ABH Healthcare IPO is a book-built SME public issue of ABH Healthcare Limited. The company is raising approximately ₹34.98 crore through a completely fresh issue of 34,29,600 equity shares with a face value of ₹10 each. The price band has been fixed at ₹96 to ₹102 per share. There is no offer-for-sale component in the issue.
The IPO opened for subscription on August 24, 2026, and will close on August 27, 2026. The basis of allotment is scheduled for August 28, refunds and demat credit are scheduled for August 31, and the shares are scheduled to list on the NSE SME platform on September 1, 2026.
ABH Healthcare operates under the Anil Baghi Hospital brand and provides multi-specialty healthcare services in Ferozepur, Punjab. The hospital has been operating since 1985, while ABH Healthcare Limited was incorporated in 2021 and acquired the Anil Baghi Hospital business in 2022.
The company’s healthcare services cover a broad range of specialties, including cardiology, neurology, neurosurgery, gastroenterology, orthopaedics, urology, pulmonology, nephrology, ENT, obstetrics and gynecology, and other medical and surgical specialties.
For FY2026, ABH Healthcare reported revenue of ₹52.59 crore and profit after tax of ₹5.64 crore, compared with revenue of ₹49.32 crore and PAT of ₹5.35 crore in FY2025.
ABH Healthcare IPO Details
| Information | Details |
|---|---|
| IPO Name | ABH Healthcare IPO |
| Company Name | ABH Healthcare Limited |
| IPO Type | Book Building Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹96 to ₹102 Per Share |
| Issue Price | ₹102 Per Share |
| Issue Size | Approx. ₹34.98 Crore |
| Fresh Issue | 34,29,600 Equity Shares |
| Fresh Issue Amount | Approx. ₹34.98 Crore |
| Offer for Sale | Nil |
| IPO Open Date | 24 August 2026 |
| IPO Close Date | 27 August 2026 |
| Basis of Allotment | 28 August 2026 |
| Refund Date | 31 August 2026 |
| Demat Credit | 31 August 2026 |
| Listing Date | 1 September 2026 |
| Listing Exchange | NSE SME |
| Market Lot | 1,200 Shares |
| Retail Minimum Application | 2 Lots / 2,400 Shares |
| Minimum Retail Investment | ₹2,44,800 |
| Lead Manager | Fedex Securities Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
The issue comprises only fresh equity shares. At the upper price band of ₹102, the 34,29,600 shares represent an issue size of approximately ₹34.98 crore.
ABH Healthcare IPO Dates
| IPO Event | Date |
|---|---|
| IPO Opening Date | 24 August 2026 |
| IPO Closing Date | 27 August 2026 |
| Basis of Allotment | 28 August 2026 |
| Refund Initiation | 31 August 2026 |
| Shares Credited to Demat | 31 August 2026 |
| Listing Date | 1 September 2026 |
The IPO is currently in its subscription period, so the final allotment and listing outcome are not yet available.
ABH Healthcare IPO Reservation
The IPO includes reservations for QIBs, NIIs, retail investors and the market maker portion.
| Investor Category | Shares Offered | Approx. Allocation |
|---|---|---|
| QIB | 1,99,200 | 5.81% of Total Issue |
| NII | 15,28,800 | 44.58% |
| Retail Investors | 15,28,800 | 44.58% |
| Market Maker | 1,72,800 | 5.04% |
| Total | 34,29,600 | 100% |
The market-maker portion accounts for 1,72,800 shares, while retail and NII categories each have 15,28,800 shares reserved.
ABH Healthcare IPO Lot Size
The market lot for ABH Healthcare IPO is 1,200 shares. At the upper price band of ₹102 per share, one lot is worth ₹1,22,400. Retail investors must apply for at least two lots, or 2,400 shares, requiring an investment of ₹2,44,800.
| Application | Lots | Shares | Amount at ₹102 |
|---|---|---|---|
| Retail Minimum | 2 Lots | 2,400 Shares | ₹2,44,800 |
| Retail Maximum | 2 Lots | 2,400 Shares | ₹2,44,800 |
| S-HNI Minimum | 3 Lots | 3,600 Shares | ₹3,67,200 |
| S-HNI Maximum | 8 Lots | 9,600 Shares | ₹9,79,200 |
| B-HNI Minimum | 9 Lots | 10,800 Shares | ₹11,01,600 |
The minimum application size is based on the upper price band of ₹102.
About ABH Healthcare Limited
ABH Healthcare Limited is a healthcare services company operating the Anil Baghi Hospital in Ferozepur, Punjab.
The hospital was established in 1985 and has developed into a multi-specialty healthcare institution. ABH Healthcare Limited was incorporated in March 2021 and subsequently acquired the Anil Baghi Hospital business in 2022. The company was converted from a private limited company into a public limited company in November 2024.
The company provides medical and surgical healthcare services across multiple specialties. Its operations include both routine and specialized treatment services, supported by doctors, nursing staff, medical equipment and hospital infrastructure.
The company’s hospital is located in Ferozepur, Punjab. Its business model is primarily focused on providing healthcare services to patients from Ferozepur and surrounding areas. The company also has empanelments with various government and private healthcare schemes and organizations.
The hospital’s official information states that it provides tertiary-care services and has NABH accreditation. Its medical infrastructure includes facilities such as a cath lab, MRI, ultrasound, bronchoscopy and other diagnostic and treatment equipment.
ABH Healthcare Business Operations
ABH Healthcare operates as a multi-specialty healthcare service provider.
- Cardiology: Heart-related diagnosis and treatment services.
- Neurology: Treatment and management of neurological conditions.
- Neurosurgery: Surgical treatment for neurological disorders.
- Orthopaedics: Orthopaedic treatment and joint-related procedures.
- Urology: Medical and surgical urological services.
- Pulmonology: Respiratory and lung-related healthcare services.
- Nephrology: Kidney-related medical care.
- Gastroenterology: Medical and surgical gastrointestinal services.
- Obstetrics and Gynecology: Women’s healthcare and maternity services.
- ENT: Ear, nose and throat treatment.
- Paediatrics: Healthcare services for children.
- Radiology: Diagnostic imaging services.
- General Surgery: General and laparoscopic surgical procedures.
- Emergency Care: Emergency, trauma and critical-care services.
- Physiotherapy: Rehabilitation and physiotherapy services.
The hospital’s official information lists several medical departments and specialist services, supported by a team of doctors and medical staff.
Healthcare Industry Overview
India’s healthcare sector includes hospitals, diagnostic centres, pharmaceutical companies, medical-device businesses and healthcare-service providers. Hospital businesses can benefit from rising healthcare awareness, increasing demand for specialized treatment and greater use of organized healthcare facilities.
Regional hospitals can play an important role by providing specialized treatment closer to patients who might otherwise need to travel to larger metropolitan cities.
At the same time, hospital businesses are capital-intensive and require continuous investment in medical equipment, technology, trained professionals and infrastructure.
Healthcare providers also operate in a highly regulated environment. Compliance with healthcare regulations, accreditation standards, patient-safety requirements and applicable laws is essential for maintaining operations and reputation.
Competition can also be significant, particularly when hospitals compete with government hospitals, established private hospitals, specialist centres and other healthcare providers in the same geographic market.
ABH Healthcare Business Strategy
The company intends to use the IPO proceeds primarily for repayment or prepayment of borrowings and funding working-capital requirements.
Approximately ₹17 crore has been earmarked toward repayment or prepayment, in part or full, of certain borrowings. Another ₹5 crore is proposed for funding working-capital requirements. The remaining proceeds are intended for general corporate purposes and other disclosed objects.
The debt-repayment component is significant because the company’s borrowings stood at ₹45.75 crore as of March 31, 2026. Reducing borrowings could help lower the company’s financial burden, although the actual effect will depend on the terms of the debt being repaid and the company’s future borrowing requirements.
Working capital is another important requirement for hospital operations because healthcare businesses have ongoing expenses related to medical supplies, employee costs, equipment, utilities and other operating requirements.
ABH Healthcare IPO Financial Information
ABH Healthcare reported growth in revenue over the three financial years.
Revenue increased from ₹41.39 crore in FY2024 to ₹49.32 crore in FY2025 and ₹52.59 crore in FY2026. Profit after tax increased from ₹1.66 crore in FY2024 to ₹5.35 crore in FY2025 and ₹5.64 crore in FY2026.
The company reported total assets of ₹85.27 crore and net worth of ₹17.27 crore as of March 31, 2026. Borrowings stood at ₹45.75 crore at the same date.
ABH Healthcare Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | ₹41.39 Crore | ₹49.32 Crore | ₹52.59 Crore |
| Total Expenses | ₹39.19 Crore | ₹41.89 Crore | ₹44.66 Crore |
| EBITDA | ₹6.89 Crore | ₹13.20 Crore | ₹14.72 Crore |
| Profit After Tax | ₹1.66 Crore | ₹5.35 Crore | ₹5.64 Crore |
| Net Worth | ₹6.30 Crore | ₹11.60 Crore | ₹17.27 Crore |
| Total Assets | ₹51.35 Crore | ₹63.90 Crore | ₹85.27 Crore |
| Borrowings | ₹30.59 Crore | ₹33.78 Crore | ₹45.75 Crore |
The financial information shows improvement in revenue, EBITDA and profitability between FY2024 and FY2026. Borrowings and total assets also increased during the period.
ABH Healthcare IPO Key Performance Indicators
| KPI | FY2026 |
|---|---|
| Revenue | ₹52.59 Crore |
| EBITDA | ₹14.72 Crore |
| PAT | ₹5.64 Crore |
| EPS | ₹7.05 |
| NAV | ₹21.58 |
| ROE | 39.07% |
| ROCE | 19.09% |
| RoNW | 39.07% |
| EBITDA Margin | 28.03% |
| PAT Margin | 10.74% |
| Debt-to-Equity | 3.20x |
| P/BV | 4.73x |
The FY2026 figures show a reported ROE of 39.07%, ROCE of 19.09% and EBITDA margin of 28.03%. However, the debt-to-equity ratio of 3.20x indicates relatively high leverage.
ABH Healthcare IPO Valuation
The price band for the IPO is ₹96 to ₹102 per share. At the upper price band, the company’s post-issue market capitalisation is approximately ₹116.58 crore.
Based on FY2026 earnings, the reported pre-issue P/E is approximately 14.47x, while the post-issue P/E is approximately 20.69x. The reported FY2026 NAV is ₹21.58 per share.
| Particular | Details |
|---|---|
| Price Band | ₹96 – ₹102 |
| Upper Issue Price | ₹102 |
| Face Value | ₹10 |
| FY2026 EPS | ₹7.05 |
| FY2026 NAV | ₹21.58 |
| Pre-Issue P/E | 14.47x |
| Post-Issue P/E | 20.69x |
| ROE | 39.07% |
| ROCE | 19.09% |
| EBITDA Margin | 28.03% |
| PAT Margin | 10.74% |
| Debt-to-Equity | 3.20x |
| P/BV | 4.73x |
| Post-Issue Market Capitalisation | Approx. ₹116.58 Crore |
Investors should evaluate the valuation along with the company’s debt level, earnings sustainability, geographic concentration and competitive position.
Objects of the ABH Healthcare IPO
The company has disclosed three broad objects for utilisation of the IPO proceeds.
| Purpose | Amount |
|---|---|
| Repayment / Prepayment of Certain Borrowings | ₹17.00 Crore |
| Funding Working Capital Requirements | ₹5.00 Crore |
| General Corporate Purposes / Other Objects | Balance Proceeds |
| Total Issue Size | Approx. ₹34.98 Crore |
The largest identified component is repayment or prepayment of borrowings, followed by working-capital requirements.
ABH Healthcare IPO GMP
The Grey Market Premium is an unofficial and unregulated indicator. It is not determined by the stock exchanges and should not be considered a guaranteed indication of the eventual listing price.
As of August 25, 2026, no reliable GMP figure was available for ABH Healthcare IPO. Therefore, a numerical GMP has not been inserted.
| Date | GMP |
|---|---|
| 19 August 2026 | Not Available |
| 20 August 2026 | Not Available |
| 21 August 2026 | Not Available |
| 22 August 2026 | Not Available |
| 24 August 2026 | Not Available |
| 25 August 2026 | Not Available |
The absence of a confirmed GMP figure is preferable to publishing an unverified premium, particularly while the IPO is still open for subscription.
ABH Healthcare IPO Subscription Status
ABH Healthcare IPO is currently open for subscription and the final subscription figure is therefore not available yet.
As of 5:00 PM on August 25, 2026, the issue had received 0.79 times overall subscription. The institutional category had received 8.37 times subscription, while the NII category stood at 0.45 times and the retail category at 0.63 times.
| Investor Category | Subscription as of 25 Aug 2026 |
|---|---|
| QIB / Institutional | 8.37x |
| NII | 0.45x |
| Retail | 0.63x |
| Total | 0.79x |
These are interim subscription figures and can change substantially on the final bidding day.
ABH Healthcare IPO Day-Wise Subscription
| Day | QIB / Institutional | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 | To be updated after final exchange data | To be updated | To be updated | To be updated |
| Day 2 | 8.37x* | 0.45x* | 0.63x* | 0.79x* |
| Day 3 | To be confirmed | To be confirmed | To be confirmed | To be confirmed |
*Subscription figures shown above are the reported figures as of 5:00 PM on August 25, 2026, not final IPO subscription figures.
ABH Healthcare IPO Listing Performance
ABH Healthcare shares are scheduled to list on the NSE SME platform on September 1, 2026.
Since the IPO has not yet closed and the listing has not occurred, the actual listing price and listing gain cannot be stated in advance.
| Particular | Value |
|---|---|
| Listing Exchange | NSE SME |
| Listing Date | 1 September 2026 |
| Issue Price | ₹102 Per Share |
| Listing Price | To be confirmed |
| Listing Gain | To be confirmed |
| Listing Gain (%) | To be confirmed |
The listing price will be determined by market trading on the listing date and should not be estimated as a confirmed figure before the shares begin trading.
ABH Healthcare IPO Review
ABH Healthcare has an established healthcare-services business centred on Anil Baghi Hospital in Ferozepur, Punjab. The hospital has a long operating history dating back to 1985, while the current corporate entity acquired the hospital business in 2022.
One of the company’s key strengths is its multi-specialty model. It provides services across numerous medical and surgical departments, reducing dependence on a single medical specialty.
The company has also reported improvement in its financial performance. Revenue increased from ₹41.39 crore in FY2024 to ₹52.59 crore in FY2026, while PAT increased from ₹1.66 crore to ₹5.64 crore over the same period.
EBITDA increased from ₹6.89 crore in FY2024 to ₹14.72 crore in FY2026. The company reported a FY2026 EBITDA margin of 28.03% and PAT margin of 10.74%.
The IPO proceeds also address an important financial requirement. ₹17 crore is proposed for repayment or prepayment of borrowings, which could help reduce the company’s debt burden and related financing costs.
However, leverage remains an important concern. Borrowings stood at ₹45.75 crore as of March 31, 2026, resulting in a reported debt-to-equity ratio of 3.20x.
Another significant consideration is geographic concentration. The company’s revenues are substantially dependent on its hospital operations in Ferozepur. A concentrated operating base can expose the business to local competition, changes in patient volumes and regional economic conditions.
The hospital also operates from leased premises, which means the company does not own the premises in which the hospital operates. This can create risks relating to lease terms, renewal and occupancy costs.
The healthcare sector is competitive and highly regulated. ABH Healthcare must continue investing in medical equipment, technology, qualified healthcare professionals and infrastructure to maintain service quality and remain competitive.
At the upper issue price, the reported post-issue P/E is approximately 20.69x based on FY2026 earnings. Investors therefore need to assess whether future earnings growth can justify the valuation while taking the company’s leverage and concentration risks into account.
Overall, ABH Healthcare presents a combination of an established regional hospital business, multi-specialty healthcare services and improving recent financial performance. However, the high debt-to-equity ratio, dependence on a single hospital and competitive healthcare environment are important factors that investors should evaluate before making an investment decision.
ABH Healthcare IPO Strengths
- Established healthcare business with a hospital operating since 1985.
- Multi-specialty healthcare service model.
- Operates under the Anil Baghi Hospital brand.
- NABH-accredited hospital.
- Broad range of medical and surgical specialties.
- Experienced medical and management team.
- Modern medical and diagnostic infrastructure.
- Empanelment with various government and healthcare schemes.
- Revenue increased from ₹41.39 crore in FY2024 to ₹52.59 crore in FY2026.
- PAT increased from ₹1.66 crore to ₹5.64 crore during the same period.
- FY2026 EBITDA stood at ₹14.72 crore.
- FY2026 EBITDA margin stood at 28.03%.
- FY2026 ROE was reported at 39.07%.
- IPO proceeds include ₹17 crore for debt repayment or prepayment.
- IPO proceeds include ₹5 crore for working-capital requirements.
ABH Healthcare IPO Risk Factors
- Significant dependence on a single hospital in Ferozepur.
- High debt-to-equity ratio of 3.20x as of March 31, 2026.
- Borrowings stood at ₹45.75 crore as of March 31, 2026.
- Healthcare is a highly competitive and fragmented industry.
- Hospital operations require continuous investment in medical equipment and technology.
- Dependence on qualified doctors, medical professionals and key personnel.
- Loss of key healthcare professionals could affect operations.
- Healthcare businesses are subject to regulatory requirements.
- Legal claims and regulatory actions can affect healthcare providers.
- The hospital premises are operated on a leasehold basis.
- Regional concentration can expose the company to local-market risks.
- Changes in healthcare policies or reimbursement arrangements can affect revenue.
- Higher operating costs can put pressure on margins.
- SME stocks can experience higher volatility and comparatively lower liquidity.
- Recent earnings growth may not necessarily continue at the same rate.
- The IPO valuation should be assessed against future earnings and business risks.
ABH Healthcare IPO Promoters
The promoters of ABH Healthcare Limited are Dr. Kamal Baghi, Dr. Saurabh Baghi and Dr. Vaishali Saini.
| Promoter | Status |
|---|---|
| Dr. Kamal Baghi | Promoter |
| Dr. Saurabh Baghi | Promoter |
| Dr. Vaishali Saini | Promoter |
The promoters collectively held approximately 100% of the company before the IPO. Following the fresh issue, promoter and promoter-group ownership is expected to reduce to approximately 69.99%.
ABH Healthcare IPO Lead Manager Details
| Particular | Details |
|---|---|
| Lead Manager | Fedex Securities Pvt. Ltd. |
| Role | Book Running Lead Manager |
| Listing Exchange | NSE SME |
Fedex Securities Pvt. Ltd. is the lead manager for the issue.
ABH Healthcare IPO Registrar Details
| Particular | Details |
|---|---|
| Registrar | Bigshare Services Pvt. Ltd. |
| Role | Registrar to the Issue |
| Registered Office | Andheri East, Mumbai |
| Phone | 022-6263 8200 |
| [email protected] |
Bigshare Services Pvt. Ltd. is appointed as the registrar to the IPO.
ABH Healthcare Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | ABH Healthcare Limited |
| Former Name | ABH Healthcare Private Limited |
| CIN | U85300PB2021PLC052886 |
| Registered Office | Martyr Anil Baghi Road, Firozpur, Punjab – 152002 |
| Telephone | 01632-220555 / 220556 |
| Investor Contact | Rahul Sharma |
| Investor Email | [email protected] |
| Company Website | anilbaghihospital.com |
The company’s official investor information identifies its registered office in Firozpur, Punjab and provides Rahul Sharma as the company secretary and compliance officer for investor queries.
How to Check ABH Healthcare IPO Allotment Status
Investors can check the ABH Healthcare IPO allotment status after the basis of allotment is finalised.
The allotment is scheduled for August 28, 2026.
Through Bigshare Services
- Open the IPO allotment-status facility.
- Select ABH Healthcare Limited.
- Choose the relevant identification method.
- Enter the PAN or application details.
- Complete the required verification.
- Submit the details to view the allotment status.
Through NSE
Investors can also check the applicable NSE IPO application-status facility using their application information.
The refund and demat-credit process is scheduled for August 31, followed by the proposed NSE SME listing on September 1, 2026.
ABH Healthcare IPO Conclusion
ABH Healthcare IPO is a ₹34.98 crore SME public issue consisting entirely of fresh equity shares. The price band has been fixed at ₹96 to ₹102 per share, with a minimum retail application of 2,400 shares requiring ₹2,44,800 at the upper price band.
The company operates the Anil Baghi Hospital in Ferozepur, Punjab. The hospital has a long operating history dating back to 1985 and provides multi-specialty healthcare services.
ABH Healthcare’s financial performance has improved in recent years. Revenue increased from ₹41.39 crore in FY2024 to ₹52.59 crore in FY2026, while PAT increased from ₹1.66 crore to ₹5.64 crore.
The company intends to use ₹17 crore of the IPO proceeds toward repayment or prepayment of borrowings and ₹5 crore toward working capital. This makes debt reduction a significant part of the IPO’s purpose.
At the same time, investors should carefully consider the company’s debt-to-equity ratio of 3.20x, dependence on a single hospital, leasehold premises, competitive healthcare market and regulatory exposure.
The IPO is scheduled to close on August 27, 2026, with allotment on August 28 and listing on the NSE SME platform on September 1, 2026. As the issue is still open, final subscription data and actual listing performance cannot yet be confirmed.
For investors evaluating ABH Healthcare for the long term, the key factors to monitor are patient volumes, hospital capacity utilisation, revenue growth, profitability, debt reduction, working-capital requirements and the company’s ability to maintain its competitive position in the regional healthcare market.
ABH Healthcare IPO FAQs
What is ABH Healthcare IPO?
ABH Healthcare IPO is a book-built SME public issue of ABH Healthcare Limited comprising 34,29,600 fresh equity shares.
What is the ABH Healthcare IPO price?
The ABH Healthcare IPO price band is ₹96 to ₹102 per equity share.
What is the ABH Healthcare IPO issue size?
The total issue size is approximately ₹34.98 crore and consists entirely of a fresh issue.
What is the ABH Healthcare IPO lot size?
The market lot is 1,200 shares. Retail investors need to apply for a minimum of two lots, or 2,400 shares, requiring ₹2,44,800 at the upper price band.
When is the ABH Healthcare IPO allotment date?
The basis of allotment is scheduled for August 28, 2026.
When is the ABH Healthcare IPO listing date?
ABH Healthcare shares are scheduled to list on the NSE SME platform on September 1, 2026.
What is the ABH Healthcare IPO subscription status?
As of 5:00 PM on August 25, 2026, the IPO was subscribed 0.79 times overall, with institutional investors at 8.37x, NIIs at 0.45x and retail investors at 0.63x. These are interim figures because the issue remains open until August 27.
What is the ABH Healthcare IPO GMP?
No reliable numerical GMP was available as of August 25, 2026. GMP is unofficial and should not be treated as a guaranteed listing-price indicator.
What does ABH Healthcare Limited do?
ABH Healthcare provides multi-specialty healthcare services through Anil Baghi Hospital in Ferozepur, Punjab. Its services cover several medical and surgical specialties.
Who are the promoters of ABH Healthcare?
The promoters are Dr. Kamal Baghi, Dr. Saurabh Baghi and Dr. Vaishali Saini.
