Manipal Hospitals IPO Lists Aug 5th: Strong 4.92x Subscription

Manipal Hospitals is set to list on Wednesday, August 5th, 2026, on the stock market. The public issue saw an overall subscription of 4.92 times during its offer period.

Subscription Breakdown

The strong investor interest was evident across categories:

• Qualified Institutional Buyers (QIB) subscribed 8.25 times.
• Non-Institutional Investors (NII) saw a subscription of 1.02 times.
• Retail Individual Investors (RII) bid for 93% of their reserved shares.

Ahead of its debut, Manipal Health Enterprises shares are trading with a grey market premium (GMP) of approximately ₹1.5.

Anticipated Listing

This GMP suggests a potential listing price slightly above the upper price band:

• Anticipated listing price: around ₹591.5 per share.
• IPO price band: ₹560 to ₹590 per share.

The total IPO size for Manipal Health Enterprises reached ₹9,275.22 crore.

Issue Composition & Fund Allocation

• Fresh issue: 13.56 crore equity shares, aggregating ₹8,000 crore.
• Offer for Sale (OFS): 2.16 crore shares, worth ₹1,275.22 crore.

Proceeds from the fresh issue are primarily aimed at strengthening the company’s balance sheet and strategic investments:

• Debt repayment: ₹5,378 crore to reduce borrowing costs.
• Acquisition: ₹574 crore for a minority stake in Sahyadri Hospitals.
• Remaining funds: Allocated for general corporate purposes and future growth.

Established in 2010, Manipal Health Enterprises operates as a leading Indian healthcare provider. It manages a network of multi-specialty hospitals, clinics, and diagnostic centers, offering comprehensive tertiary and quaternary care in key specialties.

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