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HomeIPOManipal Health Enterprises

About Manipal Health Enterprises

Manipal Health Enterprises Limited is a service provider in the field of healthcare and runs a large chain of multi-specialty hospitals, clinics, and diagnostic centers all over the country. It is a constituent of the Manipal Group which was established by T. M. A. Pai. It provides diversified healthcare facilities that include tertiary and quaternary care, organ transplant, oncology, cardiology, neurology, orthopaedics, and preventive healthcare services. The hospitals maintained by it are well equipped with high-quality medical equipment and have expert medical practitioners working there. Manipal Health aims at providing quality and patient-oriented care along with the expansion of its presence in the healthcare market through strategic acquisitions, partnerships, and investment in its medical and digital health infrastructure. As per September 30, 2025, the company had 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 running 17 clinics as on September 30, 2025.

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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Manipal Health Enterprises

Manipal Health Enterprises

Open Date

Jul 29, 2026

Close Date

Jul 31, 2026

listed

Min Investment

₹14,750

Lot Size

25 Shares

Issue Size

₹9275.21 Cr

Price Range

₹560 - ₹560

Listing Date

Aug 5, 2026

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The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹7(+1.19%)GMP
1.19%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Manipal Health Enterprises IPO - Issue Objectives

₹574 crore to fund minority stake acquisition in Sahyadri Hospitals Pvt. Ltd. ₹5,552.76 crore to repay borrowings of its material subsidiary. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Investment in subsidiary

7.1%

Repayment of debts

69.4%

General corporate purposes

23.4%

1

Investment in subsidiary

₹574 crore to fund minority stake acquisition in Sahyadri Hospitals Pvt. Ltd.

7.10%
2

Repayment of debts

₹5,552.76 crore to repay borrowings of its material subsidiary.

69.40%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

23.40%

IPO Subscription Status

QIB
8.54x
NII
1.06x
Individual
0.97x
Total
5.12x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Manipal Health Enterprises

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

India’s largest multispecialty hospital group

As of March 31, 2026, Manipal Health Enterprises was India’s largest multi-speciality hospital network across the country by licensed bed capacity at 13,037 beds. It is also the second largest hospital chain in India in terms of number of hospitals. It is the private hospital chain with the widest geographical presence in the country with a network of hospitals across 14 states and union territories.

02

Leadership across three metro markets

Manipal Health Enterprises is the only private hospital chain in India to have multiple presence simultaneously in three metro markets - Bengaluru, Kolkata and Pune. As of March 31, 2026, these markets comprised a total of 5,376 beds. At the same time, the company has a strong presence outside the major metros with 53.22% of its licensed beds located in non-metro cities.

03

Strong brand with a wide network

Manipal Hospitals brand has built up strong brand equity with the patients and the medical fraternity. On a pro forma basis, the brand served 63 lakh patients in FY26 compared to 41.4 lakh patients in FY24. The company has 11,064 doctors, 11,048 nurses and 6,362 paramedics as on March 31, 2026.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

High concentration in Karnataka

The company has 49 hospitals pan-India, and Karnataka contributed 46.40% of revenue in FY26. Any disruption, regulatory change or slowdown in patient demand in the state could materially affect overall revenue and profitability.

02

Hospital occupancy rate under pressure

Inpatient volumes increased while hospital occupancy fell to 64.4% in FY26 from 67.1% in FY25. Lower occupancy can squeeze margins as the company continues to incur high fixed costs across its hospital network.

03

Contact Details

Manipal Health Enterprises

The Annexe, #98/2, Rustom Bagh, HAL Airport Road, Bengaluru, Karnataka - 560017.

+918049360300
legalcs@manipalhospitals.com
https://www.manipalhospitals.com

Manipal Health Enterprises IPO - FAQs

Manipal Health Enterprises IPO is a Mainboard IPO. The issue is priced at 560-₹590. The minimum order quantity is 25 Shares. The IPO opens on 29 Jul, and closes on 31 Jul. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.








IPO Timeline

  • Pre Apply2026-07-27
  • Bidding Starts2026-07-29
  • Bidding Ends2026-07-31
  • Allotment Finalisation2026-08-03
  • Release of Funds2026-08-04
  • Demat Transfer2026-08-04
  • Listing2026-08-05
04

Strong medical infrastructure

The company has advanced medical infrastructure and equipment to support its clinical capabilities. As of March 31, 2026, the company had 18 soft tissue robots, 19 linear accelerators, 44 MRI scanners, 23 orthopaedic and spine surgical robots and 58 cath labs.

05

Track record of successful acquisition and integration

Between March 31, 2021 and March 31, 2026, the enterprise added 5,548 beds through acquisitions, the highest among private hospital chains in India during this period. Its acquisition track record includes Columbia Asia, Vikram Hospitals, AMRI, Medica Synergie and the Sahyadri Group.

High reliance on key specialities

In FY26, specialities of CONGO-R such as cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences accounted for 64.3% of gross inpatient revenue.

04

Acquisition integration risk

The company acquired an 89.9% stake in Sahyadri Hospitals in FY26 and has not yet integrated the business. Sahyadri contributed 5.7% of FY26 revenue but reported a loss after tax of ₹ 40.7 crore.

05

Previous investment impairments

The company has already recognised significant impairment charges, including a goodwill impairment of ₹ 114.07 crore in HealthMap Diagnostics and an impairment of ₹22.23 crore on Medica TS in FY25. Further impairments may occur due to underperformance of acquired assets.