Manipal Health Executives Outline Growth Strategy Ahead of ₹9,275-Crore IPO

Bilkul Bazaar

Ahmedabad

Manipal Health Enterprises Ltd. on Monday announced that its Initial Public Offering (IPO) will open for public subscription on July 29, with senior company officials and investment bankers briefing the media in Ahmedabad on the company’s growth strategy, financial performance and future expansion plans.

The media interaction was addressed by Karthik Rajagopal, Chief Operating Officer, Manipal Health Enterprises Ltd.; Sameer Agarwal, Chief Financial Officer, Manipal Health Enterprises Ltd.; and Ujjwal Singh, Managing Director – Pharma & Healthcare, Axis Capital Ltd.

The IPO has been priced in the band of ₹560-590 per equity share and comprises a fresh issue of ₹8,000 crore along with an offer for sale of up to 21.61 million equity shares by existing shareholders. The issue will close on July 31.

Speaking on the occasion, Karthik Rajagopal, Chief Operating Officer, Manipal Health Enterprises Ltd., said the company has built one of India’s largest integrated healthcare networks by combining clinical excellence with accessibility. He highlighted that the hospital chain currently operates 49 hospitals with 13,037 licensed beds across 14 states and Union Territories, enabling it to deliver advanced tertiary and quaternary care across the country.

Sameer Agarwal, Chief Financial Officer, Manipal Health Enterprises Ltd., said the proceeds from the fresh issue will primarily be utilised for repayment and prepayment of borrowings of Manipal Hospitals Private Limited, acquisition of a minority stake in Sahyadri Hospitals Private Limited and general corporate purposes. He noted that the company has delivered strong financial growth, with revenue from operations rising to ₹10,335.8 crore in FY26 from ₹6,171.6 crore in FY24, while net profit increased to ₹916.5 crore from ₹533.2 crore during the same period.

Ujjwal Singh, Managing Director – Pharma & Healthcare, Axis Capital Ltd., said Manipal Health has established a strong leadership position in India’s healthcare sector through its wide geographic footprint, operational scale and consistent financial performance. He added that the company’s diversified hospital network and focus on high-acuity care provide a strong platform for long-term growth.

In a statement, Dilip Jose, Managing Director & Chief Executive Officer, Manipal Health Enterprises Ltd., said, “This IPO marks an important milestone in our journey. The fresh capital will strengthen our balance sheet and support our vision of expanding access to high-quality healthcare across India while continuing to deliver patient-centric and technology-enabled clinical excellence.”

As of March 31, 2026, Manipal Health had served 7.63 million patients across its network and had 11,064 doctors associated with its hospitals. The company is the largest private hospital network by bed capacity in Karnataka, Maharashtra-Goa and several eastern states, while maintaining a balanced presence across metropolitan and non-metropolitan India.

The equity shares are proposed to be listed on the BSE and the NSE, with KFin Technologies Ltd. acting as the registrar to the issue.

Disclaimer: This article is for information purpose only and is not investment advice. Please read the IPO documents carefully before investing.

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