Temasek-backed Manipal Health Enterprises Ltd's Initial Public Offering to Open on Wednesday, July 29, 2026,
FinTech BizNews Service
Mumbai, July 23, 2026: Manipal Health Enterprises Limited has fixed the price band of Rs560/- to Rs590/- per Equity Share of face value Rs2/- each for its initial public offer.
The Initial Public Offering ("IPO" or "Offer") of the Company will open on Wednesday, July 29, 2026, for subscription and close on Friday, July 31, 2026.
Investors can bid for a minimum of 25 Equity Shares and in multiples of 25 Equity Shares thereafter.
Equity shares outstanding as on date 1,179,757,321 Equity Shares of Rs2 each.
The IPO is a fresh issue of up to Rs 8,000 crore, and an offer-for-sale of up to 21,613,834 equity shares by promoters - Imperius Healthcare Investments Pte. Ltd, and Manipal Education and Medical Group India Private Limited.
Particulars | Fresh Issue | OFS | Total Issue Size |
Lower Price Band (Rs. 560 per share) | Rs. 8000 crore | Rs. 1210.38 crore | Rs. 9210.38 crore |
Upper Price Band (Rs. 590 per share) | Rs. 8000 crore | Rs. 1275.22 crore | Rs. 9275.22 crore |
Investors selling shares include TPG SG Magazine Pte. Ltd, 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 Private Limited, Rs 574 crore for acquisition of minority stake in the company's step-down subsidiary, Sahyadri Hospitals Private Limited, and general corporate purposes.
The company operates a pan-India network of multispecialty hospitals delivering a comprehensive range of care services—from outpatient services to complex tertiary and quaternary interventions. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories.
The company has the widest footprint in terms of presence of hospitals among private hospital chains in India as of March 31, 2026 (Source: CRISIL Report). It is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by number of hospitals as of March 31, 2026 (Source: CRISIL Report).
For Fiscal 2026, the company reported the second-highest revenue from operations of Rs103,357.51 million (Rs109,356.18 million on a pro forma basis) among private hospital chains in India (Source: CRISIL Report).
In its three key regions of Karnataka, Maharashtra and Goa and West Bengal, Odisha, Jharkhand, and Sikkim, the company had 6,404, 2,188 and 2,887 licensed beds, respectively, as of March 31, 2026.
Among private hospital chains in India, as of March 31, 2026, the company is the largest player in Karnataka, the largest player in Maharashtra and Goa region, and the largest player in select states of West Bengal, Odisha, Jharkhand, and Sikkim (Source: CRISIL Report). Licensed beds represent the total number of hospital beds approved by regulatory authorities in a facility.
The company is the only private hospital chain network in India to lead in three metro markets of Bengaluru, Kolkata and Pune by bed capacity (5,376) as of March 31, 2026 (Source: CRISIL Report). As of March 31, 2026, the company had 2,579, 1,513 and 1,284 licensed beds and 12, five and nine hospitals in Bengaluru, Kolkata and Pune respectively. Its multi-hospital presence in these metros allows the company to deliver care closer to patients' homes, reduce travel times for critical interventions, and serve broad referral areas within each city.
In line with the company's core philosophy to improve access to healthcare, it maintains a balanced presence across metros and non-metros, with 46.78% of its licensed beds located in metros and 53.22% of its licensed beds located in non-metros as of March 31, 2026.
The company served 7.63 million patients across its network (including its O&M hospitals) in Fiscal 2026. Further, it had 11,064 doctors available to provide their services in its hospitals as of March 31, 2026.
The company offers clinical services across several specialties, with a focus on tertiary and quaternary care, particularly in cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics, and renal sciences (CONGO-R). These specialties involve high-acuity cases or cases that are severe, complex and require advanced interventions and high levels of care.
Its revenue from operations was Rs 10,335.8 crore during FY26 as compared to Rs 6,171.6 crore during FY24.
Its net profit was Rs 916.5 crore during FY26 as compared to Rs 533.2 crore during FY24.
Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, UBS Securities India Private Limited, and DBS Bank India Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the offer.
The equity shares are proposed to be listed on BSE and NSE.
