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Manipal Health Enterprises Limited, established in 2010 as part of the well-known Manipal Group founded by T. M. A. Pai, is one of India’s leading healthcare providers. The organization offers a broad range of medical services, including specialized care for heart health, cancer treatment, nerve disorders, bone care, and organ transplants. Backed by modern medical technology and skilled medical professionals, the company focuses on delivering high-quality, patient-centered care and growing its presence across the country through strategic partnerships and ongoing facility improvements.

By March 2026, the company’s network grew to include 49 hospitals with more than 13,000 beds, alongside 21 regional clinics. Supported by a dedicated workforce of over 24,000 full-time staff—including thousands of nurses, medical assistants, and administrative team members—Manipal Health continues to expand access to reliable healthcare and modern digital health services for patients nationwide.

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*Market cap @upper band

• India’s largest multispecialty hospital group by bed capacity with pan-India presence and leadership in our three key region
• We are the only private hospital chain network in India with leadership in three metros (Bengaluru, Kolkata and Pune) with a balanced and diversified presence across metros and non-metros
• Widely recognized brand and network for patients, doctors and healthcare professionals
• Advanced infrastructure and medical equipment, with a strong focus on clinical excellence
• Track record of delivering industry leading growth with strong profitability and efficiency

The Company MANIPAL HEALTH ENTERPRISES LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Repayment/ prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the Material Subsidiaries, Manipal Hospitals Private Limited (Rs. 5,552.76 Cr.)
• Acquisition of minority stake in the stepdown Subsidiary, Sahyadri Hospitals Private Limited (Rs. 574.00 Cr.)
• General corporate purposes

At the upper band of IPO Rs. 590, the stock is valued at 84.65 P/E multiple. Hence, well-informed investors would wait to subscribe for medium to long term perspective.