About the Company: India’s Leading Multi-Specialty Healthcare Network
Incorporated in 2010, Manipal Health Enterprises Limited is a healthcare service providers, operating a large network of multi-specialty hospitals, clinics, and diagnostic centres across the country. It is part of the Manipal Group, founded by T. M. A. Pai.vThe company offers a wide range of healthcare services including tertiary and quaternary care, organ transplants, oncology, cardiology, neurology, orthopaedics, and preventive healthcare. Its hospitals are equipped with advanced medical technology and are staffed by experienced medical professionals.
Manipal Health focuses on delivering quality, patient-centric care and expanding access to healthcare through strategic acquisitions, partnerships, and continuous investment in medical infrastructure and digital health initiatives. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds. They are operating 21 clinics as of March 31, 2026.
As of March 31, 2026, the company had 24,240 full-time employees across its hospitals and corporate functions. The workforce comprised 11,048 nurses, 6,362 paramedics, and 6,830 administrative employees, supporting its healthcare operations and patient services.
- India’s largest multispecialty hospital group by bed capacity with pan-India presence and leadership in our three key region.
- We are the only private hospital chain network in India with leadership in three metros (Bengaluru, Kolkata and Pune) with a balanced and diversified presence across metros and non-metros.
- Widely recognized brand and network of choice for patients, doctors and healthcare professionals
- Advanced infrastructure and medical equipment, with a strong focus on clinical excellence
- Track record of delivering industry leading growth with strong profitability and efficiency metric
Financial Trends & Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | ₹24,864.50 Cr | ₹14,072.08 Cr | ₹10,818.83 Cr |
| Total Income | ₹10,520.52 Cr | ₹8,362.79 Cr | ₹6,265.17 Cr |
| Profit After Tax (PAT) | ₹916.52 Cr | ₹1,081.67 Cr | ₹533.20 Cr |
| EBITDA | ₹2,795.94 Cr | ₹2,247.07 Cr | ₹1,776.60 Cr |
| Net Worth | ₹8,440.92 Cr | ₹5,865.66 Cr | ₹4,029.22 Cr |
| Total Borrowings | ₹10,553.43 Cr | ₹4,766.83 Cr | ₹3,943.98 Cr |
All figures in ₹ Crore | Source: Chittorgarh / DRHP Filings
Key Performance Indicators (FY2026)
Competitive Strengths
- Category Leadership: India’s largest multispecialty hospital group by bed capacity with prominent pan-India operations.
- Metro Dominance: Balanced geographic presence across major non-metros and top key metros (Bengaluru, Kolkata, and Pune).
- Highly Valued Brand Equity: Recognized choice for top clinical consultants, medical staff, and patients.
- Advanced Medical Infrastructure: Continuous investment into quaternary surgical technologies, robotics, and digital healthcare platforms.
Issue Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
IPO Structure & Use of Proceeds
- Repayment / prepayment of outstanding borrowings and accrued interest availed by material subsidiary, Manipal Hospitals Private Limited ₹5,552.76 Cr
- Acquisition of minority stake in stepdown subsidiary, Sahyadri Hospitals Private Limited ₹574.00 Cr
- General Corporate Purposes Balance
Manipal Health Enterprises Ltd. represents the flagship hospital offering from the Manipal Group, featuring unmatched scale with 13,000+ beds and a strong market share across core metro networks.
While near-term profit metrics experienced slight pressure from acquisition integration and finance costs, the massive fresh capital injection will primarily go toward deleveraging Manipal Hospitals Private Limited (₹5,552.76 Cr), substantially lowering future interest expenses. Long-term investors looking for institutional healthcare exposure in India may consider evaluating this issue closely.
