Manipal Health IPO: Rs 9,275 Crore Launch on July 29

Manipal Health Enterprises Ltd. is set to launch its Initial Public Offering (IPO) on July 29, targeting to raise up to Rs 9,275 crore. The prominent Indian hospital chain has fixed the price band between ₹560 and ₹590 per share.

This public issue will close on July 31, with anchor investor bidding scheduled for July 28. At the higher end of the price band, the company’s valuation is projected to exceed Rs 77,600 crore.

IPO Structure & Fund Allocation

The IPO comprises two main components:

• Fresh issue of equity shares worth up to Rs 8,000 crore.
• Offer For Sale (OFS) of up to 2.16 crore equity shares by existing shareholders.

Proceeds from the IPO are allocated for specific purposes:

• Repay or prepay borrowings of its subsidiary, Manipal Hospitals Pvt. Ltd., utilizing Rs 5,378 crore.
• Acquire a minority stake in its step-down subsidiary, Sahyadri Hospitals Pvt. Ltd., earmarking Rs 574 crore.
• The remaining funds will be used for general corporate purposes.

Manipal Health operates a comprehensive network of multispecialty hospitals across India. As of December 31, 2025, the company managed 49 hospitals with a licensed bed capacity of 12,631.

Financial Snapshot & Investor Details

For the six months ending September 30, 2025, the company reported:

• Revenue from operations of Rs 4,713 crore.
• Net profit of Rs 571.8 crore.

The IPO’s allocation structure reserves:

• Up to 75 percent for Qualified Institutional Buyers (QIBs).
• 15 percent for non-institutional investors (NIIs).
• 10 percent for retail investors.

Additional details for investors include:

• Equity shares worth up to Rs 15 crore are reserved for eligible employees.
• Employees will receive a discount of Rs 56 per share.
• Investors can bid for a minimum of 25 equity shares.

The company’s shares are slated for listing on both the BSE and NSE. This listing is anticipated to occur around August 5, marking a significant entry into the public market.