MH
Manipal Health Enterprises Limited IPO
Healthcare Services · Multi-Specialty Hospitals · Tertiary Care · Manipal Group
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹590
Upper Price
₹9,275.22 Cr
Issue Size
Aug 5, 2026
Listing Date
₹77,605.68 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Wednesday, 29 July 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 31 July 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 3 August 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 4 August 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 5 August 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date29 July 2026 (Wed)
IPO Close Date31 July 2026 (Fri)
Listing Date5 August 2026 (Wed)
Face Value₹2 per share
Price Band₹560 to ₹590
Issue Price (Upper Band)₹590 per share
Issue TypeBook Build — Fresh + OFS
Lot Size25 shares
Total Issue Size15,72,07,054 shares (₹9,275.22 Cr)
Fresh Issue13,55,93,220 shares (₹8,000.00 Cr)
Offer for Sale (OFS)2,16,13,834 shares (₹1,275.22 Cr)
Pre-Issue Shares1,17,97,57,321
Post-Issue Shares1,31,53,50,541
Promoter Holding (Pre)81.43%
Market Cap (Pre-IPO)₹77,605.68 Cr
Listing ExchangeNSE, BSE
Lead ManagerKotak, Axis, Goldman Sachs, Jefferies, JP Morgan, UBS, DBS
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹590| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 25 | ₹14,750 |
| Retail — Maximum | 13 | 325 | ₹1,91,750 |
| S-HNI (sNII) — Min | 14 | 350 | ₹2,06,500 |
| S-HNI (sNII) — Max | 67 | 1,675 | ₹9,88,250 |
| B-HNI (bNII) — Min | 68 | 1,700 | ₹10,03,000 |
⚠️ Note: Investors can bid for a minimum of 25 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000. Employee discount of ₹56.00 per share is applicable.
👥 Investor Reservation
Allocated portion of Net OfferNot less than 75%
QIB Portion
Not more than 10%
Retail Portion
Not more than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 24,864.50 | 14,072.08 | 10,818.83 |
| Total Income | 10,520.52 | 8,362.79 | 6,265.17 |
| PAT | 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 |
| Total Borrowing | 10,553.43 | 4,766.83 | 3,943.98 |
Income Growth
FY 2023–24₹6,265.17 Cr
FY 2024–25₹8,362.79 Cr
FY 2025–26₹10,520.52 Cr
🎯 Key Performance Indicators
21.88%
ROCE
FY 2025–26
49
Hospitals
Pan-India
10.57%
RoNW
FY 2025–26
8.87%
PAT Margin
FY 2025–26
27.05%
EBITDA Margin
FY 2025–26
8.13x
Price/Book
FY 2025–26
13,037
Licensed Beds
Bed Capacity
24,240
Total Workforce
Employees
⚖️ Valuation & EPS
Pre-IPO EPS
₹7.77
FY26 earnings + pre-issue shares
P/E: 75.93xPost-IPO EPS
₹6.97
FY26 earnings + post-issue shares
P/E: 84.65xPrice to Book Value
8.13x
At upper price band ₹590
Market Cap (Pre-IPO)
₹77,605.68 Cr
At issue price ₹590
ℹ️
Pre-IPO EPS (₹7.77) based on pre-issue shares (1,17,97,57,321) and FY26 earnings. Post-IPO EPS (₹6.97) includes the dilution metrics derived from post-issue total equity capital of 1,31,53,50,541 shares following the 13,55,93,220 fresh equity issuance block.
🎯 Objects of the Issue
Net proceeds utilisation1
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
2
Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited
₹574.00 Cr
3
General corporate purposes
Balance
Total Fresh Issue Goal
₹8,000.00 Cr
🏢 About Manipal Health Enterprises Ltd.
Est. 2010 · Bengaluru, Karnataka · Healthcare ServicesManipal Health Enterprises Limited, incorporated in 2010 and rooted in the renowned Manipal Group legacy established by T. M. A. Pai, operates as one of India’s largest and most trusted multi-specialty healthcare networks. It holds the distinction of being India’s largest hospital group by bed capacity, serving patients with world-class tertiary and quaternary care, cutting-edge organ transplant setups, and dedicated oncology, cardiology, and neurology institutions.
The organization boasts a commanding pan-India footprint, running 49 highly advanced hospitals equipped with 13,037 licensed beds and 21 outpatient clinics as of March 31, 2026. Dominating three major metro hubs—Bengaluru, Kolkata, and Pune—the group relies on a comprehensive workforce of 24,240 full-time employees, which includes over 11,000 nurses and 6,362 paramedics working alongside leading medical professionals to redefine clinical excellence across metros and non-metros alike.
Brand Ecosystem
🏥
Multi-Specialty Hospitals
49 leading institutions providing tertiary and quaternary medical care
🛏️
Bed Capacity
13,037 licensed beds across India creating the nation’s largest hospital network
👨⚕️
Healthcare Clinics
21 specialized outpatient clinics offering localized diagnostic and preventive care
👥
Clinical Workforce
24,240 dedicated staff including 11,048 highly trained nurses and 6,362 paramedics
Competitive Strengths
🏆India’s largest multispecialty hospital group by bed capacity with massive pan-India footprint
🏙️Only private chain commanding structural leadership across Bengaluru, Kolkata, and Pune metros
⭐Widely recognized brand and top network of choice for leading healthcare professionals
📈Track record of delivering industry-leading growth anchored by solid profitability metrics
Company Promoters
RP
Ranjan Ramdas Pai
Promoter, Manipal Health Enterprises Ltd.
MG
Manipal Global Health Services
Promoter, Manipal Health Enterprises Ltd.
MI
Memg International Ltd.
Promoter, Manipal Health Enterprises Ltd.
📅 Key Dates
IPO Opens29 Jul 2026
IPO Closes31 Jul 2026
Allotment03 Aug 2026
Refund & Share Credit04 Aug 2026
Listing Day05 Aug 2026
💡 Quick Summary
Price Band₹560 – ₹590
Upper Price₹590 / share
Lot Size25 shares
Min. Investment (Retail)₹14,750
Issue Size₹9,275.22 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
Kotak, Axis, Goldman Sachs, Jefferies, JP Morgan, UBS, DBS
📍 Registered Address
Manipal Health Enterprises Ltd.
The Annexe, #98/2, Rustom Bagh,
HAL Airport Road,
Bengaluru, Karnataka — 560017
📞 +91 80 4936 0300
[email protected]
The Annexe, #98/2, Rustom Bagh,
HAL Airport Road,
Bengaluru, Karnataka — 560017
📞 +91 80 4936 0300
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the Manipal Health Enterprises IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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