⚠️ Neutral
Upcoming
Hospital
Manipal Health Enterprises Limited IPO
₹9,275 Cr · Fresh Issue & OFS · Hospital
Price Band
₹560 – ₹590
Lot: 25 shares (₹14,750)
GMP (Grey Market)
₹9 (+1.53%)
Est. listing ₹599
Issue Size
₹9,275 Cr
Fresh Issue & OFS
Market Cap
₹77605.68 Cr
At upper band
P/E Ratio
84.7x
P/S: 7.5x
Listing Date
05 Aug 2026
BSE & NSE
IPO Timeline
✓
Opens
29 Jul 2026
✓
Closes
31 Jul 2026
📋
Allotment
3 Aug 2026
₹
Refund
4 Aug 2026
📈
Listing
05 Aug 2026
IPO India Hub Recommendation: Neutral
The company's strong market position and experienced promoters make it a solid investment. However, the high P/E ratio of 84.7x suggests the stock may be overvalued, considering its future growth prospects.
Our Analysis — Key Points
✓ Strength
Strong Market Position in Healthcare
The company is well-established in the healthcare industry, with a significant market presence. This position allows the company to offer a wide range of medical services, which can be a major draw for investors. The company's extensive reach translates to a steady revenue stream, which stood at ₹10,335.75 Cr in the latest fiscal year.
✓ Strength
Experienced Promoters Lead the Company
The promoters, including Dr. Ranjan R. Pai, are experienced and influential figures in the healthcare sector. Their expertise helps the company navigate industry challenges and maintain a strong reputation. This leadership can provide a sense of stability and reliability, which is crucial for investors.
⚠ Risk
High Valuation Based on Current Growth
Given the company's P/E ratio of 84.7x and P/S ratio of 7.5x, some investors may find the valuation on the higher side. This suggests that the market's expectations for future growth might be optimistic. Investors should consider whether the company's earnings and revenue can meet these expectations before making an investment decision.
$ Valuation
Valuation Reflects High Growth Expectations
The company's P/E ratio of 84.7x indicates that the market is expecting significant growth. However, investors should be cautious as this high valuation may not be justified by current earnings or future growth prospects. The P/S ratio of 7.5x also suggests that the company is being valued at a premium compared to its revenue.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Manipal Health Enterprises Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹10335.75 Cr
Net Profit
₹916.52 Cr
Industry
Hospital
Issue Type
Fresh Issue & OFS
Promoters
DR. RANJAN RAMDAS PAI, MANIPAL GLOBAL HEALTH SERVICES, MEMG INTERNATIONAL LTD, KANGTO INVESTMENTS PTE. LTD., IMPERIUS HEALTHCARE INVESTMENTS PTE. LTD., AND KABRU INVESTMENTS PTE. LTD.
Lead Managers
Kotak Mahindra Capital, Axis Capital, Goldman Sachs, Jefferies, JP Morgan, UBS Securities and DBS Bank
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