Manipal Healthcare

Manipal Health shares debut with strong listing gains, while Ardee Industries' IPO attracts robust investor interest on the first day of bidding

Manipal Health Enterprises share price: On Dalal Street, Manipal Health Enterprises will directly compete with major listed hospital peers like Apollo Hospitals, Max Healthcare, and Fortis Healthcare.

The IPO, India's second biggest this year after SBI Funds Management, received bids for 229 million shares, as of 1:54 p.m. IST, against 90.09 million shares on offer, according to exchange data

July's IPO boom continues with Manipal Health, while investors track Nifty support levels, rising crude prices and Suzlon Energy's appeal against Sebi before SAT

₹9,275-crore issue opens on July 29 as the Temasek-backed hospital chain plans to add around 3,000 beds through greenfield and brownfield projects

MD & CEO Dilip Jose says the hospital chain will use the ₹8,000-crore fresh issue largely to repay debt, while pursuing organic expansion and selective acquisitions in key markets

Manipal Health will start taking investor orders on July 29 and plans to close bidding on July 31

The Temasek-backed hospital chain is expected to launch its ₹11,000 crore share sale later this month amid cautious investor sentiment

Temasek-backed Manipal Health Enterprises has completed the acquisition of hospital property and development rights in Mumbai's Andheri ahead of its proposed IPO

Manipal Health Enterprises Limited has bought the remaining portion of the Khubchandani Hospital property in Andheri, Mumbai for ₹495 crore, according to property registration documents

The share sale will include an offer by existing investors to sell as many as 43.23 million shares, representing a 3.66 per cent stake, alongside a fresh issue of shares worth ₹8,000 crore

Valuation of India's largest hospital network is around $12-15 bn. The Issue will comprise fresh issue of shares and a small portion as OFS

The acquisition comes as the hospital chain has been working towards expansion efforts. In September 2023, Manipal Hospitals had acquired an 84 per cent stake in Emami Group's AMRI Hospitals

Manipal Health Enterprises (Manipal Hospitals) currently operates 9,500 beds across 33 hospitals in India. Medica has a presence in eastern India with 1,200 beds

Local news website MoneyControl reported earlier this week that Manipal was in the final leg of discussions to acquire Kolkata-based Medica Synergie, which will bring in 1,200 beds.

Abu-Dhabi-based Mubadala Investment Company and two other funds have acquired a minority 8 per cent stake in Manipal Health Enterprises from Singapore's sovereign wealth fund Temasek. Mubadala Investment Company in a statement on Monday said that it is investing in Manipal Health Enterprises. Temasek will continue to hold a majority stake in Manipal, it added. In April last year, Temasek acquired an additional 41 per cent stake in Manipal for more than Rs 16,300 crore, taking its total shareholding to 59 per cent in one of the country's largest hospital chains. According to sources, Temasek has reduced its stake by 8 per cent in the hospital chain. Novo Holdings and California Public Employees' Retirement System (CalPERS) are the other new investors in Manipal Health Enterprises, according to a release by the hospital chain. "Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal's growth journey in the years ahead," Hea

Fair trade regulator Competition Commission of India (CCI) on Monday cleared Seventy Second Investment Company's proposed stake acquisition in Manipal Health Enterprises. The deal has been approved under the green channel route. Manipal Health Enterprises operates a network of hospitals providing multi-specialty care. It has a presence through 27 hospitals in 14 cities in the country. The combination relates to Seventy Second Investment Company proposal to acquire an equity stake in Manipal Health Enterprises Pvt Ltd, CCI said. Seventy Second Investment Company is an investment entity, wholly-owned by the investment vehicle of the Government of Abu Dhabi and is incorporated in the Emirate of Abu Dhabi, United Arab Emirates. "The activities of the parties (including their affiliates) do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets," the competition watchdog said in its notice. Therefore, the proposed combination is being

Bengaluru-based hospital chain is focusing on adding beds - both organically and inorganically - and offering more high-end and complex surgeries for growth and profit

Expansion and acquisitions to take hospital chain's total to nearly 12,000 beds

Manipal currently serves over 5 million patients a year through its 29 hospitals in 16 cities with 4,000 doctors, according to a statement issued jointly by the investors