- Issue price
- ₹590per share
- Issue size
- ₹9,275.22 Cr15,72,33,715 shares
- Face value
- ₹2per equity share
- Lot size
- 25 sharesMin. ₹14,750 at the upper price
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 13,56,19,881 shares (₹8,000 Cr)
- Offer for sale
- 2,16,13,834 shares (₹1,275.22 Cr)
- Total issue
- 15,72,33,715 shares (₹9,275.22 Cr)
- Face value
- ₹2
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor44.9%
- QIB ex-anchor29.9%
- NII15.0%
- Retail10.0%
- Employees0.2%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 1,56,95,281 | 9.98% | 10% |
| Non-institutional investors (NII) | 2,35,42,922 | 14.97% | 15% |
| Qualified institutional buyers (QIB) | 11,77,14,614 | 74.87% | 75% |
| QIB, excluding anchor | 4,70,85,846 | 29.95% | — |
| Anchor investors | 7,06,28,768 | 44.92% | — |
| Employees | 2,80,898 | 0.18% | — |
| Market maker | — | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹590 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 25 | ₹14,750 |
Source: ProspectusUpdated
Special quotas
- Employees
- ₹56 discount per share
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- ₹7.71
- EPS (diluted)
- ₹7.67
- P/E (FY 2025-26 (at Cap Price, diluted))
- 76.92×
- RoNW
- 10.57%
- NAV per share (At Offer Price)
- ₹126.56
- NAV per share (March 31, 2026)
- ₹72.55
- Debt to equity (March 31, 2026)
- 1.20
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 10,335.75 | 8,242.25 | 6,171.63 |
| Total income | 10,520.52 | 8,362.79 | 6,265.17 |
| EBITDA | 2,721.87 | 2,261.02 | 1,596.98 |
| Profit after tax | 916.52 | 1,081.67 | 533.20 |
| Net worth | 8,798.76 | 6,000.18 | 4,087.51 |
| Reserves and surplus | 8,190.14 | 5,770.28 | 3,939.91 |
| Total assets | 24,864.50 | 14,072.08 | 10,818.83 |
| Total borrowing | 10,553.43 | 4,766.83 | 3,943.98 |
FY 2025-26 vs FY 2024-25: revenue +25.4%, profit after tax −15.3%.
Source: ProspectusUpdated
About the company
The company operates a pan-India network of multispecialty hospitals, offering services from outpatient care to complex tertiary and quaternary treatments. As of March 31, 2026 it ran 49 hospitals with 13,037 licensed beds across 14 states and union territories. Its growth has come from both organic expansion and acquisitions, including the Sahyadri Group in October 2025.
- Incorporated
- 2010
- Industry
- Healthcare Services
- CIN
- U85110KA2010PLC052540
- Website
- manipalhospitals.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| Imperius Healthcare Investments Pte. Ltd. | — | — | 1,08,08,861 |
| Manipal Education and Medical Group India Private Limited | — | — | 67,92,002 |
| TPG SG Magazine Pte. Ltd. | — | — | 23,29,667 |
| Seventy Second Investment Company LLC | — | — | 7,92,494 |
| Ammar Sdn Bhd | — | — | 4,05,791 |
| Novo Holdings Invest Asia A/S | — | — | 2,64,556 |
| Phoenix Bear Investments, LLC | — | — | 2,20,463 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of borrowings of Manipal Hospitals Private Limited, including MHPL NCDs | 5,552.76 |
| Acquisition of minority stake in Sahyadri Hospitals Private Limited | 574.00 |
| General corporate purposes | 1,628.93 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Apollo Hospitals Enterprise Ltd | ₹135.04 | 66.15× | — | — |
| Fortis Healthcare Ltd | ₹13.8 | 70.22× | — | — |
| Max Healthcare Institute Ltd | ₹14.83 | 74.55× | — | — |
| Manipal Health Enterprises LimitedIssuer | ₹7.71 | 76.92× | 10.57% | ₹72.55 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Largest pan-India multispecialty hospital network by bed capacity, with 49 hospitals and 13,037 licensed beds.
- Presence in three metros (Bengaluru, Kolkata, Pune) alongside non-metro hospitals.
- Revenue from operations grew strongly from FY2024 to FY2026, with rising profit.
- Established brand and clinical capabilities in advanced and complex procedures.
- Track record of integrating acquisitions, including the Sahyadri Group.
Risks
- About 46% of FY2026 revenue came from Karnataka, so regional disruption could hurt results.
- Revenue depends mainly on inpatient care, so falling admissions or occupancy would affect profitability.
- Around 64% of gross inpatient revenue comes from CONGO-R specialties; lower demand there would matter.
- Part of the Net Proceeds will repay NCDs held by a parent of a BRLM, creating a potential conflict-of-interest perception.
- Net debt to adjusted EBITDA is high at 3.74 times for FY2026 on a restated basis.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹590) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Manipal Health Enterprises IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 29 July 2026 and closes on Friday, 31 July 2026.
What is the Manipal Health Enterprises IPO price band?
The final issue price is ₹590 per share.
What is the lot size of the Manipal Health Enterprises IPO?
One lot is 25 shares, which is ₹14,750 at ₹590 per share.
Where will Manipal Health Enterprises shares list?
On NSE and BSE. The tentative listing date is Wednesday, 5 August 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Manipal Health Enterprises IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 3 August 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹5,552.76 Cr for repayment or prepayment of borrowings of Manipal Hospitals Private Limited, including MHPL NCDs, ₹574 Cr for acquisition of minority stake in Sahyadri Hospitals Private Limited, ₹1,628.93 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.