Manipal Health Enterprises IPO
Bookbuilding IPO | ₹9,275.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Jul 29, 2026
IPO Close
Fri, Jul 31, 2026
Price Band
₹560.00 to ₹590.00
Market Cap (Pre-IPO)
₹77,605.68 Cr
IPO Details
| IPO Date | Jul 29, 2026 to Jul 31, 2026 |
| Listing Date | Tentative: Aug 05, 2026 |
| Face Value | ₹2.00 per share |
| Price Band | ₹560.00 to ₹590.00 |
| Lot Size | 25 Shares (Minimum: ₹14,750.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹9,275.00 Crores |
| Total Shares Offered | 157,207,054 shares |
| Fresh Issue | 135,593,220 shares |
| Offer For Sale | 21,613,834 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 0.15x |
| NII | 0.08x |
| RII | 0.27x |
| Total | 0.15x |
Manipal Health Enterprises IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 11,77,14,612 |
| Retail Shares Offered | 1,56,95,282 |
| NII Shares Offered | 2,35,42,922 |
Manipal Health Enterprises IPO Lot Size
Investors can bid for a minimum of 25 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,750 |
| Retail (Max) | 13 | 325 | ₹191,750 |
| S-HNI (Min) | 14 | 350 | ₹206,500 |
| S-HNI (Max) | 67 | 1,675 | ₹988,250 |
| B-HNI (Min) | 68 | 1,700 | ₹1,003,000 |
Manipal Health Enterprises Financial Information (Restated Consolidated)
Manipal Health Enterprises Ltd.'s revenue increased by 26% and profit after tax (PAT) dropped by 15% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 24,864.50 | 14,072.08 | 10,818.83 |
| Total Income | 10,520.52 | 8,362.79 | 6,265.17 |
| Profit After Tax | 916.52 | 1,081.67 | 533.20 |
| EBITDA | 2,795.94 | 2,247.07 | 1,776.60 |
| NET Worth | 8,440.92 | 5,865.66 | 4,029.22 |
| Reserves and Surplus | 8,204.96 | 5,788.60 | 3,953.59 |
| Total Borrowing | 10,553.43 | 4,766.83 | 3,943.98 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROCE (Return on Capital Employed) | 21.88% |
| RoNW (Return on Net Worth) | 10.57% |
| PAT Margin (Profit After Tax Margin) | 8.87% |
| EBITDA Margin | 27.05% |
| Price to Book Value | 8.13 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.77 | 6.97 |
| P/E (x) | 75.93 | 84.65 |
Company Strengths
- India’s largest multispecialty hospital group by bed capacity with pan-India presence and leadership in our three key region.
- We are the only private hospital chain network in India with leadership in three metros (Bengaluru, Kolkata and Pune) with a balanced and diversified presence across metros and non-metros.
- Widely recognized brand and network of choice for patients, doctors and healthcare professionals
- Advanced infrastructure and medical equipment, with a strong focus on clinical excellence
- Track record of delivering industry leading growth with strong profitability and efficiency metric
Use of Proceeds
| 1) | 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 |
| 2) | Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited | 574.00 |
| 3) | General corporate purposes | |
| Total | 6,126.76 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Manipal Health Enterprises IPO Peer Comparison
Manipal Health Enterprises peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Manipal Health Enterprises Ltd. | 7.71 | 7.67 | 72.55 | - | 10.57 | - | Consolidated |
| Apollo Hospitals Enterprise Ltd | 135.04 | 134.94 | - | 66.15 | - | - | Consolidated |
| Fortis Healthcare Ltd | 13.80 | 13.80 | - | 70.22 | - | - | Consolidated |
| Max Healthcare Institute Ltd | 14.83 | 14.83 | - | 74.55 | - | - | Consolidated |
Quick Info
| Sector | healthcare |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹77,605.68 Cr |
Important Dates
| IPO Open | Jul 29, 2026 |
| IPO Close | Jul 31, 2026 |
| Allotment Date | Aug 03, 2026 |
| Credit to Demat | Aug 04, 2026 |
| Listing Date | Tentative: Aug 05, 2026 |
Lead Manager(s)
Kotak Mahindra Capital Co.Ltd.