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Manipal Health Enterprises shares surge after strong premium listing
The stock climbed to an intraday high of about ₹666 on the NSE after debuting around ₹652, as most IPO proceeds are slated to repay acquisition debt.
Manipal Health Enterprises shares extended gains after listing on the NSE at ₹652 per share, with the stock later reaching an intraday high of about ₹666. The BSE debut price was ₹655, after the offering priced to give early investors an around 11% listing gain, LiveMint Markets reported.
Despite the early pop, market experts said the valuation offers limited margin of safety because a significant portion of net proceeds would be used to repay debt taken to fund recent acquisitions. They added this could leave fewer funds available for additional expansion.
Experts also pointed to the company’s reliance on Karnataka for revenue, saying the state contributes about 46% to 60% of sales. Recommendations cited by LiveMint Markets included booking profits for lower risk investors and using stop-loss levels around ₹590 to protect downside for those holding the stock.