Manipal Health repays ₹5,310 crore debt using IPO proceeds

Manipal Health Enterprises Limited has fully repaid a ₹5,310 crore debt raised through non-convertible debentures (NCDs) by its wholly owned subsidiary, Manipal Hospitals Private Limited, as part of its post-listing financial strategy.

The hospital chain on Friday said it has redeemed the entire outstanding listed NCDs issued by Manipal Hospitals, including the principal amount, accrued interest and applicable prepayment charges.

The repayment was funded through proceeds from the company’s initial public offering (IPO), through which Manipal Health raised ₹8,000 crore by issuing fresh shares to public investors and institutional investors. According to the company, ₹5,310 crore of the IPO proceeds was earmarked for debt repayment, in line with the objectives disclosed in its IPO prospectus dated July 31, 2026.

The debt reduction is expected to lower the company’s interest burden, improve its leverage position and provide greater financial flexibility for future expansion and investments in capacity, technology and healthcare infrastructure.