Manipal Health IPO listing: Manipal Health share price made a strong debut in the Indian stock market on Wednesday, 5 August. The stock listed at 11% premium over the IPO price of ₹590.
Manipal Health shares debuted at ₹652 apiece on the NSE and ₹655 on the BSE, delivering listing gains of more than 11% to investors who were allotted shares in the IPO.
The listing of Manipal Health IPO exceeded the market expectations. The GMP of Manipal Health IPO was ₹3 ahead of the listing, indicating an estimated listing price of ₹593.
Manipal Health IPO details
The public issue was open for subscription from July 29 to July 31 and received an overall subscription of 4.92 times. Demand was driven primarily by institutional investors, with the Qualified Institutional Buyers (QIB) portion subscribed 8.25 times.
The Non-Institutional Investors (NII) segment was subscribed 1.02 times, while the Retail Individual Investors (RII) category saw bids for 93% of the shares reserved for retail participants.
The Manipal Health Enterprises IPO consisted of a fresh issue of 13.56 crore equity shares worth ₹8,000 crore and an Offer for Sale (OFS) of 2.16 crore shares valued at ₹1,275.22 crore, taking the total issue size to ₹9,275.22 crore.
The company had fixed the price band for the IPO at ₹560–590 per share.
A significant portion of the funds raised through the fresh issue will be used to improve the company’s financial position. Approximately ₹5,378 crore has been allocated towards debt repayment to reduce borrowing costs, while ₹574 crore will be utilised to acquire a minority stake in its step-down subsidiary, Sahyadri Hospitals.
The balance of the proceeds will be used for general corporate purposes and to fund future business expansion plans.
Kotak Mahindra Capital acted as the book-running lead manager for the issue, while KFin Technologies served as the registrar to the IPO.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
