Manipal Health Enterprises, which operates the Manipal Hospitals network, has announced that its Initial Public Offering (IPO) will open for subscription on July 29, 2026. The company has fixed the price band at ₹560–590 per share, with the public issue scheduled to close on July 31, 2026.
The IPO comprises a fresh issue of ₹8,000 crore and an offer for sale (OFS) of 2.16 crore equity shares worth ₹1,275.2 crore, taking the total issue size to ₹9,275 crore.
Here are the key details of the public issue:
IPO Opens: July 29, 2026
IPO Closes: July 31, 2026
Anchor Book: July 28, 2026
Price Band: ₹560–590 per share
Issue Size: ₹9,275 crore
Fresh Issue: ₹8,000 crore
Offer for Sale: 2.16 crore equity shares worth ₹1,275.2 crore
Lot Size: 25 equity shares and multiples thereof
Allotment Date: August 3, 2026 (expected)
Listing Date: August 5, 2026 (expected)
At the upper end of the price band, the company's implied market capitalisation is around ₹77,607 crore.
The company plans to utilise the proceeds from the fresh issue for:
₹5,378 crore towards repayment or prepayment of borrowings.
₹574 crore for acquiring the minority stake in its step-down subsidiary, Sahyadri Hospitals.
The remaining amount is for general corporate purposes.
The proceeds from the offer for sale will go to the selling shareholders.
Manipal Health Enterprises operates one of India's largest multispecialty hospital networks. According to the company, it has 49 hospitals with more than 12,600 beds across 24+ cities.
The company states that it is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by the number of hospitals in the country.
The company has reserved ₹15 crore worth of shares for eligible employees, who will receive a discount of ₹56 per share on the final issue price.
The offer for sale includes shares from promoter entities Imperius Healthcare Investments and Manipal Education and Medical Group India, along with investor shareholders including TPG SG Magazine, Seventy Second Investment Company, Ammar Sdn Bhd, Novo Holdings Invest Asia, and Phoenix Bear Investments.
Compared with the draft offer document filed earlier, the OFS size has been reduced from 4.32 crore shares to 2.16 crore shares.
The Manipal Health Enterprises IPO will open for subscription from July 29 to July 31, 2026, with a price band of ₹560–590 per share. The company intends to use the fresh issue to proceed primarily to reduce debt and acquire a minority stake in Sahyadri Hospitals, while eligible employees will receive shares at a discounted price.
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Published on: Jul 24, 2026, 10:48 AM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
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