The Manipal Health IPO wrapped up its final day of bidding with a healthy investor response. The issue was oversubscribed 4.92 times. While the offer picked up pace on its final day of bidding, led by the Qualified Institutional Buyer (QIB) segment, the retail applicant portion remains undersubscribed.
The issue worth Rs 9,275 crore has seen a significant downtrend in its grey market premium (GMP) over the past few sessions, and the company is expected to list on NSE and BSE on Monday, August 5.
Manipal Health IPO: Retail portion undersubscribed
Although the Manipal Health IPO has been oversubscribed 4.92 times, receiving bids for 44.30 shares against its ask of 9 crore, the retail individual investors segment remains undersubscribed at 0.93 times, receiving bids for 1.52 crore shares against the 1.64 crore shares reserved.
Manipal Health IPO: QIB segment sees strong response
Strong participation was seen in the QIB segment, which is oversubscribed 8.25 times, receiving 40.21 crore bids against its ask of 4.87 crore. The Non-institutional investor (NII) category was oversubscribed 1.02 times, achieving 2.50 crore share bids against its ask of 2.46 crore shares.
The employees quota too witnessed strong participation, being oversubscribed 2.19 times, receiving 6.50 lakh bids against its ask of 2.97 lakh.
The share price band for the IPO was fixed at Rs 560-590, and the hospital chain operator reserved 2.80 lakh crore shares for its eligible employees, who will receive a discount of Rs 56 per share to the final offer price.
Manipal Health IPO: Day 3 Subscription Snapshot
Overall, the Manipal Health IPO was subscribed 4.92 times, garnering healthy investor interest.
| Investor Category | Subscription (Day 3) |
| Qualified Institutional Buyers (QIBs) | 8.25x |
| Non-Institutional Investors (NIIs) | 1.02x |
| Retail Individual Investors (RIIs) | 0.93x |
| Employee | 2.19x |
| Overall | 4.92x |
Manipal Health IPO: GMP flat
As per the latest update, the shares of the Manipal Health IPO are trading flat in the unlisted markets, reflecting no premium on the upper end of the share price band. This indicates that the shares will list at a price of Rs 590.
However, it is important to note that GMP is an unofficial metric to determine the listing price and fluctuates based on market mood and sentiment.
Manipal Health IPO: Subscription timeline
The issue opened for public subscription on July 29, and closed on July 31. The share allotment process is expected to be completed by August 3, while beneficiaries shall receive the shares and requisite refunds by August 4.
The company is likely to list on the bourses by August 5.