Manipal Health lists at 11% premium, raising ₹9,275 crore for debt reduction and Sahyadri buyout
Manipal Health Enterprises debuted at ₹655 on the BSE and ₹652 on the NSE, versus an IPO price of ₹590. The ₹9,275 crore offering includes an ₹8,000 crore fresh issue, with proceeds earmarked largely for debt repayment and acquiring Sahyadri Hospitals’ minority stake.
Manipal Health listed at an 11% premium to its ₹590 issue price, exceeding grey-market expectations. Fresh IPO proceeds will primarily repay Manipal Hospitals debt and fund acquisition of Sahyadri Hospitals’ minority stake, supporting its pan-India hospital network.
Why this matters
The listing follows Manipal Health's ₹4,167 crore anchor raise and expectations of a muted IPO debut. Its ₹8,000 crore fresh issue was positioned to reduce debt and support the Sahyadri Hospitals minority-stake acquisition.
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