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.;