Summary of this article
Manipal Health IPO has been subscribed 0.55 times on Day 3 so far
Manipal Health IPO GMP falls to Rs 4, signalling a flat listing
The Rs9,275-crore IPO closes today, listing on August 5
The Rs 9,275.22 crore initial public offering (IPO) of Manipal Health Enterprises continued to see muted demand on the final day of bidding, while its grey market premium (GMP) slipped further, indicating a flat listing expectation.
Manipal Health Enterprises IPO Subscription Status
As of 12:12 PM on July 31, the IPO was subscribed 0.55 times, according to exchange data.
The qualified institutional buyers (QIB) portion was booked 0.71 times, while the retail investors category saw 0.57 times subscription. The non-institutional investors (NII) segment was subscribed 0.21 times. The employee quota received the strongest response at 1.79 times.
Manipal Health Enterprises IPO GMP Today
The latest GMP stood at Rs 4 per share as of 10:59 AM on July 31, down from Rs 6 a day earlier. At the upper price band of Rs 590, the grey market signals an estimated listing price of around Rs 594, implying a premium of about 0.68 per cent.
The GMP has steadily declined from Rs 35 on July 24 to Rs 4 on the final day of the issue, reflecting weakening sentiment in the unofficial market.
Manipal Health Enterprises IPO Details
Manipal Health Enterprises is looking to raise Rs 9,275.22 crore through a combination of a fresh issue of Rs 8,000 crore and an offer for sale (OFS) worth Rs 1,275.22 crore.
The price band has been fixed at Rs 560-590 per share, with a lot size of 25 shares. Retail investors need a minimum investment of Rs 14,750 at the upper end of the price band.
The company plans to use the fresh issue proceeds mainly to repay borrowings of its subsidiary, Manipal Hospitals Private Limited, acquire a minority stake in Sahyadri Hospitals Private Limited, and for general corporate purposes.
Kotak Mahindra Capital, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India and DBS Bank India are the book-running lead managers to the issue, while Kfin Technologies is the registrar.
