Manipal Health Enterprises sets price band for Rs 9,275 crore IPO, opens July 29
Manipal Health Enterprises has announced the price band for its upcoming IPO, aiming to raise Rs 9,275 crore. The hospital network plans to use the majority of the proceeds to reduce debt and fund strategic acquisitions.
Why it matters
This IPO is a major financial event in the Indian healthcare sector, reflecting significant investor interest in large-scale hospital chains.
Bengaluru-based Manipal Health Enterprises, which runs the Manipal Hospitals network, will open its maiden public issue for subscription on July 29. The IPO has been fixed in the price band of Rs 560-590 per share.Backed by Temasek and Ranjan Pai, the healthcare company plans to raise Rs 9,275 crore through the IPO. The issue comprises a fresh issue of Rs 8,000 crore and an offer-for-sale (OFS) of 2.16 crore equity shares worth Rs 1,275.2 crore.Imperius Healthcare Investments and Manipal Education and Medical Group India, along with investors TPG SG Magazine, Seventy Second Investment Company, Ammar Sdn Bhd, Novo Holdings Invest Asia and Phoenix Bear Investments, will sell shares through the OFS.The anchor book will open for one day on July 28, ahead of the public issue, which will remain open until July 31.
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