Applicants who applied for bids for the initial public offering (IPO) of Manipal Health Enterprises can expect updates regarding their share allotment status today, August 3, as the healthcare chain prepares to finalise share allocation for its Rs 9,275-crore public issue.
Following the completion of the basis of allotment, applicants can verify their allotment status online through the issue’s registrar, KFin Technologies, or via the official websites of BSE and NSE. The company’s shares are proposed to be listed on the BSE and NSE on August 5.
Manipal Health Enterprises IPO Subscription Status
The initial public offer of Manipal Health Enterprises was subscribed 4.92 times on the closing day of bidding on Friday.
The company’s IPO received bids for 44,30,73,025 shares against 9,00,88,286 shares on offer, according to NSE data.
The portion for Qualified Institutional Buyers (QIBs) received 8.25 times subscription, while the quota for non-institutional investors got subscribed 1.02 times. The retail investors’ portion received 93 per cent subscription.
Manipal Health Enterprises garnered Rs 4,167 crore from anchor investors, including Abu Dhabi Investment Authority and Allianz Global Investors Fund.
Manipal Health Enterprises IPO details
The price band for the IPO is Rs 560-590 per share, valuing the company at a little over Rs 77,600 crore at the upper end.
The Bengaluru-based company’s IPO comprises a fresh issue of equity shares worth up to Rs 8,000 crore and an Offer-for-Sale (OFS) of up to 2.16 crore equity shares by existing shareholders.
The company proposes to utilise Rs 5,378 crore from the fresh issue towards repayment or prepayment of borrowings of its subsidiary, Manipal Hospitals Pvt Ltd.
It has earmarked Rs 574 crore for acquiring the minority stake in step-down subsidiary Sahyadri Hospitals Pvt Ltd, while the remaining funds will 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.
