Manipal Health IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 4,927.57 | 6,265.17 | 8,362.79 | 10,520.52 |
| Expense | 4,225.20 | 5,340.51 | 7,134.43 | 9,268.42 |
| Profit (PAT) | 414.20 | 533.20 | 1,081.67 | 916.52 |
| Total Assets | 7,936.78 | 10,818.83 | 14,072.08 | 24,864.50 |
| Company | EPS | P/E | Income |
|---|---|---|---|
| Apollo Hospitals Enterprise Ltd | 135.04 | 66.15 | 25,228.50 Cr |
| Fortis Healthcare Ltd | 13.80 | 70.22 | 9,127.84 Cr |
| Max Healthcare Institute Ltd | 14.83 | 74.55 | 10,065.00 Cr |
Promoters: Dr. Ranjan Ramdas Pai, Manipal Global Health Services, Memg International Ltd, Kangto Investments Pte. Ltd., Imperius Healthcare Investments Pte. Ltd., and Kabru Investments Pte. Ltd
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,17,97,57,321 | 81.43% |
Strengths & Risks
- Strongly subscribed — 4.9x overall (so far).
- Strong institutional (QIB) demand — 8.3x.
- Revenue grew 26% in the latest reported year.
- Solid profit margin — 8.7%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Our metrics didn't flag a major concern for Manipal Health from the disclosed data — but this isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Manipal Health Enterprises Limited is a healthcare company in India that runs many hospitals, clinics, and diagnostic centres. It is part of the Manipal Group, which was started by T. M. A. Pai. Moreover, the company provides different types of medical services such as organ transplants, oncology, cardiology, neurology, orthopaedics, and preventive healthcare. The company has a major of give good quality care to patients and make healthcare more available. As of September 30, 2025, the company runs 38 hospitals (or 48 hospitals on a pro forma basis) with 10,761 beds (or 12,367 licensed beds on a pro forma basis). It also operates 17 clinics.
| Purpose | Amount (Cr) |
|---|---|
| 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 | 5,378.00 |
| Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited | 574.00 |
| General corporate purposes | - |
Resources & Documents
Manipal Health Enterprises Ltd., The Annexe,, 98/2, Rustom Bagh,, HAL Airport Road,, Bengaluru, Karnataka, 560017
Manipal Health has set a price band of Rs 560–Rs 590 per share for an issue size of Rs 9,274 crore. The stock listed with a 10.51% gain versus its issue price on August 05, 2026.
Manipal Health Enterprises Limited is a healthcare company in India that runs many hospitals, clinics, and diagnostic centres. It is part of the Manipal Group, which was started by T.
The issue is promoted by Dr. Ranjan Ramdas Pai, Manipal Global Health Services, Memg International Ltd, Kangto Investments Pte. Ltd., Imperius Healthcare Investments Pte. Ltd., and Kabru Investments Pte. Ltd with Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited,… acting as lead manager. Net proceeds will primarily be used towards Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one… (Rs 5,378 crore) and Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited (Rs 574 crore).
Grey market is quoting a premium of +Rs 3.5 (+0.6% over issue price), down Rs 30 from the previous session. Final subscription data records overall subscription at 4.92x, retail at 0.93x, QIB at 8.25x, NII at 1.02x.
On fundamentals, the company is posting revenue growth of 25.8%, a profit margin of 8.7% in its most recent reported period. Listed peers in this segment include Apollo Hospitals Enterprise Ltd (P/E 66.15x) and Fortis Healthcare Ltd (P/E 70.22x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Manipal Health IPO GMP — What It Means
The latest grey market premium for Manipal Health IPO is ₹4 (+0.6%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Manipal Health it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full Manipal Health GMP history and trend, or learn how grey market premium works and how reliable it is.
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