Manipal Health Enterprises IPO Opens July 29: Price Band, GMP, Financials, Dates, Review & Key Details

27 Jul 2026 , 11:46 AM

Manipal Health Enterprises IPO is set to hit the primary market on July 29, 2026, with the healthcare major aiming to raise ₹9,275.22 crore through a combination of a fresh issue and an offer for sale (OFS). The IPO will remain open for subscription until July 31, 2026, and is scheduled to list on the NSE and BSE on August 5, 2026.

With a Grey Market Premium (GMP) of ₹25, the IPO is currently commanding a modest premium in the unofficial market, indicating cautious optimism among investors.

Manipal Health Enterprises IPO Details

• IPO Opening Date: July 29, 2026
• IPO Closing Date: July 31, 2026
• Price Band: ₹560 to ₹590 per share
• Face Value: ₹2 per share
• Issue Type: Book Building IPO
• Issue Size: ₹9,275.22 crore
• Fresh Issue: ₹8,000 crore (13.56 crore shares)
• Offer for Sale (OFS): ₹1,275.22 crore (2.16 crore shares)
• Lot Size: 25 shares
• Minimum Investment (Retail): ₹14,750
• Listing Exchange: NSE & BSE
• Tentative Listing Date: August 5, 2026
• Book Running Lead Manager: Kotak Mahindra Capital Co. Ltd.
• Registrar: KFin Technologies Ltd.

Manipal Health Enterprises IPO GMP Today

According to the latest grey market trends:

• IPO Price: ₹590
• Latest GMP: ₹25
• Estimated Listing Price: ₹615
• Expected Listing Gain: 4.24%

The GMP has remained steady at ₹25 over the past two days, suggesting stable but measured investor sentiment ahead of the IPO opening. It is important to note that the Grey Market Premium is an unofficial indicator and does not guarantee listing performance.

Important IPO Dates

Event	Date
IPO Opens	July 29, 2026
IPO Closes	July 31, 2026
Basis of Allotment	August 3, 2026
Refunds	August 4, 2026
Credit of Shares	August 4, 2026
Listing Date	August 5, 2026

About Manipal Health Enterprises

Established in 2010, Manipal Health Enterprises Limited is one of India’s leading healthcare service providers and forms part of the renowned Manipal Group, founded by Dr. T. M. A. Pai.

The company operates an extensive network of:

• 49 multi-specialty hospitals
• 13,037 licensed beds
• 21 clinics across India (as of March 31, 2026)

Manipal Health offers a comprehensive range of medical services, including:

• Oncology
• Cardiology
• Neurology
• Orthopaedics
• Organ Transplants
• Preventive Healthcare
• Tertiary and Quaternary Care

The company employs over 24,240 full-time professionals, including more than 11,000 nurses, 6,300 paramedics, and 6,800 administrative staff, making it one of India’s largest private healthcare employers.

Competitive Strengths

Manipal Health enjoys several competitive advantages:

• India’s largest multi-specialty hospital chain by bed capacity.
• Leadership position in Bengaluru, Kolkata, and Pune.
• Strong presence across both metro and non-metro cities.
• Highly recognized healthcare brand trusted by patients and medical professionals.
• Advanced medical infrastructure with continuous investment in technology.
• Proven track record of strong operational growth and profitability.

Financial Performance

The company has delivered strong revenue growth while maintaining healthy operating margins.

Particulars	FY26	FY25	FY24
Total Income	₹10,520.52 Cr	₹8,362.79 Cr	₹6,265.17 Cr
Profit After Tax	₹916.52 Cr	₹1,081.67 Cr	₹533.20 Cr
EBITDA	₹2,795.94 Cr	₹2,247.07 Cr	₹1,776.60 Cr
Total Assets	₹24,864.50 Cr	₹14,072.08 Cr	₹10,818.83 Cr

While revenue increased by nearly 26% year-on-year, profit after tax declined approximately 15%, primarily due to higher expenses and expansion-related investments.

Key Financial Ratios

• ROCE: 21.88%
• Return on Net Worth (RoNW): 10.57%
• PAT Margin: 8.87%
• EBITDA Margin: 27.05%
• Price-to-Book Ratio: 8.13x
• Post-IPO EPS: ₹6.97
• Post-IPO P/E: 84.65x

The valuation appears premium compared to many listed healthcare peers, reflecting the company’s market leadership and growth potential.

Objects of the Issue

The company intends to utilize the IPO proceeds for the following purposes:

• ₹5,552.76 crore towards repayment or prepayment of borrowings of Manipal Hospitals Private Limited.
• ₹574 crore for acquiring the minority stake in Sahyadri Hospitals Private Limited.
• Remaining proceeds for general corporate purposes.

Reducing debt is expected to strengthen the company’s balance sheet while improving future profitability.

Disclaimer: The stock, IPO, and market information mentioned in this article are provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult a qualified financial advisor before making investment decisions. Investments in the securities market are subject to market risks. Please read all related offer documents carefully before investing.