Manipal Health Enterprises

Manipal Health IPO

Listed

MainboardOpens 29 July 2026Closes 31 July 2026

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…

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Live GMPSubscriptionAllotment
Price band
₹560 - ₹590
Issue size
₹9,275.22 Cr
Lot size
25 shares
Type
Mainboard
GMP
₹3 (+0.5%)
Est. listing
₹593
Est. profit / app
₹75
Retail quota
10.00%

Key ratios

As per RHP / filings
Face value
₹2
EPS
6.97
P/E ratio
84.65
RoNW
10.57%
ROE
10.57%
Debt / 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

EventDate
IPO Open Date29 July 2026
IPO Close Date31 July 2026
Allotment Date3 August 2026
Listing Date5 August 2026

Investment Categories

CategoryLotsAmount
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

CategoryReservation
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%
Retail10.00%
Total100.00%

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 Ended31 Mar 202631 Mar 202531 Mar 2024
Assets (₹ Cr.)24,864.514,072.0810,818.83
Revenue (₹ Cr.)10,520.528,362.796,265.17
PAT (₹ Cr.)916.521,081.67533.2
Net Worth (₹ Cr.)8,440.925,865.664,029.22

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Manipal Health Enterprises Ltd.8.1384.6518.16%8,440.92
Max Healthcare Institute Limited9.8273.1213.42%110.41
Fortis Healthcare Limited7.266.9410.53%131.07

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
QIB0.15x0.62x8.54x
NII0.08x0.15x1.06x
S-HNI0.08x0.16x0.94x
B-HNI0.08x0.14x1.13x
RII0.27x0.48x0.98x
EMP0.95x1.54x2.32x
Total0.15x0.47x5.12x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB4,70,85,84440,21,59,42523,727.41
NII2,35,42,9222,50,39,6751,477.34
Small NII78,47,64173,61,575434.33
Big NII1,56,95,2821,76,78,1001,043.01
RII1,56,95,2821,53,26,300904.25
EMP2,80,8996,50,45038.38
Total8,66,04,94744,31,75,85026,147.38
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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

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.

Manipal Health IPO News & Updates

Follow the latest updates for Manipal Health IPO, including grey market moves and allotment news.

Manipal Health IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

Manipal Health IPO Details

Issue size, price, financials, and company info

Manipal Health IPO GMP

Live grey market premium and listing estimate

Manipal Health IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Manipal Health IPO Allotment

Allotment date, chances, and check by PAN

Manipal Health IPO Review

SWOT, strengths, risks, and IPO review

Manipal Health IPO FAQ

Common questions on dates, GMP, and allotment

Manipal Health IPO Registrar

Registrar website and how to check allotment

Manipal Health IPO Timeline

Open, close, allotment, and listing dates

Manipal Health IPO News

Updates, blogs, and latest IPO news

Sources

We match Manipal Health IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Kfin Technologies Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, and How allotment chances work.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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