Manipal Health Rs 9275 Crore IPO From July 29

Mumbai: Primary market remained buoyant with Bengaluru based Manipal Health Enterprises fixing a price band of Rs 560 to Rs 590 per equity share of Rs 2 face value for Rs 9,275 crore initial public offering that opens on July 29 and closes on July 31, 2026.

Manipal Health's IPO is second biggest public issue this year after SBI Funds Management's Rs 11,693 crore making market debut this week.

Also Securities and Exchange Borad of India cleared IPO proposals of Intellius Recode and Nityas Gems and Jewellery.

Manipal Health is promoter of Manipal Hospitals that operated 49 hospitals in India with 13,037 licensed beds for patient care as of March 31, 2026. Maximum number of 19 hospitals with 6,404 beds are in Karnataka deriving derived 46.40 company's total revenue from operations. The hospital chain has now pan India presence with 13 hospitals with 2,188 beds across Maharashtra and Goa;10 hospitals with 2,887 beds across West Bengal, Odisha, Jharkhand and Sikkim in eastern India; 7 hospitals with 1,558 beds across Delhi, Andhra Pradesh, Rajasthan, Uttar Pradesh, Haryana, Punjab and Tamil Nadu.

The IPO is a fresh issue of up to Rs 8,000 crore, and an offer-for-sale of over 2.16 crore equity shares by promoters - Imperius Healthcare Investments, and Manipal Education and Medical Group India. Investors selling shares include TPG SG Magazine, Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S and Phoenix Bear Investments, LLC.

The proceeds from its fresh issuance worth Rs 5,552.8 crore will be utilised for repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the company's material subsidiaries- Manipal Hospitals, Rs 574 crore for acquisition of minority stake in the company's step-down subsidiary, Sahyadri Hospitals and for general corporate purposes.