Manipal Health Enterprises Limited IPO
ListedMainboard
4.90×
Subscribed
Price band
₹590 – ₹590
Issue size
₹9.28k Cr
Open – close
29 Jul 2026
to 31 Jul 2026
Listing
05 Aug 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong4 of 7 dimensions read
The disclosed numbers are strong — 2 of 4 signals read positive
Strength74/100
- Meaningful leverageDebt/equity of 1.20×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Minimal related-party dealingsRelated-party transactions are only 0.4% of revenue
- Institutional book coveredQIB portion subscribed 8.25×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens29 Jul 2026
- Closes31 Jul 2026
- Listing05 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB8.25x
Non-institutionalNII / HNI1.00x
Retail individualRII0.86x
Chance of allotment
Retail0.86× subscribed
Full allotment
The retail portion is under-subscribed at 0.86×, so every valid application should receive a full allotment.
HNI / NII1.00× subscribed
~1 in 1
HNI is 1× subscribed. This category is allotted proportionately, so a bid receives roughly 1/1 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹590 – ₹590
Total issue size₹9.28k Cr
Fresh issue₹8k Cr
Listing atMainboard
Company & valuation
Debt / equity1.20×
Related-party0.41%of revenue
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
What the money is for
Stated use of the net proceeds
- 01Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of our Material Subsidiaries, namely, Manipal Hospitals Private Limited₹5.55k Cr
- 02Acquisition of minority stake in our stepdown Subsidiary, Sahyadri Hospitals Private Limited₹574 Cr
- 03General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumA substantial number of our hospitals are located in Karnataka. We derived 46.40%, 51.55%, and 59.98% of our revenue from operations in Fiscals 2026, 2025 and 2024, respectively, from our hospitals in Karnataka. Any loss of business or disruption in the operations of these hospitals or geopolitical
mediumWe primarily generate revenue by providing inpatient care at our hospitals. Any inability to maintain or improve our admissions and hospital occupancy rates could adversely affect our business, financial condition, results of operations, cash flows and prospects. We are susceptible to risks of incon
mediumWe derived 64.30%, 62.56% and 61.55% of our gross inpatient revenue from cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics, and renal sciences (CONGO-R) specialties in Fiscals 2026, 2025 and 2024, respectively. Any negative changes in the demand for these specialties could adv
Positives the filing discloses (1)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+11.1%
Listed up
6 of 8
Best
+90.0%
Shanti Inorganics
Worst
-0.7%
Mopshop Distribution
Gaja Alternative Asset Management Limitedsame segment
31.2× sub+15.6%
Juniper Green Energy Limitedsame segment
7.9× sub+8.9%
131.8× sub+90.0%
1.6× sub+0.0%
-0.7%
138.6× sub+22.1%
1.5× sub+6.9%
46.2× sub+13.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Manipal Health Enterprises Limited IPO subscribed?
Manipal Health Enterprises Limited is subscribed 4.90× overall (QIB 8.25×, NII 1.00×, retail 0.86×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.