Manipal Health Enterprises fixed the price band at Rs 560 and Rs 590 per equity share for its initial public offer (IPO).
The offer will open for bidding on July 29 and close on July 31. Investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter.
The company will be raising a total of Rs 9275.22 crore at the upper price band. The IPO consists of two components: fresh issue of up to Rs 8,000 crore, and an offer-for-sale of up to 2.16 crore equity shares by promoters.
The company’s promoters are Imperius Healthcare Investments and Manipal Education and Medical Group India.
Other than promoters, investors selling shares include TPG SG Magazine, Seventy Second Investment Company, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S, and Phoenix Bear Investments.
Objectives of the issue
The proceeds from its fresh issuance worth Rs 5,552.8 crore will be utilised for repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the company’s material subsidiaries, Manipal Hospitals Private Limited, Rs 574 crore for acquisition of minority stake in the company’s step-down subsidiary, Sahyadri Hospitals Private Limited, and general corporate purposes.
Book runners and registrar
Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, J.P. Morgan India, UBS Securities India, and DBS Bank India are the book-running lead managers for the issue, and KFin Technologies is working as the registrar of the IPO.
About Manipal Health Enterprises
The company operates a pan-India network of multispecialty hospitals delivering a comprehensive range of care services, from outpatient services to complex tertiary and quaternary interventions. As of March 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories.
The company has the widest footprint in terms of presence of hospitals among private hospital chains in India as of March 31, 2026. It is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by number of hospitals as of March 2026.