The ₹9,275-crore initial public offering of Manipal Health Enterprises was subscribed 2.54 times as of 1.45 pm on the closing day of bidding.The qualified institutional buyers (QIB) portion was subscribed 4.33 times, while the non-institutional investors (NII) category was subscribed 0.28 times. The retail investors’ portion saw 0.62 times subscription, and the employee quota was subscribed 1.90 times.The IPO comprises a fresh issue of equity shares worth up to ₹8,000 crore and an offer for sale of up to 2.16 crore equity shares by existing shareholders. The price band has been fixed at ₹560-590 per share, valuing the company at a little over ₹77,600 crore at the upper end. The three-day public issue closes on July 31.Promoters Imperius Healthcare Investments Pte Ltd and Manipal Education and Medical Group India Pvt Ltd, along with shareholders TPG SG Magazine Pte Ltd, Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia and Phoenix Bear Investments LLC, are selling shares through the offer for sale.The company had raised ₹4,167 crore from anchor investors, including Abu Dhabi Investment Authority and Allianz Global Investors Fund, ahead of the public issue.The company plans to use ₹5,378 crore from the fresh issue to repay or prepay borrowings of its subsidiary, Manipal Hospitals Pvt Ltd. It has also earmarked ₹574 crore to acquire the minority stake in step-down subsidiary Sahyadri Hospitals Pvt Ltd, with the remaining proceeds to be used for general corporate purposes.Manipal Health shares are scheduled to be listed on the BSE and NSE on August 5.Published on July 31, 2026