Manipal Health Enterprises IPO: dates, price band, lot size and GMP
Manipal Health Enterprises IPO listed on 5 Aug at ₹652 (NSE, BSE). Issue dates 29 – 31 Jul 2026, price band ₹590, lot 25 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Manipal Health Enterprises listed on 5 Aug 2026 on NSE, BSE at ₹652, +₹62 (+10.5%) against the ₹590 upper band. Manipal Health Enterprises IPO listing date, price and gain · Recently listed IPOs
Updated 30 Oct 2026, 11:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 222 IPOs on its calendar; the Manipal Health Enterprises IPO has a price band of ₹590, a lot of 25 shares and no grey-market premium reported yet as of 30 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 29 – 31 Jul 2026 |
| Price band | ₹590 |
| Lot size | 25 shares |
| Issue size | ₹9,275.22 Cr |
| Fresh issue | ₹8,000 Cr |
| Offer for sale | ₹1,275.22 Cr |
| Subscription | 5.12x |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Kotak Mahindra Capital Co.Ltd., Axis Capital Ltd., Goldman Sachs (India) Securities Pvt.Ltd., Jefferies India Pvt.Ltd., JP Morgan India Pvt.Ltd., UBS Securities India Pvt.Ltd., DBS Bank India Ltd. |
| Status | Listed |
Timeline
- Issue opens: 29 Jul
- Issue closes: 31 Jul
- Allotment: 3 Aug
- Refunds: 4 Aug
- Demat credit: 4 Aug
- Listing: 5 Aug
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 8.54x |
| NII | 1.06x |
| sNII | 0.94x |
| bNII | 1.13x |
| Retail | 0.98x |
| Total | 5.12x |
Last updated 31 Jul 2026, 6:54 PM IST.
Issue details
| Face value | ₹2 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹77,606 Cr |
| P/E (pre-issue) | 75.93x |
| P/E (post-issue) | 84.65x |
| Fresh issue (shares) | 13,56,19,881 |
| Offer for sale (shares) | 2,16,13,834 |
| Total shares offered | 15,72,33,715 |
| Promoter holding pre-issue | 81.86% |
| Promoter holding post-issue | 72.08% |
| Promoters | Ranjan Ramdas Pai, Manipal Global Health Services, Memg International Ltd., Kangto Investments Pte.Ltd., Imperius Healthcare Investments Pte.Ltd., Kabru Investments Pte.Ltd. |
| Lead managers | Kotak Mahindra Capital Co.Ltd., Axis Capital Ltd., Goldman Sachs (India) Securities Pvt.Ltd., Jefferies India Pvt.Ltd., JP Morgan India Pvt.Ltd., UBS Securities India Pvt.Ltd., DBS Bank India Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | manipal.ipo@kfintech.com |
| Company website | manipalhospitals.com |
| Anchor bid date | 28 Jul 2026 |
| Anchor lock-in ends (50%) | 2 Sep 2026 |
| Anchor lock-in ends (remaining) | 1 Nov 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 25 | ₹14,750 |
| Retail (maximum) | 14 | 350 | ₹2,06,500 |
| sNII (minimum) | 14 | 350 | ₹2,06,500 |
| bNII (minimum) | 68 | 1,700 | ₹10,03,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 44.9% | 7,06,28,768 | |
| QIB | 29.9% | 4,70,85,846 | Not less than 75% of the Net Offer |
| NII (HNI) | 15% | 2,35,42,922 | Not more than 15% of the Net Offer |
| sNII | 5% | 78,47,640 | |
| bNII | 10% | 1,56,95,282 | |
| Retail | 10% | 1,56,95,281 | Not more than 10% of the Net Offer |
| Employee | 0.2% | 2,80,898 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 29 Jul | 0.15x | 0.08x | 0.08x | 0.08x | 0.27x | 0.15x |
| Day 2 · 30 Jul | 0.62x | 0.15x | 0.16x | 0.14x | 0.48x | 0.47x |
| Day 3 · 31 Jul | 8.54x | 1.06x | 0.94x | 1.13x | 0.98x | 5.12x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹7.77 |
|---|---|
| EPS (post-issue) | ₹6.97 |
| P/E (pre-issue) | 75.93x |
| P/E (post-issue) | 84.65x |
| RoNW | 10.57% |
| RoCE | 21.88% |
| PAT margin | 8.87% |
| EBITDA margin | 27.05% |
| Price / book | 8.13x |
| NAV per share | ₹72.55 |
| Market cap (upper band) | ₹77,606 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 24,864.5 | 14,072.08 | 10,818.83 | +76.7% |
| Total Income | 10,520.52 | 8,362.79 | 6,265.17 | +25.8% |
| Profit After Tax | 916.52 | 1,081.67 | 533.2 | −15.3% |
| EBITDA | 2,795.94 | 2,247.07 | 1,776.6 | +24.4% |
| NET Worth | 8,440.92 | 5,865.66 | 4,029.22 | +43.9% |
| Reserves and Surplus | 8,204.96 | 5,788.6 | 3,953.59 | +41.7% |
| Total Borrowing | 10,553.43 | 4,766.83 | 3,943.98 | +121.4% |
About Manipal Health Enterprises
Manipal Health Enterprises Limited is one of India's leading healthcare organizations, providing comprehensive medical services through an extensive network of hospitals, clinics, and diagnostic facilities. As a part of the Manipal Group, established by Dr. T. M. A. Pai, the company has built a strong presence in the healthcare sector through its focus on clinical excellence and patient care. The company delivers a broad spectrum of healthcare services across multiple specialties, including advanced tertiary and quaternary care. Its key service areas encompass oncology, cardiology, neurology, orthopaedics, organ transplantation, critical care, and preventive healthcare.
The hospitals are supported by modern medical infrastructure, advanced diagnostic technologies, and highly qualified healthcare professionals. Manipal Health pursues a patient-focused approach by continuously enhancing its healthcare capabilities, expanding its geographic reach, and investing in medical technology and digital healthcare solutions. The company has strengthened its market position through strategic acquisitions, partnerships, and capacity expansion initiatives. As of September 30, 2025, Manipal Health operated a network of 38 hospitals, which increased to 48 hospitals on a pro forma basis.
The company had a licensed bed capacity of 10,761 beds, rising to 12,367 beds on a pro forma basis. In addition, it operated 17 clinics across its healthcare network. Key Competitive Advantages One of India's largest multispecialty hospital networks by bed capacity, with a strong presence across key regions of the country. Unique leadership position among private hospital chains with a significant presence in major metropolitan markets, including Bengaluru, Kolkata, and Pune, complemented by a balanced footprint in non-metro locations. Well-established healthcare brand trusted by patients, physicians, and medical professionals.
State-of-the-art medical infrastructure and advanced equipment supported by a strong commitment to clinical quality and patient outcomes. Demonstrated track record of sustained growth, operational efficiency, and profitability within the healthcare sector.
Objects of the issue
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the Material Subsidiaries, Manipal Hospitals Private Limited — ₹5,552.76 Cr
- Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited — ₹574 Cr
- General corporate purposes — ₹1,628.93 Cr
- Issue Expenses — ₹283.24 Cr
Net proceeds: ₹8,038.93 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|---|
| Manipal Health Enterprises Ltd. (issuer) | 7.71 | 7.67 | 72.55 | — | 10.57% | Consolidated |
| Apollo Hospitals Enterprise Ltd | 135.04 | 134.94 | — | 66.15x | — | Consolidated |
| Fortis Healthcare Ltd | 13.8 | 13.8 | — | 70.22x | — | Consolidated |
| Max Healthcare Institute Ltd | 14.83 | 14.76 | — | 74.55x | — | Consolidated |
Notes: Basic and Diluted EPS refers to the Basic and Diluted EPS sourced from the financial statements of the companies respectively for the Fiscal ended March 31, 2026 Price/earnings ratio for the peers has been computed based on the closing market price of equity shares on NSE as on July 21, 2026 divided by the diluted earnings per share for financial year ended March 31, 2026 Net Asset Value per share is calculated as net worth at the end of the year divided by number of equity shares outstanding at the end of the year.
Offer documents: DRHP (PDF) · RHP (PDF)
Frequently asked questions
When does the Manipal Health Enterprises IPO open and close?
The issue is scheduled for 29 – 31 Jul 2026.
What is the Manipal Health Enterprises IPO price band?
The price band is ₹590 per share with a lot size of 25 shares.
How big is the Manipal Health Enterprises IPO?
The total issue size is ₹9,275.22 Cr, of which ₹8,000 Cr is a fresh issue and ₹1,275.22 Cr an offer for sale.
When will Manipal Health Enterprises list?
The tentative listing date is 5 Aug on the main board.
How do I apply for the Manipal Health Enterprises IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Manipal Health Enterprises · as filed with SEBI · nsearchives.nseindia.com
- Red herring prospectus (RHP), Manipal Health Enterprises · as filed · sebi.gov.in
- Registrar allotment page, Kfin Technologies Ltd. · allotment 3 Aug · ipostatus.kfintech.com
- NSE public issues page · listing 5 Aug · nseindia.com
- BSE public issues page · listing 5 Aug · bseindia.com
- Manipal Health Enterprises company website · manipalhospitals.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 5 Aug, 04:00 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Manipal Health Enterprises IPO”, https://buyunlistedshares.com/ipo/manipal-health-enterprises-ipo, as of 30 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 30 Oct 2026.
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