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Manipal Health Enterprises IPO
Price Band
₹560.0–590.0
Issue Size
₹9275.22 Cr
Lot Size
25 shares
Min Investment
₹14,750
GMP
+₹3.0 (0.51%)
Issue Price
₹590.0
Subject to Sauda
₹100
Paid only if allotted
Manipal Health Enterprises IPO AI Summary
- Manipal Health Enterprises IPO is listed on BSE, NSE in the Hospital sector.
- Price band: ₹560.0–₹590.0 per share, lot size 25 shares (min. investment ₹14,750).
- Subscription window: 29 Jul–31 Jul 2026, listing on 05 Aug 2026.
- Current GMP is +₹3.0 (0.51%), an estimated listing price of ₹593 — unofficial and can change daily.
Manipal Health Enterprises Limited is a leading healthcare provider in India with a strong network of hospitals and clinics. The company is looking to raise funds through its IPO to strengthen its financial position and expand its operations.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Manipal Health Enterprises IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 31 Jul 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
5.12x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
8.54x
|
8.54x |
| NII (HNI) |
1.06x
|
1.06x |
| ↳ bNII (>₹10L) |
1.13x
|
1.13x |
| ↳ sNII (<₹10L) |
0.94x
|
0.94x |
| Retail (RII) |
0.98x
|
0.98x |
| Employee |
2.32x
|
2.32x |
| Total | 5.12x | 5.12x |
Auto-updated every 5 min · As of 31st Jul 2026 18:55
Manipal Health Enterprises IPO Grey Market Premium (GMP) Today
GMP
+₹3.0
GMP %
+0.51%
Est. Listing
₹593.0
Updated: 05 Aug 2026 09:30
GMP Trend (Last 12 Days)
About the Company
Manipal Health Enterprises Limited is a healthcare service providers, operating a large network of multi-specialty hospitals, clinics, and diagnostic centres across the country. It is part of the Manipal Group, founded by T. M. A. Pai. The company offers a wide range of healthcare services including tertiary and quaternary care, organ transplants, oncology, cardiology, neurology, orthopaedics, and preventive healthcare. Its hospitals are equipped with advanced medical technology and are staffed by experienced medical professionals. Manipal Health focuses on delivering quality, patient-centric care and expanding access to healthcare through strategic acquisitions, partnerships, and continuous investment in medical infrastructure and digital health initiatives. As of September 30, 2025, the company operated 38 hospitals (48 hospitals on a pro forma basis) with 10,761 licensed beds (12,367 licensed beds on a pro forma basis). They are operating 17 clinics as of September 30, 2025. Competitive Strengths: India’s largest multispecialty hospital group by bed capacity with pan-India presence and leadership in our three key region. We are the only private hospital chain network in India with leadership in three metros (Bengaluru, Kolkata and Pune) with a balanced and diversified presence across metros and non-metros. Widely recognized brand and network of choice for patients, doctors and healthcare professionals Advanced infrastructure and medical equipment, with a strong focus on clinical excellence Track record of delivering industry leading growth with strong profitability and efficiency metric
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 24,864.50 | 14,072.08 | 10,818.83 |
| Total Income | 10,520.52 | 8,362.79 | 6,265.17 |
| Profit After Tax | 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 |
| Reserves and Surplus | 8,204.96 | 5,788.60 | 3,953.59 |
| Total Borrowing | 10,553.43 | 4,766.83 | 3,943.98 |
Key Ratios
EPS
₹7.77
NAV
₹72.55
ROCE
21.88%
RoNW
10.57%
P/B Value
8.13
P/E Ratio
75.93
Market Cap
₹77605.68 Cr
PAT Margin
8.87%
Peer Comparison
| Company | P/E (x) | EPS Basic | EPS Diluted | NAV | RoNW |
|---|---|---|---|---|---|
| Max Healthcare Institute Ltd | 74.55 | 14.83 | 14.76 | — | — |
| Fortis Healthcare Ltd | 70.22 | 13.8 | 13.8 | — | — |
| Apollo Hospitals Enterprise Ltd | 66.15 | 135.04 | 134.94 | — | — |
| Manipal Health Enterprises Ltd. This IPO | — | 7.71 | 7.67 | 72.55 | 10.57% |
Promoters
Ranjan Ramdas Pai, Manipal Global Health Services, Memg International Ltd., Kangto Investments Pte.Ltd., Imperius Healthcare Investments Pte.Ltd., Kabru Investments Pte.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 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 2 Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited 574.00 3 General corporate purposes 1,628.93 4 Issue Expenses 283.24 Total 8,038.93
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹6,265.17 Cr for the period ending 31 Mar 2024, increasing to ₹8,362.79 Cr by 31 Mar 2025, and further rising to ₹10,520.52 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹533.20 Cr for the period ending 31 Mar 2024, increasing to ₹1,081.67 Cr by 31 Mar 2025, though this is a 9-month figure, not a full year, so isn't directly comparable, and decreased to ₹916.52 Cr by 31 Mar 2026.
Valuation
Manipal Health Enterprises is priced at roughly 75.93 trailing earnings at the issue price, versus peers trading at P/E ratios ranging from 66.15 to 74.55.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in the unofficial market. A positive GMP suggests strong demand, while a negative GMP indicates weak demand. However, GMP is not a guaranteed predictor of actual listing performance.
Subscription Demand
The IPO was subscribed 5.12 times overall, with significant interest from institutional investors (QIBs) at 8.54 times. Retail investors subscribed at 0.98 times, indicating less demand compared to other categories.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, industry position, and financial health.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it involves inherent risks associated with new market entrants.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date for subscription is July 29, 2026, and it closes on July 31, 2026. Allotment of shares will be finalized by August 3, 2026, with the listing date set for August 5, 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in price due to high demand, others may not perform as expected. Investors should be prepared for the possibility of price fluctuations on the listing day.
This evaluation is generated from Manipal Health Enterprises's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Manipal Health Enterprises IPO GMP today?
Manipal Health Enterprises IPO GMP today is +₹3.0 (0.51%), indicating an estimated listing price of ₹593. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Manipal Health Enterprises IPO?
The price band of Manipal Health Enterprises IPO is ₹560.0–₹590.0 per share.
When does Manipal Health Enterprises IPO open and close?
Manipal Health Enterprises IPO opens on 29 July 2026 and closes on 31 July 2026.
When does Manipal Health Enterprises IPO list on the stock exchange?
Manipal Health Enterprises IPO listed on 05 August 2026 at ₹593.0.
What is the lot size for Manipal Health Enterprises IPO?
The lot size for Manipal Health Enterprises IPO is 25 shares, requiring a minimum investment of ₹14,750.
What is the price band for the IPO?
The price band for the IPO is ₹560 to ₹590.
What is the minimum investment required?
The minimum investment required is ₹14,750.
What is the lot size for the IPO?
The lot size for the IPO is 25 shares.
When is the listing date?
The listing date is August 5, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Jul 2026
Close
31 Jul 2026
Allotment
03 Aug 2026
Listing
05 Aug 2026
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