By Wealthova | Last Updated: August 21, 2026
ABH Healthcare Limited, a prominent healthcare provider operating the 150-bed Anil Baghi Hospital in Punjab, is gearing up to make its primary market debut with an upcoming ₹34.98 Crore SME IPO. Specializing in tertiary medical care across 25 clinical specialties—including cardiac sciences, neurology, and orthopaedics—the company operates a technology-enabled clinical infrastructure serving the Tier 3 catchment of Ferozepur and surrounding regions. The subscription window for this book-built issue opens on August 24 and closes on August 27, 2026. The price band is set between ₹96 to ₹102 per equity share, comprising entirely of a fresh issue of ₹34.98 Crore, with no Offer for Sale (OFS) component. The company plans to utilize the fresh capital primarily to fund strategic expansion—allocating funds for the repayment or prepayment of outstanding borrowings, meeting working capital requirements, and pursuing inorganic growth through unidentified acquisitions—alongside general corporate purposes. Set to list on the NSE SME platform, market participants are closely watching this established regional healthcare provider. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!
August 24, 2026
August 26, 2026
₹96 to ₹102
1,200 Shares
(Min. 2 Lots for Retail)₹34.98 Cr
₹34.98 Cr
46.94% Allocation
₹10 Base
SME (NSE Emerge)
Incorporated in 2021, ABH Healthcare Limited operates the renowned Anil Baghi Hospital, a leading multi-specialty tertiary care facility located in Ferozepur, Punjab. Originally established in 1985 with just 30 beds, the hospital was acquired by the company in 2022 and has since transformed into a highly modernized, comprehensive healthcare hub.
Here is a breakdown of ABH Healthcare’s core operations and market presence:
The ABH Healthcare IPO is a book-built SME issue comprising entirely of a Fresh Issue of ₹34.98 Crore (representing 34.29 Lakh shares). Importantly, there is no Offer for Sale (OFS) component, meaning 100% of the raised capital will go directly into the company.
The company intends to utilize the net proceeds from the fresh capital for the following strategic objectives:
| 📅 Period Ended | 📈 Total Income | 💼 Net Worth | 💰 PAT | 🏦 Assets |
|---|---|---|---|---|
| FY 2024 | ₹41.39 | ₹6.30 | ₹1.66 | ₹51.35 |
| FY 2025 | ₹49.32 | ₹11.60 | ₹5.35 | ₹63.90 |
| FY 2026 | ₹52.59 | ₹17.27 | ₹5.64 | ₹85.27 |
| Financial KPI (FY26)* | Value |
|---|---|
| Return on Equity (ROE) | 39.07% (FY26) |
| Return on Capital Employed (ROCE) | 19.09% (FY26) |
| EBITDA Margin | 28.03% (FY26) |
| PAT Margin | 10.74% (FY26) |
| Debt to Equity Ratio | 3.20 (FY26) |
| Return on Net Worth (RoNW) | 39.07% (FY26) |
| Earnings Per Share (EPS) | ₹7.05 (Pre-IPO) | ₹4.93 (Post-IPO) |
| Price/Earning (P/E) Ratio | 14.47x (Pre-IPO) | 20.69x (Post-IPO) |
| Net Asset Value (NAV) | ₹21.58 (Pre-IPO) |
| Shareholder Category | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoter & Promoter Group | 100.00% | 69.99% |
| Public / Institutional / Others | 0.00% | 30.01% |
ABH Healthcare Limited is promoted by Dr. Kamal Baghi, Saurabh Baghi, and Vaishali Saini. Prior to the issue, the promoter group held a complete 100.00% stake in the company. Post-issue, factoring in the ₹34.98 Crore fresh equity dilution (with absolutely no Offer for Sale), the promoter holding will adjust to 69.99%. The ₹17.00 Crore allocation directed toward debt repayment highlights the management's strategic focus on deleveraging the hospital's balance sheet, making their post-IPO valuation metrics highly competitive against other regional healthcare and hospital peers.
| Company Name | EPS (₹) | P/E Ratio (Post-IPO) | RoNW (%) |
|---|---|---|---|
| ABH Healthcare Ltd (IPO) | 4.93 | 20.69 | 39.07% |
| Kovai Medical Center & Hospital Ltd | 97.45 | 38.50 | 18.15% |
| KMC Speciality Hospitals (India) Ltd | 1.85 | 46.20 | 22.40% |
| Artemis Medicare Services Ltd | 3.20 | 58.15 | 11.90% |
ABH Healthcare Limited occupies an established regional position in Punjab's healthcare ecosystem through its 150-bed multi-specialty tertiary care facility, Anil Baghi Hospital in Ferozepur. Providing specialized treatments across 25 clinical fields—including cardiac sciences, neurosurgery, and orthopaedics—the hospital benefits from strong patient loyalty, empanelment with over 30 insurance TPAs, and high participation in public welfare schemes (ECHS, Railways, Ayushman Bharat). This clinical foundation translated into total revenue of ₹52.59 Crore in FY26, alongside healthy operational profitability featuring an EBITDA margin of 28.03% and a PAT margin of 10.74%.
A major positive for incoming investors is the issue structure: the ₹34.98 Crore IPO is a 100% Fresh Issue with zero Offer for Sale (OFS), meaning no promoter is encashing equity. More importantly, allocating ₹17.00 Crore (48.60% of the proceeds) directly toward debt repayment strategically addresses the company's primary financial vulnerability—its elevated Debt-to-Equity ratio of 3.20x in FY26. Deleveraging will meaningfully lower finance costs and expand net profit margins post-listing. On the downside, investors must account for significant geographical concentration, as the company relies entirely on a single hospital operating on leased premises.
At the upper price band of ₹102, the stock is valued at a post-IPO P/E multiple of 20.69x (based on FY26 post-issue EPS of ₹4.93). This valuation leaves reasonable room on the table compared to listed hospital peers such as Kovai Medical (38.50x) and KMC Speciality (46.20x). Backed by an exceptional Return on Net Worth (RoNW) of 39.07% and substantial post-issue interest cost savings, ABH Healthcare is a fundamentally sound SME bet suitable for investors seeking regional healthcare exposure who are comfortable with single-facility concentration risks.
Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and retail equities are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.
| Role / Entity | Contact & Details |
|---|---|
| 📋 IPO Registrar |
Bigshare Services Private Limited
Office No S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri East, Mumbai – 400093, Maharashtra, India
Phone: +91-22-6263-8200
Email: ipo@bigshareonline.com
Website: bigshareonline.com
|
| 🏢 Company Contact |
ABH Healthcare Limited (Anil Baghi Hospital)
Anil Baghi Road, Ferozepur – 152002, Punjab, India
Phone: +91-78886-90018
Email: investor@anilbaghihospital.com
Website: abhhealthcare.org
|
| 💼 Merchant Bankers |
Fedex Securities Private Limited
B 7, 3rd Floor, Jay Chambers, Dayaldas Road, Vile Parle [East], Mumbai – 400057, Maharashtra, India
Phone: +91-81049-85249
Email: mb@fedsec.in
Website: fedsec.in
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