Manipal Health Listing: Shares List At 11% Premium Over IPO Price

Manipal Health Enterprises made a strong stock market debut on 5 August. Its shares got listed at a premium of 11% over the initial public offering (IPO) price. Manipal Health Enterprises shares opened at ₹655 apiece on the Bombay Stock Exchange (BSE) against its issue price of ₹590 in the upper price band.

On the National Stock Exchange (NSE), the Manipal Health Enterprises shares debuted at ₹652 apiece. The Manipal Health IPO listing time followed the normal stock market schedule, generally 10 am.

Manipal Health IPO And Its Subscription

The ₹9,275.22 crore Manipal Health IPO was open for public subscription from 29 July to 31 July. The qualified institutional buyers (QIB) portion received bids for 8.25 times the shares reserved for the category, making it the strongest segment in the book. The non-institutional investor (NII) category recorded a subscription of 1.02 times. Retail individual investors (RIIs) bid for 93% of the shares earmarked for them.

Manipal Health Enterprises offered shares in the price band of ₹560 to ₹590 apiece. The public issue comprised a fresh issue of 13.56 crore equity shares worth ₹8,000 crore and an offer for sale (OFS) of 2.16 crore shares valued at ₹1,275.22 crore.

Kotak Mahindra Capital acted as the book-running lead manager for the IPO. KFin Technologies served as the registrar.

Use Of IPO Proceeds

The company has outlined a clear plan for the fresh issue proceeds. Debt reduction has the largest allocation. Key utilisation plans include the following:

• Around ₹5,378 crore for repayment of borrowings.

• ₹574 crore to acquire a minority stake in step-down subsidiary Sahyadri Hospitals.

• Remaining proceeds for general corporate purposes and future expansion.

About Manipal Health Enterprises

Founded in 2010, Manipal Health Enterprises has grown into one of India's largest healthcare providers through acquisitions, investments in medical infrastructure and expansion of digital healthcare services. As of 31 March 2026, it had:

• 49 hospitals

• 13,037 licensed beds

• 21 clinics across India

• More than 24,000 employees

• Over 11,000 nurses and 6,300 paramedics

The company provides tertiary and quaternary healthcare services across key specialities, including oncology, cardiology, neurology, orthopaedics, organ transplantation and preventive healthcare.

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