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Manipal Health IPO price band set at ₹560 to ₹590 per share
The book-build issue includes a fresh sale of 13.56 crore shares plus an offer for sale of 2.16 crore shares, with a proposed listing on 5 August on both NSE and BSE.
Manipal Health Enterprises' initial public offering will open for public subscription on Wednesday, 29 July, and close on Friday, 31 July, according to LiveMint Markets. The IPO is structured as a book-build issue combining a fresh issue of 13.56 crore shares with an offer for sale of 2.16 crore shares, the company says in its filings.
The price band has been fixed at ₹560 to ₹590 per equity share, with a face value of ₹2. LiveMint Markets also reported a grey market premium of ₹25 on Monday afternoon, suggesting a potential 4.0% listing premium to the issue price.
The IPO is scheduled to conclude on Friday, and share allotment is expected to be finalized on Monday, 3 August, LiveMint Markets said. The shares are set to list on the NSE and BSE on Wednesday, 5 August.
LiveMint Markets reported that the fresh issue is aimed at raising ₹8,000 crore, while the offer for sale aggregates to ₹1,275.22 crore based on the number of shares mentioned in the story. The net proceeds from the fresh issue will be used to pay certain borrowings and interest for Manipal Hospitals, and to acquire a minority stake in its stepdown subsidiary, Sahyadri Hospitals, with some funds also earmarked for general corporate purposes.