Manipal Hospitals IPO sets price band at ₹560 to ₹590 per share; check lot size and key dates

Manipal Hospitals operator Manipal Health Enterprises has fixed a price band of ₹560 to ₹590 per share for its ₹9,275.21 crore initial public offering. The issue will be open from July 29 to July 31.

The initial share sale is a fresh issuance of shares aggregating up to ₹8,000 crore and an offer for sale (OFS) component of ₹1,275.21 crore.

Under the OFS, promoters Imperius Healthcare Investments and Manipal Education and Medical Group India, and investors TPG SG Magazine, Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S and Phoenix Bear Investments, LLC will offload their stake.

The fresh issue proceeds will be used for the following purposes:

• Repayment of certain borrowings and accrued interest thereon availed by its material subsidiary, Mahipal Hospitals Pvt Ltd.
• Acquisition of minority stake in stepdown subsidiary Sahyadri Hospitals Pvt Ltd.
• General corporate purposes.

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including the enhancement of our brand image among our existing and potential customers and creation of a public market for the equity shares in India," according to the RHP.

Manipal Health Enterprises IPO: Lot size

An application consists of 25 shares and multiples thereof. The company has reserved 75% of the offer for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.

Manipal Health Enterprises IPO: Allotment and listing date

Manipal Health Enterprises operates a pan-India network of multispecialty hospitals, offering a comprehensive range of healthcare services. As of March 2026, it operated 49 hospitals with 13,037 licensed beds across 14 states and union territories. It is the largest pan-India multispecialty hospital network based on bed capacity and the second largest hospital chain by number of hospitals as of March 31, 2026.

Kotak Mahindra Capital Company, Axis Capital, JPMorgan India, Goldman Sachs (India) Securities, Jefferies India, DBS Bank and UBS Securities India are the IPO's book-running lead managers, while KFin Technologies serves as the registrar.