Manipal Health IPO garners 11% greymarket premium on day one
By ETF Desk
Manipal Health's highly anticipated initial public offering (IPO) debuted with a greymarket premium of 11%, driving its opening price to Rs 81.7 per share, well above the recommended range of Rs 80–84.
The greymarket, which operates as a secondary market for shares before they officially trade on the exchange, saw a bid of Rs 90.8 per share for Manipal Health. This level of demand reflects confidence in the company's robust healthcare portfolio and its expansion plans across Karnataka and neighboring states.
With the premium, the offering set a higher benchmark for subsequent local healthcare listings and signals strong institutional appetite for the sector. Investors who purchased shares at the issue price now hold stakes that are already trading at a higher valuation, potentially boosting the company's market capitalisation in the coming weeks. Source: Google News – Manipal.