Manipal Health IPO Passes SEBI Approval
By ETF Desk
On June 1, 2024, the Securities and Exchange Board of India (SEBI) granted final approval for the listing of Manipal Health’s initial public offering (IPO), allowing the company to float its shares on the national stock exchanges.
Manipal Health, a subsidiary of Manipal Group, plans to offer 6.5 crore shares at a price band of ₹95 to ₹125 per share, raising up to ₹1.1 billion. The IPO is expected to attract both institutional and retail investors, with the listing scheduled for the first week of July.
The approval is significant for the local economy, as Manipal University—situated in Udupi district—has been a pillar of educational and healthcare services in the region. The entry of a health company onto the stock market will provide visibility to Udupi’s health sector and create new investment avenues. Source: Google News – Manipal.