Shanmuga Hospital IPO Day 2: BSE SME issue fully subscribed; check offer size and key dates

The BSE SME initial public offering (IPO) of multi-speciality healthcare services provider Shanmuga Hospital Ltd has been fully subscribed on Friday, the second day of bidding.

The ₹20.62-crore public offer will conclude on February 17.

The retail portion received bids for 33.98 lakh shares against the allocated quota of 18.13 lakh shares. The retail allocation was booked 1.87 times.

The non-institutional investors (NII) applied for 3.34 lakh shares against 18.23 lakh shares set aside for them. The NIIs segment was booked 18%.

Here are the key details about the Shanmuga Hospital IPO for the investors looking forward to participating in the bidding process.

Shanmuga Hospital IPO offer size, price band and other key details

Shanmuga Hospital IPO is entirely a fresh issue of 38.18 lakh shares worth ₹20.62 crore. The IPO price has been fixed at ₹54 per share.

Finshore Management Services Ltd is the book-running lead manager of the issue and Integrated Registry Management Services Private Ltd is the registrar of the issue.

The minimum application size for retail investors in the Shanmuga Hospital IPO is 2,000 shares, which requires an investment of ₹1,08,000. For High Net-Worth Individuals (HNIs), the minimum application size is double that of retail investors, at 4,000 shares, amounting to ₹2,16,000.

Shanmuga Hospital IPO key dates

After the end of the subscription period, the company is expected to finalise the IPO share allotment status on February 18. Refunds and transfer of shares to the Demat accounts will be done on February 19.

Shanmuga Hospital IPO listing date has been tentatively fixed as February 20. Shares of Shanmuga Hospital will be listed on the BSE SME platform.

Use of IPO proceeds

The company plans to use the proceeds from the IPO to fund capital expenditure aimed at purchasing additional medical equipment and for general corporate purposes.

About Shanmuga Hospital

Founded in Salem, Tamil Nadu, Shanmuga Hospital is a multi-specialty medical facility boasting a 151-bed capacity. The hospital was incorporated in 2020.

Shanmuga Hospital offers a wide range of services including oncology, emergency care, cardiac care, intensive care, neurosurgery, and neonatal care, among others. Equipped with advanced healthcare technology, Shanmuga Hospital caters to the medical needs of the region, establishing itself as a leading healthcare provider.

Shanmuga Hospital IPO key financials

For the six-month period ended September 30, 2024, Shanmuga Hospital’s revenue stood at ₹24.83 crore and net profit at ₹2.39 crore.

In FY24, the company reported a net profit of ₹5.26 crore compared to ₹4.76 crore in the preceding fiscal. The hospital’s revenue in FY24 increased to ₹43.39 crore compared to ₹39.50 crore in FY23.