Manipal Health Enterprises IPO sees 15% subscription on July 29
Business
Manipal Health Enterprises's much-awaited IPO opened on July 29 but saw only a mild response: just 15% of shares were snapped up on the first day.
Retail investors showed some interest at 27%, but most big players stayed on the sidelines.
The company is hoping to raise ₹9,275 crore overall.
Retail investors 27% employees 95% subscribed
While retail investors and employees (with an impressive 95% subscription) led the way, non-institutional and institutional investors barely participated.
Manipal plans to use the funds to pay off debt and buy more stake in its subsidiary Sahyadri Hospitals.
Shares are expected to list on BSE and NSE on August 5, so all eyes are now on whether interest picks up before then.