Manipal Health Enterprises lists after ₹9,275-cr IPO with QIBs-led subscription
Manipal Health Enterprises is making its stock market debut today after its ₹9,275-crore IPO.
The offer saw strong interest from big institutional investors but less excitement from retail buyers.
Overall, the IPO was subscribed nearly five times, with QIBs leading the charge.
Most proceeds to repay ₹5,553-cr debt
Most of the funds, about ₹5,553 crore, will go toward paying off nearly half of the company's debt, and another chunk will help them buy a stake in Sahyadri Hospitals.
Even though total income rose 26% year-on-year to ₹10,520.5 crore, profits actually dipped compared to last year.
With high valuations and not much retail buzz, Mahesh M Ojha of Kantilal Chhaganlal Securities expects the listing to remain muted, with the possibility of a flat-to-discount debut for Manipal shares today.