MUMBAI: Temasek-backed backed Manipal Health Enterprises Limited based in Bengaluru has announced the IPO price band which has been fixed in the range of ₹560 to ₹590 per equity share of the face value of ₹2. The Manipal Health Enterprises IPO date of subscription is scheduled for Wednesday, 29 July and will close on Friday, 31 July. The allocation to anchor investors for the Manipal Health Enterprises IPO is scheduled to take place on Tuesday, 28 July.The Manipal Health Enterprises IPO lot size is 25 equity shares and in multiples of 25 equity shares thereafter.
Manipal Health Enterprises IPO has reserved not more than 75% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 10% of the offer is reserved for retail investors.
The management team present during the IPO announcement told our newsman sachin murdeshwar that, The company plans to utilise ₹5,378 crore from the net proceeds of the fresh issue to repay borrowings, ₹574 crore for the acquisition of a minority stake in its step-down subsidiary, Sahyadri Hospitals, while the remaining funds will be used for general corporate purposes.
Tentatively, Manipal Health Enterprises IPO basis of allotment of shares will be finalised on Monday, 3 August and the company will initiate refunds on Tuesday, 4 August, while the shares will be credited to the demat account of allottees on the same day following refund. Manipal Health Enterprises share price is likely to be listed on BSE and NSE on Wednesday, 5 August.
Mr. Dilip Jose, MD & CEO, Manipal Health Enterprises Limited at the launch of the Company’s IPO in Mumbai Speaking to media said “Our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including the enhancement of our brand image among our existing and potential customers and creation of a public market for the equity shares in India,”
The firm has set aside shares valued at ₹15 crore for its staff, who will receive these shares at a discount of ₹56 per share from the final offering price.The Manipal Hospitals IPO comprises a fresh issue of equity shares worth ₹8,000 crore and an offer for sale (OFS) of 2.16 crore equity shares aggregating ₹1,275.2 crore, taking the total issue size to ₹9,275 crore.
The Temasek- and Dr Ranjan Pai-backed healthcare major’s OFS includes share sales by promoters Imperius Healthcare Investments and Manipal Education and Medical Group India, along with existing investors TPG SG Magazine, Seventy Second Investment Company, Ammar Sdn Bhd, Novo Holdings Invest Asia, and Phoenix Bear Investments.
Notably, the OFS has been halved from the 4.32 crore equity shares proposed in the draft red herring prospectus (DRHP) filed in March 2026. The Securities and Exchange Board of India (SEBI) approved the company’s IPO proposal earlier this month.
The Manipal Hospitals IPO is being managed by Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India, and DBS Bank India, which are acting as the book-running lead managers to the issue.
The company served 7.63 million patients across its network (including its O&M hospitals) in Fiscal 2026. Further, it had 11,064 doctors available to provide their services in its hospitals as of March 31, 2026.
The company offers clinical services across several specialties, with a focus on tertiary and quaternary care, particularly in cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics, and renal sciences (CONGO-R). These specialties involve high-acuity cases or cases that are severe, complex and require advanced interventions and high levels of care.Its revenue from operations was Rs 10,335.8 crore during FY26 as compared to Rs 6,171.6 crore during FY24.Its net profit was Rs 916.5 crore during FY26 as compared to Rs 533.2 crore during FY24.