Manipal Health IPO: ₹9,275 Cr Launch July 29-31

Manipal Health Enterprises is launching an Initial Public Offering worth ₹9,275.22 crore, with subscriptions open from July 29 to July 31, 2026. Shares are anticipated to list on August 5, 2026, on both the BSE and NSE.

The IPO structure includes a fresh issue of ₹8,000 crore and an Offer for Sale (OFS) totaling ₹1,275.22 crore. The company has set the price band between ₹560 and ₹590 per share. A lot size of 25 shares means a minimum investment of ₹14,750 for retail investors.

As of July 28, 2026, the Grey Market Premium (GMP) for Manipal Health Enterprises IPO stands at ₹13. This figure suggests an estimated listing premium of 2.20% over the upper price band. Investors should note that GMP is an unofficial indicator and not regulated by SEBI.

Manipal’s Extensive Healthcare Operations

Established in 2010, Manipal Health Enterprises operates as a prominent healthcare service provider in India, under the broader Manipal Group. The company manages an extensive network, including 49 hospitals with 13,037 licensed beds and 21 clinics across India. Its operations offer tertiary and quaternary healthcare services in various specialities, such as oncology, cardiology, and organ transplantation. The company employed 24,240 full-time staff as of March 31, 2026.

Financial Performance and IPO Utilization

Manipal Health Enterprises reported a total income of ₹10,520.52 crore for FY26, marking an increase from ₹8,362.79 crore in FY25. Despite this revenue growth, the Profit After Tax (PAT) for FY26 saw a decrease to ₹916.52 crore from ₹1,081.67 crore in FY25. The company’s EBITDA, however, continued to improve. Proceeds from the IPO are primarily designated for debt reduction and the acquisition of a minority stake in Sahyadri Hospitals.