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Manipal Health Enterprises IPO Review

Manipal Health Enterprises IPO has been reviewed by 17 analysts, and the overall consensus is Apply — carrying a score of 72. Out of the 17 analysts who have covered this IPO, 10 recommend subscribing while 7 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹560-590 per share, with a minimum application size of 25 shares (minimum investment of approximately ₹14,750 at the upper band). Subscription ran from 29 Jul 2026 to 31 Jul 2026. The issue size is ₹9,275 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Manipal Health Enterprises IPO is quoting at ₹3 (0.51%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
72/ 100
Apply 10 of 17 recommend subscribing
How analysts voted
Apply 10
May apply 2
Neutral 2
Avoid 3
Not rated 3

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Manipal Health Enterprises is India's largest multi-specialty hospital group by bed capacity, with 49 hospitals and 13,037 licensed beds as of March 31, 2026. FY26 revenue from operations grew about 25% to Rs 10,335.75 crore, but profit after tax fell about 15% to Rs 916.52 crore because of higher employee cost, finance cost and depreciation following the Sahyadri acquisition. At the Rs 590 cap price the issue is valued at roughly 85 times post-issue FY26 earnings, against a listed peer group average of about 70 times. Rs 8,000 crore of the Rs 9,275.22 crore issue is a fresh issue, largely earmarked for debt repayment at Manipal Hospitals Private Limited.

Listing gains

The grey market premium has been muted in the run-up to the issue, at around Rs 10 (about 1.7% over the Rs 590 cap price) on July 28, 2026. GMP is an unofficial, unregulated indicator that moves through the bidding window, so the live GMP tracker and the day-wise QIB, NII and retail subscription figures on IPO Guru are a better guide than any single reading. Listing is tentatively scheduled for August 5, 2026 on BSE and NSE.

Short-term strategy

Over the near term, the price action will largely track the subscription build-up, particularly the QIB book, since 75% of the net offer is reserved for QIBs and only 10% for retail. The anchor book was scheduled for July 28, 2026, and anchor allocation details will be published here once the exchanges release them. With the issue priced above the peer average multiple, the room for a large listing pop is narrower than in issues that come at a discount to peers.

Long-term strategy

Over a longer horizon, the case rests on bed additions, occupancy and average revenue per occupied bed, plus how quickly the Sahyadri and other acquisitions are integrated. Net debt to adjusted EBITDA rose to 3.74x in FY26 from 2.00x in FY25; the fresh issue proceeds of Rs 5,552.76 crore are meant to bring borrowings down, which should ease the interest burden. Healthcare remains a regulated sector exposed to clinical, accreditation and price-control risk. This page is informational and is not investment advice; please read the RHP and consult a SEBI-registered adviser before investing.

How this is written: an AI-assisted summary of the 20 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Manipal Health Enterprises IPO?

The analyst consensus for Manipal Health Enterprises IPO tracked on this page is Apply, with a score of 72/100. Out of 17 analysts who have reviewed this IPO, 10 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 72 mean for Manipal Health Enterprises IPO?

The score of 72 is an aggregate of all analyst ratings tracked for Manipal Health Enterprises IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Manipal Health Enterprises IPO?

Manipal Health Enterprises IPO listed on August 5, 2026 at ₹652, against the issue price of ₹590 — a gain of +10.51% (₹62 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Manipal Health Enterprises IPO?

Manipal Health Enterprises IPO was priced at ₹560-590 per share. The minimum lot size is 25 shares, making the minimum investment approximately ₹14,750 at the upper end of the price band. Subscription ran from 29 Jul 2026 to 31 Jul 2026.

Explore Manipal Health Enterprises IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Manipal Health Enterprises IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
72 / 100
Listed at
₹652
Full IPO details