Manipal Health Enterprises IPO subscribed 5x on closing day
The IPO comprises a fresh issue of equity shares worth up to ₹8,000 crore and an offer for sale of up to 2.16 crore equity shares by existing shareholders
Manipal Health Enterprises' IPO attracted significant interest, with subscriptions 5 times the available shares on the closing day of bidding. Qualified institutional buyers (QIB) participated heavily, subscribing 8.25 times, while non-institutional investors (NII) and retail investors subscribed 1.02 and 0.93 times respectively.
The employee quota saw a subscription rate of 2.19 times. The IPO includes a fresh issue of up to ₹8,000 crore in equity shares and an offer for sale of up to 2.16 crore equity shares. The price band of ₹560-590 per share values the company at over ₹77,600 crore at the higher end. The IPO period spans three days, ending on July 31.
Promoters Imperius Healthcare Investments Pte Ltd, Manipal Education and Medical Group India Pvt Ltd, and several investors are involved in the sale. The company has raised ₹4,167 crore from anchor investors prior to the public issue, with plans to use ₹5,378 crore for debt repayment and acquisition of a stake in Sahyadri Hospitals Pvt Ltd. Manipal Health shares are set to be listed on the BSE and NSE on August 5.
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