Hannah Joseph Hospital Limited IPO: ₹34.98 Crore Healthcare Offering Opens January 2026
Hannah Joseph Hospital Limited launches ₹34.98 crore IPO opening January 22-27, 2026, to fund Radiation Oncology Centre establishment. The 150-bed Madurai hospital shows strong growth with revenue rising from ₹54.62 crores (FY2023) to ₹77.53 crores (FY2025) and PAT margins improving to 9.26%. The NABH-accredited facility specializes in neurosciences and cardiology but faces risks from 38.14% bed occupancy and single-location dependency.
*this image is generated using AI for illustrative purposes only.
Hannah Joseph Hospital Limited, a multi-specialty healthcare provider established in 2008, is set to launch its Initial Public Offering (IPO) worth ₹34.98 crores. The Madurai-based hospital operates from a strategically located two-acre campus with 150-bed capacity, specializing in comprehensive neurosurgery, neurology, cardiology, psychiatry, and trauma care services. The company has achieved NABH accreditation and NABL certification, demonstrating its commitment to international healthcare standards.
IPO Timeline and Structure
The public offering opens on January 22, 2026, and closes on January 27, 2026, with allotment scheduled for January 28, 2026, and listing on January 30, 2026. The entire issue comprises fresh shares worth ₹34.98 crores, with no offer for sale component.
| Parameter | Details |
|---|---|
| Issue Size | ₹34.98 crores (Fresh Issue) |
| Opening Date | January 22, 2026 |
| Closing Date | January 27, 2026 |
| Allotment Date | January 28, 2026 |
| Listing Date | January 30, 2026 |
Strong Financial Performance
The company has demonstrated robust financial growth over the past three years. Revenue from operations increased from ₹54.62 crores in FY2023 to ₹77.53 crores in FY2025, representing a compound annual growth rate of 19.31%. More significantly, profitability has improved dramatically with PAT margins expanding from 1.84% in FY2023 to 9.26% in FY2025.
| Financial Metrics | FY2023 | FY2024 | FY2025 | Q2 FY2026 |
|---|---|---|---|---|
| Revenue from Operations (₹ cr) | 54.62 | 63.41 | 77.53 | 42.55 |
| Net Profit (₹ cr) | 1.01 | 4.07 | 7.21 | 5.12 |
| PAT Margin (%) | 1.84 | 6.40 | 9.26 | 11.98 |
| Revenue Growth (%) | - | 16.08 | 22.27 | - |
| PAT Growth (%) | - | 302.97 | 77.15 | - |
The company's balance sheet as of September 30, 2025, shows total assets of ₹104.58 crores with total equity of ₹57.06 crores and a debt-to-equity ratio of 0.83.
Use of IPO Proceeds
The primary objective of the IPO is to fund capital expenditure for establishing a Radiation Oncology Centre. This facility will provide specialized radiation therapy services for patients with brain and spinal cord tumors, offering early detection, advanced diagnostic imaging, targeted therapies, chemotherapy, radiation therapy, surgical oncology, and palliative care through a multidisciplinary approach. The remaining proceeds will be utilized for general corporate purposes including meeting operating expenses, initial development costs for projects, and strengthening business development capabilities.
Business Strengths and Specializations
Hannah Joseph Hospital has established itself as a leading healthcare provider in neurosciences with highly skilled surgeons specializing in complex brain and spinal surgeries. The hospital features state-of-the-art neuroimaging and navigation systems for precise diagnostics and surgical interventions. The facility also provides comprehensive cardiac care including diagnostic tests, interventional cardiology procedures, and cardiothoracic surgeries.
Key operational highlights include:
- Bed Capacity: 150 beds (133 operational)
- Campus Size: Two-acre facility
- Location: 134, Lake View Road K.K.Nagar, Madurai, Tamil Nadu
- Certifications: NABH accreditation and NABL certification
- Specializations: Neurosciences, cardiology, orthopedics, trauma care, and emergency services
Risk Considerations
Investors should consider several risk factors before participating in the IPO. The company's bed occupancy rate stands at 38.14% as of September 30, 2025, indicating potential capacity underutilization. The hospital derives almost all revenue from its single location in Madurai, creating geographic concentration risk. Additionally, the company has 10 pending civil litigation cases with amounts totaling ₹16.10 lakhs.
The proposed Radiation Oncology Centre, estimated to cost ₹42.68 crores, faces implementation risks as the company has not yet placed orders for medical equipment or applied for requisite government approvals. Past corporate compliance violations, including violations of Section 42 of the Companies Act, 2013, also present regulatory concerns.
Management and Operations
The hospital is led by Managing Director Mosesjoseph Arunkumar and Chief Executive Officer Fenn Kavitha Fenn Arunkumar, supported by a diverse management team across various functions. The company operates with 69.70% of total purchases concentrated among its top 10 suppliers as of September 30, 2025, creating supplier dependency risks.
Hannah Joseph Hospital's IPO presents an opportunity to invest in a growing regional healthcare provider with strong financial momentum and expansion plans, though investors must weigh these prospects against operational and regulatory risks inherent in the single-location healthcare business model.
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