Shares of Bengaluru-based Manipal Health Enterprises made a strong market debut on Wednesday, listing at an 11 per cent premium to the issue price on the BSE.The stock began trading at ₹655 against the IPO price of ₹590 on the BSE.On the NSE, it listed at ₹652, up 10.5 per cent. It later moderated to trade between ₹635 and ₹662 and was at around ₹651 at the time of writing.Shivani Nyati, Head of Wealth at Swastika Investmart, said Manipal Health Enterprises’ 11 per cent listing premium reflected healthy investor demand, but added that the stock is trading at a premium valuation with limited margin of safety. She said allotted investors can continue to hold the stock, while fresh investors should wait for better entry levels or further debt reduction before buying. Nyati also advised maintaining a stop-loss at ₹620 to protect listing gains.IPO subscription data and issue sizeThe company’s ₹9,275 crore initial public offering was subscribed 4.92 times overall. The issue received bids for 44,30,73,025 shares against 9,00,88,286 shares on offer, according to NSE data.The qualified institutional buyers’ portion was subscribed 8.25 times, while the non-institutional investors’ category was subscribed 1.02 times. The retail investors’ portion was subscribed 93 per cent.Ahead of the IPO, Manipal Health raised ₹4,167 crore from anchor investors, including Abu Dhabi Investment Authority and Allianz Global Investors Fund.The IPO was priced in the band of ₹560-590 per share, valuing the company at a little over ₹77,600 crore at the upper end of the price band.The public issue comprised 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 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 operates a pan-India network of multispecialty hospitals offering services ranging from outpatient care to tertiary and quaternary interventions.Published on August 5, 2026