Shanmuga Hospital IPO Opens for Subscription, Aims to Raise INR 20.62 Cr

The proceeds from the IPO will be used for capital expenditure, including the purchase of additional medical equipment, and for general corporate purposes.

The initial public offering (IPO) of Shanmuga Hospital opened for subscription on Thursday, February 13, with a target to raise INR 20.62 Cr. The IPO will remain open for bidding until Monday, February 17.

The offering consists of a fresh issue of 38.18 lakh shares at INR 54 per share. The minimum lot size for retail investors is 2,000 shares, requiring an investment of INR 1,08,000.

The proceeds from the IPO will be used for capital expenditure, including the purchase of additional medical equipment, and for general corporate purposes.

The shares of Shanmuga Hospital are expected to be listed on the BSE SME platform on Thursday, February 20.

On the first day of bidding, the IPO was subscribed 0.18 times overall. The retail investor portion saw a 0.34 times subscription, while the non-institutional investor (NII) segment was subscribed 0.02 times.

The grey market premium (GMP) for Shanmuga Hospital IPO stood at INR 8 per share on the opening day. Based on this, the estimated listing price could be INR 62 per share, reflecting a 14.81% premium over the issue price of INR 54.

Shanmuga Hospital, a multispecialty healthcare facility in Salem, Tamil Nadu, has 151 beds and is accredited by the National Accreditation Board for Hospitals and Healthcare (NABH) and the National Accreditation Board for Testing and Calibration Laboratories (NABL).

The hospital offers services in oncology, neurosurgery, cardiology, and intensive care. It is equipped with specialized units such as the High Dependency Unit (HDU), Emergency Department (ED), Cardiac Care Unit (CCU), Intensive Care Unit (ICU), Neonatal Intensive Care Unit (NICU), and modular operation theatres.

The Diagnostic Centre provides X-ray, ultrasound, CT scan, MRI, and endoscopy services. The hospital offers both inpatient and outpatient care, covering a wide range of medical and surgical specialties.

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