Manipal Health Enterprises Limited

Manipal Health Enterprises (NEW IPO): GMP, Profit, Price & expert review

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Manipal Health Enterprises Limited is a leading healthcare service provider engaged in operating and managing multi-speciality hospitals, clinics, and diagnostic centers across India. The company focuses on tertiary and quaternary care services such as cardiology, oncology, neurosciences, and orthopaedics, serving patients through both inpatient and outpatient care.

Manipal Health Enterprises Limited was incorporated in 2010 & currently Mr. Dilip Jose serves as the Managing Director & CEO of the company.

Manipal Health Enterprises Limited Operates ~33+ hospitals network with ~12,000+ beds across India (one of the largest hospital chains). Among top 2 healthcare providers in India by size, indicating strong market presence and reach.

Manipal Health Enterprises Limited filed its DRHP with SEBI on March 23, 2026. The IPO features a fresh issue of ₹ 8000 crore and an Offer for Sale (OFS) of ~ 4.32 Cr equity shares.

Subscription date to apply for Manipal Health Enterprises Limited is yet to be announced. Price band for the IPO is yet to be declared.

Check DRHP
Check IPO Allotment
Visit OfficialWebsite
Issue Size:₹ 8000 Cr + 43,227,668 Equity Shares
Fresh Issue:₹ 8000 Cr
Offer for Sale:43,227,668 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Manipal Health Enterprises Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 5865.65 Cr
Revenue:₹ 8242.25 Cr
EBITDA₹ 2247.07 Cr
EBITDA Margin:~27.26%
PAT₹ 1081.67 Cr
PAT Margin~ 13.12%
Face Value:₹ 02

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Borrowing Repayment₹ 5378 Cr
Subsidiary Investment₹ 574 Cr
Sales and MarketingN/A
Ultra-Advanced AI Staffing SuiteN/A

Manipal Health Enterprises Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 4839.61₹ 6171.63₹ 8242.25
PAT (₹ Cr)₹ 414.2₹ 533.2₹ 1081.67
Asset (₹ Cr)₹ 7936.78₹ 10818.82₹ 14072.08
Net Worth (₹ Cr)₹ 3325.28₹ 4029.22₹ 5865.65

Manipal Health Enterprises Limited IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
05-Apr₹ –₹ –₹ –
04-Apr₹ –₹ –₹ –
03-Apr₹ –₹ –₹ –
02-Apr₹ –₹ –₹ –
01-Apr₹ –₹ –₹ –
Manipal Health Enterprises Limited

Manipal Health Enterprises Limited IPO Pros & Cons

Strengths:

  • Strong brand and reputation in India’s hospital sector with a large multi-city network.
  • Presence in high-margin tertiary & quaternary care segments driving better profitability.
  • Backed by reputed global investors (like Temasek) enhancing credibility and governance.
  • Growing healthcare demand in India due to rising income, insurance penetration, and lifestyle diseases.
  • Scalable business model with expansion potential through acquisitions and new hospitals.

Risks:

  • Capital-intensive business requiring continuous high investment in infrastructure and technology.
  • High competition from other large hospital chains like Apollo, Fortis, and Max Healthcare.
  • Profitability can be impacted by regulatory changes in healthcare pricing and insurance policies.
  • Debt levels may be significant due to past expansions and acquisitions.
  • IPO valuation may be expensive given strong investor interest and large issue size.

Manipal Health Enterprises Limited
Promoters – Pre offer equity (Approx)

Promoters%Shares
Kangto Investments Pte. Ltd.~ 26.45 %
Manipal Global Health Services~ 19.68 %
Imperius Healthcare Investments Pte. Ltd.~ 17.77 %
Kabru Investments Pte. Ltd.~ 5.78 %
Dr. Ranjan Ramdas Pai~ 0.18 %

Manipal Health Enterprises Limited Promoters – Pre offer equity (Approx)

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Manipal Health Enterprises Limited

Lead / Book Running Lead ManagersMotilal Oswal Investment Advisors Ltd
Axis Capital Ltd
IIFL Capital Services Ltd
Registrar (RTA)KFin Technologies Limited

FAQ’S of Manipal Health Enterprises Limited

  • It is a leading hospital chain operating multi-speciality hospitals offering advanced tertiary and quaternary care services, including cardiology, oncology, and organ transplants across India.

  • Manipal Health Enterprises is raising funds via IPO to reduce debt, fund acquisitions like Sahyadri Hospitals, and support expansion of its healthcare network and infrastructure.

  • The IPO includes a Fresh Issue of ₹ 8000 Crore and an Offer for Sale (OFS) of ~4.32 Cr Equity shares. It will be listed on NSE and BSE platform.

  • Key risks include high capital expenditure, regulatory pricing risks, competition from large hospital chains, and dependence on occupancy rates can impact profitability and returns.

  • Potential upsides include strong brand, large hospital network, rising healthcare demand, and expansion opportunities position the company for long-term growth in India’s underpenetrated healthcare sector.

  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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