Manipal Health Enterprises’ Rs 9,275-crore IPO sets price band at Rs 560-590, to open July 29

Manipal Health Enterprises, backed by Temasek and Ranjan Pai, has set a price band of Rs 560-590 per share for its Rs 9,275-crore IPO, which includes a fresh issue of Rs 8,000 crore and an offer-for-sale of 2.16 crore shares worth Rs 1,275.2 crore. The public issue opens on July 29 and closes on July 31, with anchor book opening on July 28; allotment is expected by August 3 and listing on August 5. Of the fresh issue proceeds, Rs 5,378 crore will be used to repay loans and Rs 574 crore for acquiring a minority stake in Sahyadri Hospitals.