Archive · 31 Jul 2026
Manipal Health IPO: 45% Subscribed, GMP Near 600
Manipal Health Enterprises, a big hospital chain in India, sold new shares to the public in July 2023.
People could buy shares for ₹560 to ₹590 each.
The company sold a lot of shares, but only about 45% were bought by the end of the second day.
The price people were willing to pay in the grey market was a little higher, around ₹600, so the shares might start trading a bit above the IPO price.
Some brokers think it’s a good long‑term investment, while others warn that the company will use most of the money to pay off debt and that it relies heavily on Karnataka.
Investors can decide based on how much risk they want to take.
Manipal Health Enterprises launched a ₹9,275 crore IPO on July 29, 2023, priced at ₹560–590 per share.
The issue includes a fresh offering of 13.56 crore shares (₹8,000 crore) and an OFS of 2.16 crore shares (₹1,275 crore).
Grey market premium on July 30 was ₹9, suggesting a listing price near ₹599–₹596, about 1–1.5% above the IPO price.
Subscription levels were 0.15× on day 1 and 45% on day 2, with QIBs receiving 60% of the QIB portion and retail investors 45%.
Brokerages are split: Anand Rathi, ICICI Securities, SBICAP, and Master Capital recommend subscription for long‑term growth, while Swastika Investmart advises caution due to debt repayment and high Karnataka dependence.
- Who
- Manipal Health Enterprises and investors
- What
- Initial public offering of equity shares
- When
- July 29–31, 2023 (subscription) and August 5, 2023 (listing)
- Where
- India, BSE and NSE
- Why
- To raise capital for debt repayment and future expansion
- IPO price band
- ₹560–590 per share
- Total amount raised
- ₹9,275 crore
- Fresh issue
- ₹8,000 crore (13.56 crore shares)
- OFS
- ₹1,275 crore (2.16 crore shares)
- Grey market premium
- ₹9 (July 30)
- Listing date
- August 5, 2023
- Subscription status day 2
- 45%
- QIB allocation
- up to 75% of issue
