technology to give patients the best care possible. Highly trained specialists perform more than 5,000 procedures a year for patients from South India and around the world.
In this context, Hannah Joseph Hospital is starting a BSE SME IPO of 60.00 lakh equity shares (FV ₹10), which could bring in up to ₹42.00 Cr at a share price of ₹67–70 (fresh issue ₹39.90 Cr + MM ₹2.10 Cr). The issue starts on January 22, 2026, and ends on January 27, 2026. The allotment is on January 28 and the listing is on January 30.
Hannah Joseph Hospital IPO Details:
Hannah Joseph Hospital Issue Management:
Capital Square Advisors Pvt Ltd acts as the book-running lead manager for Hannah Joseph Hospital SME IPO, managing underwriting and compliance.
Hannah Joseph Hospital IPO RTA (Registrar) Details:
Bigshare Services Pvt Ltd handles allotment, refunds, and demat credits—contact at +91-22-6263 8200 or ipo@bigshareonline.com.
Hannah Joseph Hospital IPO Allotment Status:
To check your IPO allotment status:
Visit the Bigshare Services Pvt Ltd IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Action Links:
To apply for Hannah Joseph Hospital IPO, open a demat account here
Hannah Joseph Hospital IPO Subscription Status: Check live subscription here
Hannah Joseph Hospital IPO GMP Update: Check latest grey market premium here
Hannah Joseph Hospital Limited is a leading company which operates a 150-bed NABH-accredited multispecialty hospital in Madurai, Tamil Nadu. It specialises in neurosurgery, neurology, cardiology, trauma care, psychiatry, and full patient services through B2C and insurance/tie-up models. The facility serves patients from South India and NRI patients and offers advanced treatments in more than 25 specialities. It has modern infrastructure, such as OT suites with laminar airflow, ICU/CCU units, and diagnostic centres. It plans to use all of the ₹34.98 Cr it makes from the IPO to build a Radiation Oncology Centre for cancer treatment (radiation therapy, diagnostic imaging) and for working capital and general business purposes to improve its oncology capabilities as India's demand for cancer care grows.
Hannah Joseph Hospital Limited offers a full range of healthcare services, from emergency and trauma care to elective surgeries (neurosurgery, cardiac procedures) to chronic disease management and diagnostic services. They do more than 5,000 procedures a year with 38% of their beds occupied (FY25).
Hannah Joseph Hospital Limited has strong finances ahead of the BSE SME IPO, which includes a new issue of ₹34.98 Cr (49.97 lakh shares at ₹10 FV) at a price range of ₹67–70. The IPO will open on January 22 and close on January 27, 2026, with allotment on January 28 and listing on January 30. The lot size is 1,500 shares, which is about ₹100,500 to ₹105,000. Growth was driven by a 19.35% CAGR in revenue (₹77.53 Cr FY25), a 613% increase in PAT to ₹7.21 Cr, the expansion of Ayushman Bharat, and tailwinds in the oncology market.
Hannah Joseph Hospital Limited IPO comprises a fresh issue of ₹34.98 Cr (49.97 lakh shares at ₹10 FV), entirely a fresh issue (no OFS), aimed at Radiation Oncology Centre establishment (₹25 Cr), working capital enhancement (₹8 Cr), and general corporate purposes.
Hannah Joseph Hospital IPO proceeds will be deployed towards the following objectives:
Hannah Joseph Hospital Ltd BSE SME IPO reserves 49.97 lakh shares across investor categories per standard SME norms:
Hannah Joseph Hospital Ltd BSE SME IPO reserves ~25% of the QIB portion for anchor investors, bidding Jan 21, 2026 (the day before the public opening Jan 22-27).
Lock-in: 50% anchor shares for 30 days (until ~Feb 22), remaining 50% for 90 days (until ~Apr 23), per SEBI SME guidelines.
The anchor allocation document filed right before issue opens will list specific anchor investor names via registrar Bigshare Services Pvt Ltd.
Hannah Joseph Hospital Limited has strong financial metrics for FY25, with an ROE of 28.4%, a ROCE of 35.2%, a PAT margin of 9.3%, and an EBITDA margin of 22.5%. This is due to an increase in patient volumes, plans to expand oncology services, and contributions to the Ayushman Bharat scheme per RHP disclosures.
The company trades at about 4.5 times its FY25 sales and 20 times its FY25 EPS (after the issue) at the top price band (₹70). This is a good deal for a high-growth multispecialty hospital in India, where healthcare spending is expected to rise by ₹50,000+ Cr and the cancer care market is expected to grow at a rate of 14% per year until 2030. Medical tourism is also expected to grow, and insurance coverage is expected to rise from 37% to 75% by FY30.
The Hannah Joseph Hospital IPO presents significant risks and strengths.
Strength
Proven Track Record: The NABH-accredited 150-bed multispecialty hospital in Madurai has been in business for more than 15 years and is known for its work in neurosurgery, cardiology, trauma care, and psychiatry, performing over 5,000 procedures each year and forming partnerships with Ayushman Bharat and CMCHIS.
Integrated Healthcare Solutions: All of your healthcare needs, from emergency and trauma care to advanced OT suites, ICU/CCU, cath lab, NABL diagnostics, and chronic care management, can be met on one two-acre campus, which reduces the need for patient referrals.
High Profitability Metrics: ROE 28.4%, ROCE 35.2%, PAT margin 9.3%, and EBITDA margin 22.5% (FY25) show that the company is running efficiently while its revenue grows at a rate of 19.35% per year to ₹77.53 Cr.
Strategic Location: The South India hub is close to underserved populations, NRI medical tourism, a skilled healthcare workforce, and regional growth through the spread of government insurance schemes.
Risks
Low Bed Occupancy: 38% utilisation means that there is a risk of underutilisation, and revenue depends on volume ramp-up in a competitive regional hospital market.
Geographic Concentration: Having only one facility in Madurai makes it more vulnerable to local economic and regulatory risks, as well as changes in Tamil Nadu's healthcare policy.
Execution Dependencies: The Radiation Oncology Centre's capital expenditures (₹25 Cr from IPO) could be delayed because 70% of its suppliers come from the top 10 vendors.
Input Cost Pressures: Rising costs of medical supplies and delays in insurance payments in a competitive sector with scaling problems.
As per the RHP filings, Hannah Joseph Hospital Ltd has strong financials with revenue growth of 19.35% in FY25 at ₹77.53 Cr and a PAT increase of 613% at ₹7.21 Cr, thanks to an increase in the number of patients and contributions from the Ayushman Bharat scheme, along with efficiencies in neurosurgery, cardiology, and trauma care segments.
Strategically positioned in the growing Indian healthcare market of ₹10 lakh Cr+, with a CAGR of 14-16% through 2030, driven by government insurance penetration from 37% to 75%, and also due to healthcare requirements for treating cancers and medical tourism, with an ROE of 28.4% and EBITDA margins of 22.5%.
The ₹34.98 Cr BSE SME IPO, which is priced between ₹67 and ₹70, trades at a fair 4.5 times FY25 sales and 20 times EPS (post-issue) compared to other hospitals. However, the fact that 46% of the shares are allocated to retail investors and only 38% of the beds are occupied makes it feel like a lottery for investors.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is only for informative purposes and not investment advice.
Action Links:
To apply for Hannah Joseph Hospital IPO, open a demat account here
Hannah Joseph Hospital IPO Subscription Status: Check live subscription here
Hannah Joseph Hospital IPO GMP Update: Check latest grey market premium here
1. What are the key dates for the Hannah Joseph Hospital IPO?
The Hannah Joseph Hospital Limited BSE SME IPO opens January 22-27, 2026, with anchor bidding on Jan 21, share allotment on Jan 28, and listing on BSE SME on Jan 30, 2026.
Track the Hannah Joseph Hospital IPO subscription status live here from Finnpick.
2. What is the Hannah Joseph Hospital IPO price band and lot size?
The IPO price band stands at ₹67-70 per share (₹10 face value), with a minimum lot size of 1,500 shares requiring ₹100,500-₹105,000 for retail investors.
3. What is the Hannah Joseph Hospital IPO FY25 financial ROE PAT?
The financials of Hannah Joseph Hospital stand at revenue of ₹77.53 Cr (+19.35% YoY), PAT ₹7.21 Cr (+613% YoY), ROE 28.4%, ROCE 35.2%, EBITDA margin 22.5%, and PAT margin 9.3% amid 38% bed occupancy.
4. How to apply for the Hannah Joseph Hospital IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by Jan. 27, 4 PM. Monitor the Hannah Joseph Hospital IPO subscription tracker here.
5. How to check the Hannah Joseph Hospital IPO allotment status?
The allotment date is on Jan 28 and can be checked on the Bigshare Services portal RTA portal using PAN/DP ID.
6. What is the Hannah Joseph Hospital IPO GMP today and subscription status?
The current Grey Market Premium (GMP) stands at ₹0-2 (flat to slight premium) as of Jan 19, indicating listing around the ₹67-72 range—check daily updates of Hannah Joseph Hospital IPO GMP trends here and live subscription status here from the Jan 22nd opening only on Finnpick.
7. What does Hannah Joseph Hospital specialise in?
The Hannah Joseph Hospital specialises in being a 150-bed NABH-accredited multispecialty hospital in Madurai, Tamil Nadu, focussing on neurosurgery, cardiology, trauma/orthopaedics, psychiatry, emergency care, ICU/CCU, Cath Lab, and NABL diagnostics with more than 5,000 annual procedures.
8. When is the Hannah Joseph Hospital IPO listing date?
The Hannah Joseph Hospital Ltd IPO lists on January 30, 2026, on BSE SME (~T+2 post-allotment Jan 28).
