Closed
SME
ABH Healthcare IPO
ABH Healthcare IPO — dates, price band, GMP & allotment.
Subscribed
1.42×
Overall, across all categories
Min Investment
₹122,400
Lot size 1200 shares
Listing Gain
-2.94%
CMP ₹42.40
Timetable
Issue Summary
| Price Band | ₹96-102 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹34.98 Cr |
| Sale Type | Fresh capital only |
| Listing On | NSE SME |
| NSE Symbol | ABH-SM.NS |
| BSE Scrip Code | ABH |
| Min Investment | ₹122,400 |
Reservation
QIB
NII
Retail
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹122,400 |
| Retail (Max) | 1 | 1,200 | ₹122,400 |
| HNI (Min) | 2 | 2,400 | ₹244,800 |
Strengths & Risks
Strengths
- The hospital covers 25 medical specialities across 150 beds, so it is not dependent on one type of treatment.
- It is empanelled with 30 private and public insurance companies and third party administrators, which brings in cashless patients.
- It takes part in major government health schemes including ECHS, Railways, Food Corporation of India, BSNL and Ayushman Bharat Sarbat Sehat Bima Yojana, which gives a steady flow of patients.
- Net worth has improved every year shown, from Rs 0.09 crore in FY2022 to Rs 4.62 crore in FY2023, Rs 6.30 crore in FY2024 and Rs 9.58 crore as on 31 December 2024.
- The hospital runs under an established local name, Anil Baghi Hospital, and is led by a doctor led management team.
- It offers advanced procedures such as minimally invasive spine and brain surgery and bariatric surgery, which usually earn better than routine treatment.
- Rs 17.00 crore of the issue money will repay borrowings, which will reduce the interest burden.
Risks
- The financial data in the offer document is very old for an issue opening in August 2026. The latest period shown ends 31 December 2024 and is only a nine month stub, so there is no recent full year to judge the company on.
- The figures shown are internally inconsistent. For the period ended 31 December 2024 total income is shown as Rs 3.50 crore while EBITDA is shown as Rs 8.99 crore, which cannot both be right. These numbers must be checked in the RHP before relying on them.
- Profit has been falling year after year in the periods shown, from Rs 3.32 crore in FY2022 to Rs 1.66 crore in FY2023 and Rs 0.71 crore in FY2024.
- Debt is very high against own funds. Total borrowing was Rs 39.67 crore as on 31 December 2024 against a net worth of only Rs 9.58 crore, which is about four times.
- Total assets have been shrinking, from Rs 61.03 crore in FY2022 to Rs 51.35 crore in FY2023, Rs 32.96 crore in FY2024 and Rs 26.27 crore as on 31 December 2024.
- A part of the money is kept for inorganic growth through unidentified acquisitions. The company has not named any target, so investors do not know where that money will go.
- The whole business is one hospital, so any problem at that single location, whether staff, regulatory or reputational, affects everything.
- Government scheme patients usually come at fixed low rates and payments can be delayed, which puts pressure on cash flow.
- The hospital runs with 29 doctors and 137 nurses. In healthcare, patients often follow individual doctors, so losing a few key consultants can affect revenue.
- This is an SME issue. One lot is 1,200 shares, which is about Rs 1.22 lakh at the upper band of Rs 102, and SME shares usually trade in low volume after listing.
Valuation & Key Ratios
P/E Ratio
20.69
EPS (₹)
4.93
RoCE
19.09%
RoNW
39.07%
PAT Margin
10.74%
Financials (Rs. Crore)
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 26.27 | 32.96 | 51.35 | 61.03 |
| Total Income | 3.50 | 29.61 | 41.39 | 36.42 |
| Profit After Tax | 0.09 | 0.71 | 1.66 | 3.32 |
| EBITDA | 8.99 | 6.89 | 4.05 | 0.24 |
| NET Worth | 9.58 | 6.30 | 4.62 | 0.09 |
| Reserves and Surplus | 7.67 | 4.35 | 2.70 | 0.09 |
| Total Borrowing | 39.67 | 35.83 | 20.99 | 20.64 |
About The Company
ABH Healthcare Limited runs a hospital under the name Anil Baghi Hospital. It is a multi speciality hospital with 150 beds.
The hospital offers 25 medical specialities. These include cardiac sciences, neurology, minimally invasive spine and brain surgery, medical and surgical gastroenterology, laparoscopic and bariatric surgery, urology, pulmonology, nephrology, ENT and maxillofacial surgery.
The hospital is empanelled with 30 private and public health insurance companies and third party administrators, so patients can take cashless treatment. It also takes part in major government health schemes such as the Ex-Servicemen Contributory Health Scheme, Railways, Food Corporation of India, Bharat Sanchar Nigam Limited and Ayushman Bharat Sarbat Sehat Bima Yojana. As on 31 March 2025 it had 29 doctors and 137 nurses.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 8.37× | 199,200 | — |
| Non-Institutional Investors (NII) | 0.36× | 1,701,600 | — |
| Retail Individual Investors (RII) | 1.69× | 1,528,800 | — |
| Employee | 0× | — | — |
| Total | 1.42× | 3,429,600 | — |
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Grey Market Premium and pre-listing figures are unofficial, unregulated indicators and are not a forecast of listing performance. This page does not constitute investment advice. NSE & BSE Registered Authorised Person · AMFI Registered Mutual Fund Distributor · ARN 309054.
Market data provided by IPO Guru.