Manipal Health IPO listing: The Manipal Health IPO is all set to make its stock market debut on Wednesday, 5 August. The shares of Manipal Hospitals will be listed on both NSE and BSE.
Established in 2010, Manipal Health Enterprises has grown into one of India's leading healthcare providers, operating an extensive network of multi-specialty hospitals, clinics, and diagnostic centres.
The company offers comprehensive tertiary and quaternary care across a range of key specialties, including oncology, cardiology, neurology, orthopaedics, organ transplantation, and preventive healthcare services.
Manipal Health IPO GMP today
Ahead of its stock market debut, Manipal Health Enterprises' shares are trading at a grey market premium of around ₹1.5. Based on the current GMP, the stock is expected to list at approximately ₹591.5 per share, marginally higher the IPO's upper price band.
Manipal Health IPO details
The public issue was available for subscription between July 29 and July 31 and was subscribed 4.92 times overall. The strong response was largely led by institutional investors, with the Qualified Institutional Buyers (QIB) segment subscribed 8.25 times.
The Non-Institutional Investors (NII) category was subscribed 1.02 times, while the Retail Individual Investors (RII) portion attracted bids for 93% of the shares reserved for retail investors.
The Manipal Health Enterprises IPO comprised a fresh issue of 13.56 crore equity shares aggregating ₹8,000 crore, along with an Offer for Sale (OFS) of 2.16 crore shares worth ₹1,275.22 crore. This took the total issue size to ₹9,275.22 crore.
The company had set the IPO price band in the range of ₹560 to ₹590 per share.
A major share of the proceeds from the fresh issue will be utilised to strengthen the company's balance sheet. Of the total, around ₹5,378 crore has been earmarked for debt repayment to lower borrowing costs, while ₹574 crore will be used to acquire a minority stake in its step-down subsidiary, Sahyadri Hospitals.
The remaining proceeds will be deployed for general corporate purposes and to support the company's future growth initiatives.
Kotak Mahindra Capital was the book-running lead manager for the IPO, while KFin Technologies was appointed as the registrar to the issue.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
