Manipal Health Enterprises’ initial public offering is set to close on Friday, July 31, having secured 45% of its target subscription by the end of the third day.
The book build, which opened on Wednesday, aims to raise ₹8,000 crore through a fresh issue of 13.56 crore shares priced between ₹560 and ₹590 per share.
Institutional demand has been strong from the outset, with anchor investors committing ₹4,167 crore at the upper end of the price band.
The company allotted over 7.06 crore equity shares to these early backers at ₹590 per share, signaling confidence in the valuation among global and domestic funds.
The offering values Manipal Health Enterprises at over ₹77,600 crore, positioning it as one of the significant healthcare listings in recent months.
The strong anchor booking suggests that the final allotment may lean heavily toward the upper price band, though retail and QIB participation in the final hours will determine the overall oversubscription level.
Investors are now watching the final subscription numbers and the grey market premium (GMP) as the issue closes.
The allotment process is expected to begin shortly after the subscription window shuts, with shares likely to list in early August.