Manipal Health IPO: Check IPO Date, Live Subscription and Key Details
Incorporated in 2010, Manipal Health Enterprises Limited is one of India's largest multi-specialty healthcare providers. Headquartered locally in Bengaluru, the company operates a massive network of 38 clinical hospitals (48 on a pro forma basis) with over 10,761 licensed beds across the country. It provides advanced tertiary and quaternary care, oncology, cardiology, neurology, and organ transplants. Backed by the legacy of the Manipal Group, the enterprise employs over 24,240 personnel, including top-tier doctors, 11,048 nurses, and 6,362 paramedics, ensuring clinical excellence across both metros and non-metros.
Price Range
₹560.0 - ₹590.0
Issue Size
₹9,275.22 Cr
Lot Size
25 shares
IPO Type
Mainboard
GMP
₹25(+4.24%)
Est. Listing Price
₹615
Estimate Profit
₹625
Retail Portion
10.00%
Key Metrics
Check Live GMPGMPFace Value
₹2
EPS
6.97
P/E Ratio
84.65
RoNW
10.57%
ROE
10.57%
Debt to Equity
1.25
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Timeline
IPO Opens
29 Jul
IPO Closes
31 Jul
Allotment
3 Aug
Listing
5 Aug
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 29 July 2026 | Subscription starts |
| IPO Close Date | 31 July 2026 | Subscription ends |
| Allotment Date | 3 August 2026 | Allotment |
| Listing Date | 5 August 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,750 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,91,750 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,06,500 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,88,250 |
BHNIAbove ₹10,00,000 | 68 | ₹10,03,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 75.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 10.00% |
| Total | 100.00% |
IPO Objectives
- Repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest availed by the material subsidiary, Manipal Hospitals Private Limited (₹5,552.76 Cr).
- Acquisition of a minority stake in the stepdown subsidiary, Sahyadri Hospitals Private Limited (₹574.00 Cr).
- General corporate purposes.
Strengths
- The company commands Unmatched Scale and Capacity, standing as India’s largest multispecialty hospital group by bed capacity and maintaining a highly balanced footprint across key metros like Bengaluru, Pune, and Kolkata alongside critical non-metro penetration.
- It delivers Exceptional Revenue Compounding, with total consolidated income scaling up robustly by 26%, climbing from ₹8,362.79 Crores in FY25 to a massive ₹10,520.52 Crores in FY26.
- The business leverages Dominant Clinical Infrastructure, employing a formidable medical workforce of over 24,000 full-time professionals equipped with advanced tertiary and quaternary care technology.
- The offering serves as a Massive De-leveraging Catalyst, where out of the ₹8,000 Crore fresh issue, a monumental ₹5,552.76 Crores is dedicated entirely to wiping out subsidiary debt, which will immediately drastically reduce finance costs to boost future bottom-line margins.
Weaknesses
- The issue features a Highly Restrictive Retail Quota, capping the retail allocation at a mere 10% due to structural design, meaning retail individual allotment odds will be extremely tight in the face of high subscription demand.
- The firm experiences Near-Term Profit Contraction, as despite top-line revenue growth, restated profit after tax (PAT) dropped by 15% from ₹1,081.67 Cr in FY25 to ₹916.52 Cr in FY26, likely due to heavy acquisition integrations and rising finance costs.
- It carries Aggressive Asset Leverage, managing total outstanding borrowings of ₹10,553.43 Crores against an ₹8,440.92 Crore net worth, which limits immediate operational flexibility until the IPO proceeds successfully clear the debt.
- The offering encounters Moderate Unlisted Traction, with the grey market premium (GMP) currently tracking at ₹55, representing a conservative listing expectation of ~9.32%.
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Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 24,864.5 | 14,072.08 | 10,818.83 |
| Revenue (₹ Cr.) | 10,520.52 | 8,362.79 | 6,265.17 |
| PAT (₹ Cr.) | 916.52 | 1,081.67 | 533.2 |
| Net Worth (₹ Cr.) | 8,440.92 | 5,865.66 | 4,029.22 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Manipal Health Enterprises Ltd. | 8.13 | 84.65 | 18.16% | 8,440.92 |
| Max Healthcare Institute Limited | 9.82 | 73.12 | 13.42% | 110.41 |
| Fortis Healthcare Limited | 7.2 | 66.94 | 10.53% | 131.07 |
Subscription Details
No daily bids available.
No subscription statistics available.
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Company Details
- Manipal Health Enterprises Ltd.
- The Annexe, #98/2, Rustom Bagh, HAL Airport Road, Bengaluru, Karnataka, 560017
- 80 4936 0300
- legalcs@manipalhospitals.com
- https://www.manipalhospitals.com/
Registrar Details
- Kfin Technologies Ltd.
- 040-79615565
- manipal.ipo@kfintech.com
- https://ipostatus.kfintech.com/
Frequently Asked Questions
What does Manipal Health Enterprises do?
Manipal Health Enterprises operates a network of multi-specialty hospitals, diagnostic centers, and clinics across India. The company provides healthcare services in areas such as cardiology, oncology, neurology, organ transplants, and critical care.
What are the IPO dates for Manipal Health Enterprises IPO?
The Manipal Health Enterprises IPO will open for subscription on July 29, 2026, and close on July 31, 2026.
What is the price band and minimum investment for Manipal Health Enterprises IPO?
The Manipal Health Enterprises IPO price band is fixed at ₹560 to ₹590 per share. Retail investors need to apply for a minimum of 1 lot (25 shares), requiring an investment of ₹14,750 at the upper price band.
What is the issue size of Manipal Health Enterprises IPO?
The Manipal Health Enterprises IPO is worth ₹9,275.22 crore. It consists of a fresh issue of ₹8,000 crore and an Offer for Sale (OFS) of ₹1,275.22 crore.
What is the Manipal Health Enterprises IPO GMP today?
As of July 24, 2026, the Manipal Health Enterprises IPO Grey Market Premium (GMP) is around ₹55 per share, indicating an estimated listing price of about ₹645 and a potential listing gain of around 9.32%.
What is the Manipal Health Enterprises IPO listing date?
Manipal Health Enterprises IPO is expected to list on BSE and NSE after the allotment process, as per the IPO schedule.
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