Manipal Health Enterprises Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹560 – ₹590
- Lot size
- 25 shares
- Issue amount
- ₹9,275.22 cr
- Total subscription
- 5.12×
- Opens
- 29 Jul 2026
- Closes
- 31 Jul 2026
- Allotment
- 3 Aug 2026
- Listing
- 5 Aug 2026
Offer at a glance
Issue overview
- Issue size
- 15,72,33,715 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹14,000
- Fresh issue
- ₹8,001.57 cr
- Offer for sale
- ₹1,275.22 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,750
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,17,97,57,321
- Shares after issue
- 1,31,53,50,541
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 25 | ₹14,750 |
| sHNI | 14 | 350 | ₹2,06,500 |
| bHNI | 68 | 1,700 | ₹10,03,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 31 Jul 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 6,27,811 | 3,27,616 |
| EMPLOYEES | 0 | 7,342 |
| HNIs(10L +) | 44,844 | 5,620 |
| HNIs (2-10L) | 22,422 | 17,677 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 2,778.06 | 23,727.41 |
| FIIs | 0 | 8,646.99 |
| FIs | 0 | 1,600.39 |
| Mutual Funds | 0 | 8,271.3 |
| Others | 0 | 5,208.72 |
| RETAIL | 926.02 | 898.19 |
| HNIs 2+ | 463.01 | 434.33 |
| HNIs 10+ | 926.02 | 1,043.01 |
| EMPLOYEES | 16.57 | 38.38 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 7.77 | 9.25 | 5.27 |
| ROE | 0 | 0 | 0 |
| ROCE | 21.28 | 26.98 | 27.74 |
| RONW | 10.57 | 18.16 | 14.75 |
| PRE IPO(PE) | 75.93 | 0 | 0 |
| POST IPO(PE) | 84.65 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Apollo Hospitals Enterprise Limited | 66.15 | 0 | 5.00 | 0 | 0 | 135.04 |
| Manipal Health Enterprises Limited | 75.93 | 0 | 2.00 | 72.55 | 10.57 | 7.71 |
| Max Healthcare Institute Limited | 74.55 | 0 | 10.00 | 0 | 0 | 14.83 |
| Fortis Healthcare Limited | 70.22 | 0 | 10.00 | 0 | 0 | 13.80 |
Company information
Company profile
Manipal Health Enterprises Limited is a leading healthcare service provider in India and part of the Manipal Group, founded by T. M. A. Pai, operating a wide network of multi-specialty hospitals, clinics, and diagnostic centers across the country. The company offers a broad range of medical services including tertiary and quaternary care, organ transplants, oncology, cardiology, neurology, orthopaedics, and preventive healthcare, supported by advanced technology and experienced medical professionals. It focuses on delivering quality, patient-centric care while expanding its reach through acquisitions, partnerships, and investments in infrastructure and digital health. As of September 30, 2025, the company operated 38 hospitals (48 on a
Strengths
- Advanced Healthcare Infrastructure: The company operates modern hospitals equipped with advanced medical technology, providing high-quality healthcare services across multiple specialties.
- Experienced Leadership Team: It is led by an experienced management team with strong institutional backing, supporting stable operations and long-term growth.
- Strong Presence in Key Cities: The company has a leading position in major markets such as Bengaluru, Kolkata, and Pune, supported by a well-balanced hospital network across India.
Risk factors
- Dependence on Inpatient Revenue: A large portion of the company's revenue comes from inpatient services. Lower patient admissions or occupancy levels may affect revenue and profitability.
- Healthcare & Regulatory Risk: The company operates in a highly regulated industry and may face legal, operational, or regulatory challenges that could impact business performance.
- Medical Negligence Risk: Claims related to treatment quality, medical negligence, pricing disputes, or healthcare services could lead to legal liabilities and reputational damage.
Promoters
Dr. Ranjan Ramdas Pai
Manipal Global Health Services
Memg International Ltd
Kangto Investments Pte. Ltd.
Imperius Healthcare Investments Pte. Ltd.
Kabru Investments Pte. Ltd.
Registrar & documents
Lead manager
Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, Ubs Securities India Private Limited, DBS Bank India Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
The Annexe, #98/2, Rustom Bagh, HAL Airport Road, Bengaluru, Karnataka, 560017
+9180 4936 0300
[email protected]Company website ↗Understanding MANIPALHOS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.