Manipal Health ₹9,275-cr IPO Launches July 29

Manipal Health Enterprises Ltd, a leading hospital chain in India, will launch its Initial Public Offering (IPO) on July 29 to raise up to ₹9,275 crore. The IPO will comprise a fresh issue of equity shares worth up to ₹8,000 crore and an Offer For Sale (OFS) of up to 2.16 crore equity shares by existing shareholders.

The price band for the IPO has been fixed at ₹560-590 per share, valuing the company at a little over ₹77,600 crore at the higher end. The company plans to use the proceeds to repay or prepay borrowings of its subsidiary, Manipal Hospitals Pvt. Ltd, and to acquire the minority stake in step-down subsidiary Sahyadri Hospitals Pvt. Ltd.

The Bengaluru-based company operates a pan-India network of multispecialty hospitals offering services ranging from outpatient care to tertiary and quaternary interventions. As of September 30, 2025, it operated 38 hospitals, or 48 on a pro forma basis, with 10,761 licensed beds, or 12,367 on a pro forma basis, across 14 states and Union Territories.

In November 2025, the company commenced operations at its 49th hospital in Bengaluru, taking its licensed bed capacity to 12,631 as of December 31, 2025. For the six months ended September 30, 2025, the company reported revenue from operations of ₹4,713 crore and a net profit of ₹571.8 crore.

The IPO will be open for three days, concluding on July 31, while the anchor investor bidding is scheduled for July 28. The company's shares are proposed to be listed on the BSE and NSE on or about August 5.

The allocation structure for the IPO has been set, with Qualified Institutional Buyers (QIBs) receiving up to 75 per cent of the offer, non-institutional investors (NIIs) 15 per cent, and retail investors 10 per cent. Equity shares aggregating up to ₹15 crore have been reserved for eligible employees, who will be offered a discount of ₹56 per share.

The book-running lead managers to the issue are Axis Capital, Kotak Mahindra Capital Company, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India, and DBS Bank India, while KFin Technologies is the registrar.

The IPO launch is a significant development for Manipal Health Enterprises, as it seeks to raise funds to expand its operations and strengthen its position in the Indian healthcare market. The company's strong financial performance and growing network of hospitals make it an attractive investment opportunity for investors.

The success of the IPO will depend on various factors, including market conditions and investor sentiment. However, with its strong track record and growth prospects, Manipal Health Enterprises is well-positioned to attract investors and achieve its fundraising goals.

In conclusion, the launch of Manipal Health Enterprises' IPO on July 29 marks an important milestone for the company, as it seeks to raise funds to drive its growth and expansion plans. With its strong financial performance and growing network of hospitals, the company is an attractive investment opportunity for investors, and its success will be closely watched by the market.

The IPO is expected to have a significant impact on the Indian healthcare market, as it will enable Manipal Health Enterprises to expand its operations and improve its services. The company's growth plans are aligned with the government's initiatives to improve healthcare infrastructure and services in the country, and its success will contribute to the overall development of the healthcare sector.

Overall, the launch of Manipal Health Enterprises' IPO is a positive development for the company and the Indian healthcare market, and it is expected to attract significant interest from investors.