Manipal Health Enterprises is set to finalize the basis of allotment for its initial public offering (IPO) on Monday, August 3. Investors who participated in the bidding process can expect to receive debit alerts or emails by Tuesday, August 4. The healthcare provider's IPO, which concluded on July 31, witnessed a subdued response from investors.
IPO Details and Subscription Status
The Manipal Health Enterprises IPO was open for subscription from July 29 to July 31, with shares offered in a price band of Rs 560-590 per equity share. The minimum application lot size was 25 shares. The company aimed to raise Rs 9,275 crore through the IPO, comprising a fresh share sale of Rs 8,000 crore and an Offer-for-Sale (OFS) of up to 2,16,13,834 equity shares worth Rs 1,275 crore.
The issue was subscribed approximately 4.92 times overall, attracting bids worth over Rs 26,000 crore from around 3.60 lakh applications. Breaking down the subscription:
- Qualified Institutional Bidders (QIBs): 8.25 times subscribed
- Non-Institutional Investors (NIIs): 1.02 times subscribed
- Employees Quota: 2.19 times subscribed
- Retail Portion: Only 93% subscribed, indicating under-subscription in this category.
Grey Market Premium (GMP) and Listing Outlook
Following the muted bidding, the Grey Market Premium (GMP) for Manipal Health Enterprises shares has seen a sharp decline. Latest reports indicate a discount of Rs 10-15 per share in the grey market, suggesting a potentially weak listing for investors. During the final day of bidding, the GMP stood at a modest Rs 5-10 per share.
Refunds for unsuccessful bidders are scheduled for Tuesday, August 4. The shares of Manipal Health Enterprises are slated to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, August 5.
About Manipal Health Enterprises
Incorporated in 2010 and headquartered in Bengaluru, Manipal Health Enterprises is a prominent healthcare service provider in India. It operates an extensive network of multi-specialty hospitals, clinics, and diagnostic centers nationwide. The company offers a broad spectrum of healthcare services, including tertiary and quaternary care, organ transplants, oncology, cardiology, neurology, orthopedics, and preventive healthcare.
Kotak Mahindra Capital, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India, and DBS Bank are the book-running lead managers for the IPO. Kfin Technologies Ltd is the official registrar for the issue.
How to Check Manipal Health IPO Allotment Status
Investors can check their Manipal Health Enterprises IPO allotment status through several platforms:
1. Via BSE Website:
- Visit the official BSE website: https://www.bseindia.com/investors/appli_check.aspx
- Under 'Issue Type', select 'Equity'.
- From the 'Issue Name' dropdown, choose 'Manipal Health Enterprises Limited'.
- Enter your application number.
- Input your PAN card ID.
- Complete the 'I am not a Robot' captcha and click 'Search'.
2. Via NSE Website:
- Go to the NSE website for checking IPO bids: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select 'Equity & SME IPO Bid details'.
- Under 'Select Symbol', choose 'MANIPALHOS'.
- Enter your PAN Number and Application Number.
- Click 'Submit' to view your status.
3. Via KFin Technologies (Registrar) Website:
- Access the KFin Technologies web portal: https://kosmic.kfintech.com/ipostatus
- Select the IPO from the dropdown menu (the name will appear once allotment is finalized).
- Choose one of three modes: Application Number, Demat Account Number, or PAN ID.
- Select your application type (ASBA or non-ASBA).
- Enter the details corresponding to your chosen mode.
- Fill in the security captcha accurately.
- Click 'Submit'.