- Manipal Health Enterprises has set a price band of ₹560 to ₹590 per share for its upcoming IPO, which is scheduled to open on July 29, 2026.
- The IPO will have a lot size of 25 shares, requiring a minimum retail investment of ₹14,750 at the upper price band.
- The total issue size is up to ₹9,273.64 crore, which includes a fresh issue of up to ₹7,998.43 crore and an Offer for Sale (OFS) of up to ₹1,275.22 crore.
- The IPO is a Book Built Issue with lead managers including Kotak Mahindra Capital, Axis Capital, Goldman Sachs, Jefferies, J.P. Morgan, UBS Securities, and DBS Bank India, while KFin Technologies serves as the registrar.
- The company focuses on tertiary and quaternary care, with CONGO-R specialties contributing 64.3% of gross inpatient revenue in FY26. Revenue from operations was ₹10,335.75 crore in FY26, with a profit after tax of ₹916.52 crore.
- The company expects listing benefits including enhancement of brand image and creation of a public market for its equity shares in India, as stated in the RHP.
Manipal Health Enterprises is set to launch its Initial Public Offering (IPO) with a price band of ₹560 to ₹590 per share, aiming to raise up to ₹9,273.64 crore. The IPO will be open for subscription from July 29 to July 31, 2026, with anchor investor bidding on July 28.14
The IPO consists of a fresh issue of up to ₹7,998.43 crore and an Offer for Sale (OFS) of up to ₹1,275.22 crore by existing shareholders. The minimum investment for retail investors is ₹14,750 for 25 shares at the upper price band.23
The basis of allotment is expected to be finalized on August 3, 2026, with shares tentatively listed on the NSE and BSE on August 5, 2026. The IPO is managed by a consortium of book-running lead managers including Kotak Mahindra Capital Company, Axis Capital, and Goldman Sachs.
Manipal Health operates one of India's largest multispecialty hospital networks, with 49 hospitals and 13,037 licensed beds across 14 states. In Fiscal 2026, it served 7.63 million patients and reported a revenue of ₹10,335.75 crore with a profit after tax of ₹916.52 crore. The funds raised will be used for repayment of borrowings, acquisition of a minority stake in Sahyadri Hospitals, and general corporate purposes.7
The company aims to enhance its brand image and create a public market for its equity shares in India, as stated in the Red Herring Prospectus.
“The ₹9,273.64 crore IPO includes a fresh issue of ₹7,998.43 crore and an OFS of ₹1,275.22 crore from existing shareholders. In FY26, the hospital chain posted revenue of ₹10,335.75 crore and a profit after tax of ₹916.52 crore, with its CONGO-R specialties driving 64.3% of inpatient revenue.”
