Manipal Health to Launch ₹9,275 Crore IPO on July 29; Price Band Set at ₹560-590

Manipal Health ready for record-breaking ₹9,275 crore IPO

India’s healthcare sector is preparing for one of the biggest public offerings in its history. Manipal Health Enterprises, backed by Temasek, has officially announced its forthcoming Initial Public Offering that will raise a whopping ₹9,275.22 crore. The announcement has already created a buzz in the financial and medical circles, with the price band being locked between ₹560 and ₹590 per equity share.

The public issue comprises a fresh issue of up to ₹8,000 crore and an offer-for-sale (OFS) component of up to 2.1 million shares aggregating up to ₹1,275.22 crore. This dual structure offers an exit window for early backers and institutional investors (including TPG Capital and Temasek’s Imperius Healthcare Investments) and opens the door for public investors to buy into a trusted healthcare brand. Anchor investor bids will open July 28, while public subscription will be open from July 29 to July 31. Stock is expected to be officially listed by August 5.

Strengthening Financial Position and Growing National Presence

Beyond the headline numbers, the company has a clear and strategic plan for how it will use the money it raises. A big chunk of the fresh proceeds – around ₹5,500 crore – will be put to immediate use for deleveraging the balance sheet, with the ultimate goal of making the hospital chain completely debt-free. Also, ₹574 crore has been earmarked for buying a minority stake in its step-down subsidiary, Sahyadri Hospitals, strengthening internal synergies.

The Bengaluru-headquartered healthcare giant is not resting on its laurels, led by managing director and CEO Dilip Jose. At a recent press conference in Mumbai, management announced an ambitious roadmap to add more than 2,400 new beds to its existing network of over 13,000 beds spread across 14 states by the end of the decade.

Developing the Future of Patient Care Across India

Manipal's growth strategy is much more than numbers; it is a big push to bring world-class medical infrastructure to new corners of the country. Future projects include a 603-bed greenfield hospital in Juhu, Mumbai, and a 360-bed project in Raipur that will mark the brand’s entry into Central India.

We are planning more expansions in the pipeline for cities like Pune, Nashik and Bengaluru and also have strategic land banks in West Bengal. With leadership eyeing future entry points in Delhi-NCR, Hyderabad & Kerala, this blockbuster IPO is all set to fuel a transformational era of accessible,