Healthcare provider Manipal Health Enterprises has opened its much-awaited IPO for public subscription today.
Investors can apply for the issue until Friday, July 31. Through this IPO, the company plans to raise ₹9,275 crore.
The company has fixed the price band at ₹560-₹590 per share (face value ₹2). Employees applying under the employee category will get a discount of ₹56 per share.
IPO Size and Investment Details
The ₹9,275 crore IPO includes a fresh issue worth ₹8,000 crore, consisting of 13,55,93,220 new shares. In addition, existing promoters will sell 2,16,13,834 shares worth ₹1,275 crore through an Offer for Sale (OFS).
The IPO will be listed on both the BSE and NSE.
Retail investors need to apply for at least one lot of 25 shares, requiring a minimum investment of ₹14,750. Investors can apply for up to 13 lots (325 shares), which will require an investment of ₹1,91,750.
Key Dates You Should Know
The IPO closes on July 31, while the share allotment is expected on August 3.
Successful applicants will receive shares in their demat accounts on August 4. Investors who do not receive an allotment are expected to get their refunds on the same day.
The company’s shares are scheduled to list on the stock exchanges on August 5.
Latest GMP Update
According to Investorgain.com, Manipal Health’s Grey Market Premium (GMP) stands at ₹10 as of July 29.
The GMP has fallen sharply over the past few days. It had touched an all-time high of ₹35 on July 24, but has gradually declined to ₹10, which is around 1.69% above the upper IPO price band.
While the GMP still indicates a positive listing outlook, experts note that grey market premiums can change quickly before the listing date, so investors should not rely on them alone when making investment decisions.
