Manipal Health Enterprises launched its initial public offering (IPO) on July 29, targeting ₹9,275 crore. The hospital operator set a price band of ₹560-590 per equity share. The IPO includes a fresh issue of 13.56 crore shares alongside an offer for sale. The subscription window will remain open until July 31, with allotment expected on August 3 and listing scheduled for August 5, according to livemint.com.
The IPO comprises both a fresh issue and an offer for sale, allowing existing shareholders to offload shares. Investor response has been muted, reflected in the grey market premium (GMP) trends observed on the second day of subscription. The public issue aims to raise capital to support Manipal Health's expansion and operational needs. The company has positioned the IPO price band to attract retail and institutional investors alike, as detailed by livemint.com.
This IPO is one of the largest in the healthcare sector this year, underscoring growing investor interest in hospital chains amid rising healthcare demand in India. Comparable recent listings in the healthcare space have seen mixed subscription levels, making Manipal Health's performance a key indicator for market sentiment. The fresh capital raised is expected to bolster Manipal Health's network and service capabilities, enhancing its competitive position in the sector, per livemint.com.
IPO allotment is scheduled for August 3, with shares set to list on stock exchanges on August 5. Market participants will closely watch subscription numbers and listing performance to gauge investor appetite for healthcare equities in the current market environment, according to livemint.com.