Manipal Health Enterprises jumps up to 11% on market debut
Business
Manipal Health Enterprises just had a strong stock market debut, opening at ₹652 on the NSE and ₹655 on the BSE, a premium of up to 11% over its IPO price of ₹590.
Shares even touched highs of ₹675.80 on the NSE and ₹676.05 on the BSE before closing slightly lower, making it a pretty solid first day for the hospital chain.
Manipal Health IPO nearly 5x oversubscribed
The IPO was open from July 29 to July 31, and demand was huge: it was nearly five times oversubscribed.
At ₹9,275 crore, this was the second-biggest IPO of the year after SBI Funds Management.
Backed by Temasek, Manipal Health's market cap hit ₹87,229.24 crore by closing time, cementing its spot as one of India's largest listed hospital chains.