Manipal Health Enterprises ends with 4.92 times subscription

The offer received bids for 44.30 crore shares as against 9 crore shares on offer.

The initial public offer of Manipal Health Enterprises received bids for 44,30,73,025 shares as against 9,00,88,286 shares on offer. The issue was subscribed 4.92 times.

The qualified institutional buyers' (QIBs) portion was subscribed 8.25 times, the non-institutional investors (NII) category was subscribed 1.02 times and the retail individual investors category was subscribed 0.93 times.

The issue opened for bidding on 29 July 2026 and it closed on 31 July 2026. The price band of the IPO is fixed between Rs 560 and 590 per share.

The IPO comprised a fresh issue of equity shares aggregating up to Rs 8,000 crore and an offer for sale of 2,16,13,834 equity shares aggregating up to Rs 1,275.22 crore by existing shareholders, including Imperius Healthcare Investments, Manipal Education and Medical Group India, TPG SG Magazine and Seventy Second Investment Company LLC, among others.

The objectives of the fresh issue included Rs 5,552.75 crore for repayment/prepayment of certain outstanding borrowings, Rs 574 crore for the acquisition of a minority stake in its step-down subsidiary, Sahyadri Hospitals, and the remaining amount for general corporate purposes.

The promoters, including Dr. Ranjan Ramdas Pai and Manipal Global Health Services, hold 81.86% of the pre-IPO equity share capital, which is expected to decline to around 72.09% post-IPO.

Manipal Health Enterprises is one of India's leading healthcare service providers, operating 49 multi-specialty hospitals with 13,037 licensed beds across 14 states and union territories as of 31 March 2026. Backed by the Manipal Group, the company offers tertiary and quaternary care across key specialties, including cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences. It also operates a diagnostic network through ManipalTRUtest and has expanded its footprint through acquisitions such as AMRI Hospital, Medica Synergie and Sahyadri Group.

Ahead of the IPO, Manipal Health Enterprises on 28 July 2026, raised Rs 4,167.09 crore from anchor investors. The board allotted 7.06 crore shares at Rs 590 each to 133 anchor investors.

The firm reported a consolidated net profit of Rs 654.93 crore and sales of Rs 10,935.62 crore for the twelve months ended on 31 March 2026.

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