Manipal Health IPO

Manipal Health Enterprises Limited is the second-largest hospital chain in India by number of hospitals and one of the largest by bed capacity, operating a multispecialty network of 49 hospitals with over 12,600 licensed beds across 14 states as of late 2025. The company’s core business model focuses on high-value tertiary and quaternary care, with a significant revenue contribution from "CONGO-R" specialties (Cardiac, Oncology, Neuro, Gastro, Ortho, and Renal sciences). For the fiscal year ending March 31, 2025, the company reported robust financial growth with Revenue from Operations of ?8,242.25 crore and a Profit After Tax (PAT) of ?1,081.67 crore. The proposed ?8,000 crore fresh issue is strategically designed to de-leverage the balance sheet, with ?5,378 crore earmarked specifically to repay or prepay borrowings of its material subsidiary, Manipal Hospitals Private Limited. Additionally, the company intends to use ?574 crore to consolidate its Western India presence by acquiring the remaining minority stake in Sahyadri Hospitals, signaling a shift from aggressive acquisition-led growth to capital structure optimization and margin expansion.;