Manipal Health IPO: Price Band Rs 560-590, Opens July 29

Manipal Health Enterprises, operating Manipal Hospitals, set its Initial Public Offering (IPO) price band between Rs 560 and Rs 590 per share. The Rs 9,275 crore offering opens for subscription from July 29 to July 31.

The IPO includes a fresh issue of shares worth up to Rs 8,000 crore. An offer for sale (OFS) by existing investors accounts for Rs 1,275.21 crore of the total.

Strategic Capital Deployment

Funds from the fresh issue will repay specific borrowings and accrued interest for its subsidiary, Manipal Hospitals Pvt Ltd. The capital also supports acquiring a minority stake in Sahyadri Hospitals Pvt Ltd, alongside general corporate requirements.

Manipal Health aims to boost its brand visibility among customers. The listing also establishes a public market for its equity shares in India.

Investor Participation Details

Investors can apply for a minimum of 25 shares, with subsequent applications in multiples. The issue allocates 75 percent for qualified institutional buyers (QIBs).

Non-institutional investors receive 15 percent of the allocation. Retail investors are allotted the remaining 10 percent.

Extensive Network Presence

As of March 2026, Manipal Health operates 49 hospitals across 14 Indian states and union territories. These facilities collectively offer 13,037 licensed beds.

The company’s prospectus confirms its position as India’s largest pan-India multispecialty hospital network by bed capacity. It also ranks as the second-largest hospital chain by number of hospitals.

Issue Management Team

Prominent financial institutions manage the issue. These include Kotak Mahindra Capital, Axis Capital, JPMorgan India, Goldman Sachs (India) Securities, Jefferies India, DBS Bank, and UBS Securities India.

KFin Technologies serves as the official registrar for the IPO.