Manipal Health Enterprises shares list at 10.5% premium on NSE; here's how much investors made per lot

Shares of hospital chain Manipal Health Enterprises debuted at ₹652 apiece on the National Stock Exchange (NSE) on Wednesday, August 5. This reflects a premium of 10.51% over the IPO issue price of ₹590 apiece.

On the BSE, the stock started trading at ₹655 per share, up 11.02% from the issue price.

Manipal Health Enterprises share price: Here's how much investors made per lot

A lot consisted of 25 shares and cost ₹14,750. Investors who received Manipal Health Enterprises IPO allotment made ₹1,550 per lot, taking the value of their investment to ₹16,300, as per the listing price on the NSE.

The ₹9,275.22 crore initial public offering got bids for 44,30,73,025 shares versus 9,00,88,286 shares on offer, translating to 4.92 times subscription, as per the NSE data.

The initial share sale consisted of new equity shares worth ₹8,000 crore and an offer-for-sale (OFS) of ₹1,275.22 crore by existing shareholders.

Promoters – Manipal Education and Medical Group India, and Imperius Healthcare Investments – along with shareholders TPG SG Magazine Pte Ltd, Ammar Sdn Bhd, Seventy Second Investment Company LLC, Novo Holdings Invest Asia and Phoenix Bear Investments LLC, divested their stakes through the OFS route.

Of the fresh issue proceeds, ₹5,378 crore will be utilised towards debt repayment of its subsidiary, Manipal Hospitals. The company has kept ₹574 crore aside for acquiring the minority stake in the step-down subsidiary, Sahyadri Hospitals. A part will also be used for general corporate purposes.

Prior to the IPO, the company had mobilised ₹4,167 crore from anchor investors, including Morgan Stanley Asia, Natixis International Fund, Abu Dhabi Investment Authority (ADIA), Allianz Global Investors Fund, Goldman Sachs Bank Europe, Societe Generale, ICICI Prudential Mutual Fund (MF), UTI MF, Kotak MF, Aditya Birla Sun Life MF and HSBC MF.

Manipal Health Enterprises is a multispecialty hospital chain delivering a comprehensive range of care services, ranging from outpatient care to tertiary and quaternary interventions.