Manipal Health Enterprises IPO
Manipal Health Enterprises IPO is a mainboard IPO raising ₹9,275 Cr at ₹560 – ₹590 a share. It listed on 5 Aug 2026 at ₹652, +10.5% against its issue price of ₹590, and trades at ₹634 today (+7.4% since issue). It was subscribed 4.92× in total.
4.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs590. Checked: exchange issue size Rs9275 Cr vs derived Rs9275.2 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 10% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Apollo Hospitals Enterprise Ltd | 66.15× | — | ₹134.94 |
| Fortis Healthcare Ltd | 70.22× | — | ₹13.8 |
| Max Healthcare Institute Ltd | 74.55× | — | ₹14.76 |
| This issue | 76.9× | 10.57% | ₹7.67 |
derived: cut-off price Rs590 / stated EPS Rs7.67 (FY2026 diluted EPS, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.